Former Bank with Drive-Thru
For Sale
Contact for pricing
3960 South Ave, Youngstown, OH 44512
Former bank with four drive-thru lanes and a bright, naturally lit interior.
Property Size4,000 SF
Lot Size1.50 Acres
Price / SF$143.75
Days on Market566
Property Features for 3960 South Ave
General Information
Standard status
Active
Size
4,000 SF
Lot size
1.50 Acres
Property subtype
RETAIL
Building Details
Year Built
2004
Listing Agency:
Platz Realty Group
(330) 757-4889
Listed By:
Bill Kutlick
(330) 565-5701
Source:
Moodyscre
Added: Feb 24, 2025
Changed: Sep 4
Last Checked: Sep 13 at 11:44AM
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 former bank offers approximately 4,000 SF on a 1.5-acre site. The property is set up with four drive-thru lanes and is described as very bright with lots of natural light. Built in 2004, the space is well-suited for users looking for an existing financial-services layout or adaptable drive-thru oriented facility.
The property is located just south of Midlothian Blvd, at 3960 South Ave in Youngstown, OH 44512. Its drive-thru configuration supports convenient customer access and visibility for a single-building site.
With its combined building size, acreage, and built-in drive-thru lanes, this is a straightforward option for an operator seeking a bank-like footprint with drive-thru capacity.
The property is located just south of Midlothian Blvd, at 3960 South Ave in Youngstown, OH 44512. Its drive-thru configuration supports convenient customer access and visibility for a single-building site.
With its combined building size, acreage, and built-in drive-thru lanes, this is a straightforward option for an operator seeking a bank-like footprint with drive-thru capacity.
Key Highlights
- Approximately 4,000 SF former bank building
- Situated on 1.5 acres
- Four drive‑thru lanes
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
$42,309
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
7.36%
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%
$846,180
$846.2K
Cap Rate 7%
$604,414
$604.4K
Cap Rate 9%
$470,100
$470.1K
Market Conditions
NOI Build-Up for 4,000 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
$60.0K $15.00/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$56.4K $14.10/SF
− OpEx
−$14.1K −$3.53/SF
NOI
$42.3K $10.58/SF
Area
Mahoning County, OH
Vacancy
5.98%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$846,180
Cap Rate 7%
$604,414
Cap Rate 9%
$470,100
Alternative Uses
Best Use
Specialty Retail
$604.4K
$528.9K – $705.2K
NOI $42,309 @ 7.0% cap · market cap 7.36%
Second Best
Retail
$180.0K
$157.5K – $210.0K
NOI $12,600 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$754.8K
$660.5K – $880.6K
NOI $52,838 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
273
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
Check the figures for this property
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Bank - Former bank with four drive-thru lanes and a bright, naturally lit interior.
Where is this bank located?
The property is located at 3960 South Ave Youngstown, OH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 4,000 SF former bank building; Situated on 1.5 acres; Four drive‑thru lanes
