Two-Bay Automotive
For Sale
$185,000
178 N Ellsworth Avenue, Salem, OH 44460
Office, restroom, lift-equipped service bay, and open wash bay support automotive operations.
Property Size1,344 SF
Price / SF$137.65
Days on Market1019
Property Features for 178 N Ellsworth Avenue
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$1,551
Building Details
Building Size
1,344 SF
Year Built
1960
Listing Agency:
RAL Realty & Management LLC
Listed By:
Richard A Lippiatt · License #232350
(330) 398-1459
Source:
Lifestagesrealty
Added: Jan 15, 2024
Changed: Oct 30
Last Checked: Oct 30 at 2:01AM
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 RAL Realty & Management LLC
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Investment Insights
Based on property information with market context.
This 1,344-square-foot automotive building contains an office, a restroom, and two work bays. One bay has a ground-lift car hoist; the other is configured as an open wash bay. The property was built in 1960 and has a pitched roof, furnace, and hot water tank, each approximately 2 years old. The air compressor has received replacement parts.
Positioned on a corner in downtown Salem, the property is being offered as a building only. The used car dealership business, tools, and other business-related personal property are not included in the sale.
Positioned on a corner in downtown Salem, the property is being offered as a building only. The used car dealership business, tools, and other business-related personal property are not included in the sale.
Key Highlights
- Two work bays, including one with a ground‑lift car hoist and one open wash bay
- 1,344 square feet; built in 1960
- Office and restroom within the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,928
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$218,560
$218.6K
Cap Rate 7%
$156,114
$156.1K
Cap Rate 9%
$121,422
$121.4K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$17.7K $13.20/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$15.6K $11.62/SF
− OpEx
−$4.7K −$3.48/SF
NOI
$10.9K $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 Rate 5%
$218,560
Cap Rate 7%
$156,114
Cap Rate 9%
$121,422
Alternative Uses
Best Use
Industrial
$899.9K
$787.5K – $1.05M
NOI $62,996 @ 7.0% cap · market cap 34.05%
Second Best
Retail
$156.1K
$136.6K – $182.1K
NOI $10,928 @ 7.0% cap · market cap 5.91%
Theoretical Best
Warehouse
$1.14M
$993.4K – $1.32M
NOI $79,470 @ 7.0% cap · market cap 42.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
58k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 27%
Beauty & Spa 1%
Speedway
Shops & Services
14,042 visits/mo
0.1 miles
Huntington Bank
Shops & Services
10,325 visits/mo
0.3 miles
KFC
Dining
7,515 visits/mo
0.3 miles
Chase Bank
Shops & Services
5,804 visits/mo
0.1 miles
Pizza Hut
Dining
4,330 visits/mo
0.2 miles
Demographics for 44460, OH
25,393
Population
11,595
Households
2.2
Avg Household Size
46
Median Age
20%
College-Educated
90%
High-School Grad
107.4 sq mi
ZIP Area
236
Density / Sq Mi
$59,882
Median Household Income
$35,912
Median Earnings
$770
Median Rent
$153,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Davidson Sales & Services — 515 Prospect St, Salem, OH 44460
- B H - Major League Tire — 909 W State St, Salem, OH 44460
- Dad's Auto Repair — Salem, OH 44460
- Kaiser Towing — 412 W Wilson St, Salem, OH 44460
- Mark's Auto Body — 406 W State St, Salem, OH 44460
Frequently Asked Questions
What type of property is this?
Auto shop - Office, restroom, lift-equipped service bay, and open wash bay support automotive operations.
Where is this auto shop located?
The property is located at 178 N Ellsworth Avenue Salem, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two work bays, including one with a ground‑lift car hoist and one open wash bay; 1,344 square feet; built in 1960; Office and restroom within the building
