Listing Agency: Platz Realty Group Show Phone

Listed By: Bill Kutlick Show Phone

Source: Moodyscre

Added: Feb 20 Changed: Oct 11 Last Checked: Oct 19 at 9:42AM

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Investment Insights

Based on property information with market context.

This property consists of a building and an adjacent vacant lot, offering a straightforward setup for a variety of commercial concepts. Public remarks indicate suitability for fast food, car wash, retail, medical, and office uses.

The site is approximately one acre and features approximately 201 feet of frontage. The building totals 4,861 square feet.

For buyers and tenants evaluating the parcel, the combination of an existing building plus an adjacent vacant area can support flexible occupancy and site planning based on the intended business model.

Key Highlights

• Approximately 1‑acre commercial site with 201 ft frontage
• 4,861 SF building plus an adjacent vacant lot
• Flexible property setup for a range of commercial uses such as fast food, car wash, retail, medical, or office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,812

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$656,240 $656.2K

Cap Rate 7%

$468,743 $468.7K

Cap Rate 9%

$364,578 $364.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,861 SF

Gross rent

$58.3K $12.00/SF

− Vacancy

−$14.6K −$3.00/SF

EGI

$43.7K $9.00/SF

− OpEx

−$10.9K −$2.25/SF

NOI

$32.8K $6.75/SF

Area

Columbiana County, OH

Vacancy

25.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$656,240

Cap Rate 7%

$468,743

Cap Rate 9%

$364,578

Alternative Uses

Best Use

Office B

$468.7K

$410.2K – $546.9K (±1% cap)

NOI $32,812 @ 7.0% cap · market cap 4.53%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$4.11M

$3.59M – $4.79M (±1% cap)

NOI $287,428 @ 7.0% cap · market cap 39.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Hair Salon Gym & Fitness Center Nail Salon Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

473

Businesses Nearby

Explore this area Business Placement

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

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Building and adjacent vacant lot provide flexibility for a range of commercial uses.

Where is this office building located?

The property is located at 1838 E State St Salem, OH.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Approximately 1‑acre commercial site with 201 ft frontage; 4,861 SF building plus an adjacent vacant lot; Flexible property setup for a range of commercial uses such as fast food, car wash, retail, medical, or office