Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Retail Opportunity in Tallmadge Title is generated by Realmo AI

    45 East Avenue, Tallmadge, OH 44278

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former Rite Aid available for sale or lease on 2.23 AC.

    Type:Retail
    Property size:
    17,352 SF
    Lot size:
    2.23 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    47
    Last Refresh:
    Mar 18 at 7:55 am

    Property Features for 45 East Avenue

    General Information

    Standard status
    Active
    Size
    17,352 SF
    Lot size
    2.23 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Kevin Moss
    Kevin Moss

    Listing agent Kevin Moss License #SAL.2015001299

    Listing office CBRE | Cleveland

    Listing date Mar 25, 2026

    Source Cbre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Cleveland

    HighLights

    • Freestanding 17,352 SF former Rite Aid on 2.23 AC.
    • Rare freestanding retail opportunity in Tallmadge.
    • High traffic counts: East Ave (13,153 VPD), Northeast Ave (7,084 VPD).
    • Located minutes from Brimfield retail development.
    • Zoned C‑3 General Commercial.
    • Average household incomes of $75,759 in a 5 mile radius.

    Overview

    This freestanding retail property, formerly a Rite Aid, offers 17,352 square feet of space on a 2.23-acre lot. The property is located in Tallmadge, a market with high barriers to entry. The zoning is C-3 General Commercial. It is situated minutes from the new Brimfield retail development, which includes Meijer, Menards, Walmart, and Lowes. Traffic counts indicate 13,153 vehicles per day on East Avenue and 7,084 vehicles per day on Northeast Avenue. The average household income within a 5-mile radius is $75,759.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    higi Physician CDReload by Crypto ... Crypto Atm Rite Aid Pharmacy Rite Aid Photo (Bike/Boat/Book/etc) Store Western Union Bank

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Giant Eagle Pharmacy — 205 West Ave, Tallmadge, OH 44278
    • Seven Grains Natural Market — 92 West Ave, Tallmadge, OH 44278
    • PharmaCare Compounding Pharmacy — 232 West Ave, Tallmadge, OH 44278
    • Ciara Rauckhorst — 45 East Ave, Tallmadge, OH 442782340
    • Kenneth Speidel — 232 West Ave, Tallmadge, OH 442782110

    Location Insight

    • Map
    • Local Demand
    City
    Tallmadge
    County
    Summit
    State
    Ohio
    Longitude
    -81.43722
    Latitude
    41.101411

    Nearby Similar for Lease

    • $6 SF/Yr

      Tallmadge Industrial Flex Unit

      4,000 SF flex unit with warehouse and office space.
      391 Geneva Ave, Tallmadge, OH 44278
      View Details
    • $10 SF/Yr

      Visible Office Retail Space Available

      Office retail space for lease with private entrances and offices.
      498 South Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing

      Tallmadge Office Space Available

      Office space for lease in a quiet Tallmadge office park.
      143 Northwest Ave, Tallmadge, OH
      View Details
    • $10 SF/Yr

      Industrial Flex Space For Rent

      2,400 SF industrial flex space with drive-through capabilities.
      1680 Southeast Ave, Tallmadge, OH
      View Details
    • Contact for pricing

      Warehouse with Office and Dock

      4,000 SF warehouse space with office and dock.
      425-445 Munroe Falls Rd, Tallmadge, OH
      View Details
    • Contact for pricing

      Tallmadge Office/Retail Space Available

      Highly visible office/retail space in Tallmadge, close to I-76.
      498 S Ave, Tallmadge, OH
      View Details
    • Contact for pricing

      Retail Space Near Dunkin Donuts

      2,406 SF retail or office space in dense area.
      196 Tallmadge Cir, Tallmadge, OH
      View Details
    • $8 SF/Yr

      Retail Space with Great Exposure

      Retail space for lease with ample parking and signage.
      296-298 W Ave, Tallmadge, OH
      View Details
    • Contact for pricing

      Retail Spaces in Tallmadge, OH

      Retail spaces available in established shopping center anchored by Acme.
      574 South Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing

      Tallmadge Flex/Industrial/Office Space Available

      Flex, industrial, and office spaces for lease in Tallmadge.
      275-277 Southwest Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing

      Freestanding Brick Office Building

      Two-story office building with flexible layouts and natural light.
      143 Northwest Ave, Tallmadge, OH 44278
      View Details
    • Contact for pricing

      Industrial Flex Space with Drive-Through

      2,000 SF industrial flex space with drive-through capabilities.
      1680 Southeast Ave, Tallmadge, OH 44278
      View Details

    FAQs

    What type of property is this?
    Drug store - Former Rite Aid available for sale or lease on 2.23 AC.
    Where is this drug store located?
    The property is located at 45 East Avenue Tallmadge, OH.
    What are key features of this property?
    This property features: Freestanding 17,352 SF former Rite Aid on 2.23 AC.; Rare freestanding retail opportunity in Tallmadge.; High traffic counts: East Ave (13,153 VPD), Northeast Ave (7,084 VPD).
    (216) 577-1517
    We can help!
    Listing Contact
    Kevin Moss
    Kevin Moss
    Real Estate License ID: SAL.2015001299
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    45 East Avenue, Tallmadge, OH, 44278
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!