Commercial Building with Adjacent
1838 E State St Salem, OH 44460
1838 E State St, Salem, OH, 44460
Contact for pricing
For Sale
Contact for pricing
Building and adjacent vacant lot provide flexibility for a range of commercial uses.
Property Size4,861 SF
Lot Size1.00 Acre
Price / SF$149.15
Days on Market151
Property Features for 1838 E State St
General Information
- Standard status
- Active
- Size
- 4,861 SF
- Lot size
- 1.00 Acre
- Property subtype
- OFFICE
Listing agency
Platz Realty Group
(330) 565-5701
Listed by
Bill Kutlick
(330) 565-5701
Source
Moodyscre
Added: Feb 20 Updated: Jul 20 at 5:45PM Checked: Jul 21 at 4:25AM
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 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.
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.3k | $12.00 |
| − Vacancy | −$14.6k | −$3.00 |
| EGI | $43.7k | $9.00 |
| − OpEx | −$10.9k | −$2.25 |
| NOI | $32.8k | $6.75 |
4,861 SF · lease $12.00/SF/yr · vacancy 25.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$468.7K
$410.2K – $546.9K
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
NOI $287,428 @ 7.0% cap · market cap 39.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
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
