Building Details

Year Built 1986

Listing Agency: McDowell Homes Real Estate Services

Listed By: Clorice L Vines cloricedlugos@gmail.com, 440-812-2542

Source: Searchclevelandhouses

Added: Oct 16 Changed: Oct 25 Last Checked: Oct 25 at 2:35AM

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Investment Insights

Based on property information with market context.

This retail property includes a 2,016-square-foot building and a storage shed on approximately 11 acres. Its layout supports use by one business or division into two units, each with its own bathroom. The property was built in 1986 and is served by natural gas, city water, and a septic system.

Interstate 90 is approximately one mile away.

Key Highlights

• Approximately 11 acres
• 2,016‑square‑foot retail building
• Layout accommodates one operation or two separate uses, with a bathroom in each unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,741

Cap Rate

6.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$494,820 $494.8K

Cap Rate 7%

$353,443 $353.4K

Cap Rate 9%

$274,900 $274.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,016 SF

Gross rent

$36.3K $18.00/SF

− Vacancy

−$943 −$0.47/SF

EGI

$35.3K $17.53/SF

− OpEx

−$10.6K −$5.26/SF

NOI

$24.7K $12.27/SF

Area

Ashtabula County, OH

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$494,820

Cap Rate 7%

$353,443

Cap Rate 9%

$274,900

Alternative Uses

Best Use

Retail

$353.4K

$309.3K – $412.4K (±1% cap)

NOI $24,741 @ 7.0% cap · market cap 6.60%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$375.7K

$328.7K – $438.3K (±1% cap)

NOI $26,298 @ 7.0% cap · market cap 7.01%

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

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Plumbing Service Garden Center Storage Facility Furniture & Home Goods Grocery & Convenience Store Kitchen & Bath Showroom

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

Lease Details

2

Office units

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

92

Businesses Nearby

62k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 81% Shops & Services 14% Hotels & Casinos 5%

McDonald's Dining

21,491 visits/mo 0.2 miles

Taco Bell Dining

14,835 visits/mo 0.2 miles

Burger King Dining

14,328 visits/mo 0.2 miles

Dollar General Shops & Services

7,997 visits/mo 0.1 miles

Hampton Inn by Hilton Hotels & Casinos

1,556 visits/mo 0.1 miles

Demographics for 44010, OH

1,666

Population

563

Households

3

Avg Household Size

49

Median Age

25%

College-Educated

90%

High-School Grad

18.3 sq mi

ZIP Area

91

Density / Sq Mi

$79,375

Median Household Income

$58,750

Median Earnings

$856

Median Rent

$219,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail space - The building can serve one operation or accommodate two separate uses, with a bathroom in each unit.

Where is this retail space located?

The property is located at 1933 State Route 45 Austinburg, OH.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Approximately 11 acres; 2,016‑square‑foot retail building; Layout accommodates one operation or two separate uses, with a bathroom in each unit