Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2673 E State St Salem, OH 44460

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two commercial land parcels available near retail and high traffic.

    Lot size:
    1.25 Acres

    Property Features for 2673 E State St

    General Information

    Lot size
    1.25 Acres

    We can help!

    Listing Contact
    Chris Seelig, Ccim
    Source: Moodyscre

    Listing Agent: Chris Seelig, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Land Parcels For Sale

    Two parcels of commercial land are available for sale, sized at 0.98 acres and 1.245 acres respectively. The properties benefit from commercial zoning and approximately 210 feet of road frontage on East State Street. The location is conveniently situated near Walmart, Home Depot, and Giant Eagle. Traffic counts on East State Street are reported at 14,867 vehicles per day. Seller financing is available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Columbiana
    State
    Ohio
    Longitude
    -80.8218462
    Latitude
    40.9007992

    Nearby Similar for Sale

    • New
      $114,900
      1,468 SF

      Charming Duplex with Conversion Potential

      Up-and-down duplex in Salem, OH, convertible to single-family home.
      559 E Perry St, Salem, OH 44460
      View Details
    • $85,000
      1,222 SF

      Duplex in Central Salem, Ohio

      Fully occupied duplex with long-term tenants in central Salem.
      676 E 3Rd St, Salem, OH 44460
      View Details
    • New
      $126,000
      Pending

      Salem Duplex: Investment Opportunity

      Duplex in Salem, Ohio with consistent rental income.
      152 W 5Th St, Salem, OH 44460
      View Details
    • $99,900

      Updated Condo in Windsor Square

      Move-in ready condo with updated features and courtyard view.
      530 Hawley Ave, Salem, OH 44460
      View Details
    • $310,000
      4,732 SF

      Mixed-Use Building in Downtown Salem

      Mixed-use brick building with retail and residential units in Salem.
      127 Penn Ave, Salem, OH 44460
      View Details
    • $575,000
      13,000 SF

      Salem Industrial Site For Sale

      25+ acre industrial site with warehouse and house.
      12550 Youngstown Salem Rd, Salem, OH 44460
      View Details
    • $236,000
      7,347 SF

      Leased Mixed-Use Investment Property

      Fully leased mixed-use building with retail and apartment units.
      241 E State St, Salem, OH 44460
      View Details
    • $549,900
      5,900 SF

      Salem Warehouse with Office Space

      4,700 SF warehouse with 1,200 SF office space.
      1285 Quaker Cir, Salem, OH 44460
      View Details
    • $2,500,000
      14,564 SF

      Former Rite Aid with Drive-Thru

      Former Rite Aid in Salem, OH, with drive-thru.
      2229 E State St, Salem, OH 44460
      View Details
    • $2,345,000
      30,200 SF

      Former Dealership on 5 Acres

      30,200 SF showroom and service garages on 5+ acres.
      152 Continental Dr, Salem, OH 44460
      View Details
    • $649,000
      13,185 SF

      Retail/Flex Building in Salem, OH

      Retail and flex building with warehouse space for sale.
      1965 N Ellsworth Ave, Salem, OH 44460
      View Details
    • $249,000
      4,236 SF

      Mixed-Use Property in Salem, OH

      Mixed-use property with retail, garage, and house in Salem.
      777 N Ellsworth Ave, Salem, OH 44460
      View Details

    FAQs

    What type of property is this?
    Land - Two commercial land parcels available near retail and high traffic.
    Where is this land located?
    The property is located at 2673 E State St Salem, OH.
    What are key features of this property?
    This property features: - Commercial Zoning allows for various business opportunities.; - Seller Financing Available, ask for more details.; - High Traffic Volume: Benefit from 14,867 VPD on E. State Street.
    (216) 272-7005
    Request Owner's contact information
    2673 E State St Salem, OH 44460
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2673 E State St
    Salem, OH 44460
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2673 E State St Salem, OH 44460
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chris Seelig, Ccim
    (216) 272-7005
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.