Multi-Tenant Retail
For Sale
Contact for pricing
1255-1265 Boardman Canfield Rd, Boardman, OH 44512
Two-building layout combines retail and office space with exposure along US 224.
Property Size15,781 SF
Lot Size1.60 Acres
Price / SF$85.55
Days on Market13
Property Features for 1255-1265 Boardman Canfield Rd
General Information
Standard status
Active
Size
15,781 SF
Lot size
1.60 Acres
Property subtype
Office, Retail
Additional Details
Highway Access
Yes
Building Details
Year Built
1987
Buildings
2
Tenancy
Multi
Listing Agency:
Platz Realty Group
(501) 551-3817
Listed By:
Bill Kutlick · License #OH
Source:
Crexi
Added: Jul 28
Changed: Aug 9
Last Checked: Aug 9 at 2:28PM
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 Platz Realty Group
Investment Insights
Based on property information with market context.
This multi-tenant retail property includes two buildings totaling 15,781 square feet. The rear building at 1255 contains 6,165 SF, while the front building at 1265 provides 9,616 SF. Both structures were built in 1987 and occupy a 1.6-acre site, creating a combined retail and office configuration.
The property is located at 1255-1265 Boardman Canfield Rd in Boardman, Ohio, along US 224. It sits across from Mill Creek Park and near Tippecanoe Road and Meijer. Reported traffic volume exceeds 33,000 vehicles per day, providing a high-exposure setting for the existing multi-tenant commercial use.
The property is located at 1255-1265 Boardman Canfield Rd in Boardman, Ohio, along US 224. It sits across from Mill Creek Park and near Tippecanoe Road and Meijer. Reported traffic volume exceeds 33,000 vehicles per day, providing a high-exposure setting for the existing multi-tenant commercial use.
Key Highlights
- 15,781‑square‑foot property with two retail/office buildings
- Rear building at 1255 contains 6,165 SF
- Front building at 1265 contains 9,616 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,710
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$994,200
$994.2K
Cap Rate 7%
$710,143
$710.1K
Cap Rate 9%
$552,333
$552.3K
Market Conditions
NOI Build-Up for 15,781 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.7K $6.00/SF
− Vacancy
−$23.7K −$1.50/SF
EGI
$71.0K $4.50/SF
− OpEx
−$21.3K −$1.35/SF
NOI
$49.7K $3.15/SF
Area
Mahoning County, OH
Vacancy
25.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$994,200
Cap Rate 7%
$710,143
Cap Rate 9%
$552,333
Alternative Uses
Best Use
Office B
$2.16M
$1.89M – $2.52M
NOI $151,119 @ 7.0% cap · market cap 11.19%
Second Best
Retail
$710.1K
$621.4K – $828.5K
NOI $49,710 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$2.98M
$2.61M – $3.47M
NOI $208,461 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-building layout combines retail and office space with exposure along US 224.
Where is this retail space located?
The property is located at 1255-1265 Boardman Canfield Rd Boardman, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 15,781‑square‑foot property with two retail/office buildings; Rear building at 1255 contains 6,165 SF; Front building at 1265 contains 9,616 SF
