Freestanding Retail
New
For Sale
$3,500,000
14941 South Avenue, Columbiana, OH 44408
Open interior layout supports retail or commercial repositioning.
Property Size14,518 SF
Lot Size1.57 Acres
Price / SF$241.08
Days on Market4
Property Features for 14941 South Avenue
General Information
Standard status
Active
Size
14,518 SF
Lot size
1.57 Acres
Property subtype
Retail
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$70,928
Building Details
Building Size
14,518 SF
Year Built
2008
Buildings
1
Listing Agency:
Gonatas Real Estate LLC
(330) 501-8300
Listed By:
Dennis D Gonatas Sr. · License #BRKP.2023000272
(330) 501-8300
Source:
Asacoxhomes
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 4:28AM
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 Gonatas Real Estate LLC
Investment Insights
Based on property information with market context.
This freestanding commercial building occupies approximately 1.57 acres at 14941 South Avenue in Columbiana. Built in 2008, the former Rite Aid property offers an open interior configuration, substantial parking, multiple points of access, and a prominent corner position. The building provides a flexible foundation for continued retail use, professional office occupancy, medical conversion, restaurant redevelopment, or other commercial repositioning, subject to applicable approvals.
The property sits at the signalized meeting of South Avenue and State Route 14, with less than two miles separating it from State Route 11. Nearby commercial activity includes Das Dutch Haus, Sparkle Market, national restaurants, financial institutions, and residential development. Its location provides access across Columbiana County and toward the greater Youngstown market.
The property sits at the signalized meeting of South Avenue and State Route 14, with less than two miles separating it from State Route 11. Nearby commercial activity includes Das Dutch Haus, Sparkle Market, national restaurants, financial institutions, and residential development. Its location provides access across Columbiana County and toward the greater Youngstown market.
Key Highlights
- Approximately 1.57‑acre commercial site
- Freestanding building constructed in 2008
- Signalized intersection of South Avenue and State Route 14
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
$118,049
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
3.37%
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%
$2,360,980
$2.4M
Cap Rate 7%
$1,686,414
$1.7M
Cap Rate 9%
$1,311,656
$1.3M
Market Conditions
NOI Build-Up for 14,518 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
$191.6K $13.20/SF
− Vacancy
−$23.0K −$1.58/SF
EGI
$168.6K $11.62/SF
− OpEx
−$50.6K −$3.48/SF
NOI
$118.0K $8.13/SF
Area
Columbiana County, OH
Vacancy
12.00%
Lease Rate
$13.20 /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%
$2,360,980
Cap Rate 7%
$1,686,414
Cap Rate 9%
$1,311,656
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,049 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.26M
$10.73M – $14.31M
NOI $858,441 @ 7.0% cap · market cap 24.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
104k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 32%
Hotels & Casinos 3%
Electronics 2%
McDonald's
Dining
20,640 visits/mo
0.4 miles
Taco Bell
Dining
12,175 visits/mo
0.3 miles
Dollar General
Shops & Services
12,019 visits/mo
0.4 miles
Wendy's
Dining
10,312 visits/mo
0.3 miles
Burger King
Dining
9,379 visits/mo
0.3 miles
Demographics for 44408, OH
10,526
Population
5,079
Households
2.1
Avg Household Size
48
Median Age
33%
College-Educated
95%
High-School Grad
35.6 sq mi
ZIP Area
296
Density / Sq Mi
$71,205
Median Household Income
$41,181
Median Earnings
$681
Median Rent
$197,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lemon Tree Flowers & Things — 1107 Village Plaza, Columbiana, OH 44408
Frequently Asked Questions
What type of property is this?
Storefront property - Open interior layout supports retail or commercial repositioning.
Where is this storefront property located?
The property is located at 14941 South Avenue Columbiana, OH.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Approximately 1.57‑acre commercial site; Freestanding building constructed in 2008; Signalized intersection of South Avenue and State Route 14
