Mixed-Use Property with Retail
For Sale
$315,000
1974 - 1984 Warren Avenue, Niles, OH 44446
SINGLE_FAMILY - Niles, OH
Property Size1,792 SF
Lot Size2.39 Acres
Price / SF$175.78
Days on Market77
Property Features for 1974 - 1984 Warren Avenue
General Information
Property type
Residential
Property subtype
Retail
Elementary school district
Weathersfield LSD - 7821
Middle school district
Weathersfield LSD - 7821
High school district
Weathersfield LSD - 7821
Directions
N Main St to W Church St, N Chestnut Ave to Warren Ave. in Niles, Ohio.
Standard status
Active
APN
21-094700
Lot size
2.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
6 20 1.356A 4000 PT WARREN AVE EXT
Tax Annual Amount
4982
Legal Description
6 20 1.356A 4000 PT WARREN AVE EXT
Utilities
Sewer type
Septic Tank
Heating system
Baseboard
Water source
Well
Building Details
Year built
1985
Listing Agency:
Real of Ohio
(330) 807-1303
Listed By:
Jordan Smith · License #2024004124
(814) 925-5183
Added: May 25
Changed: Jun 22
Last Checked: Aug 9 at 6:06AM
MLS# 5220329
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property is set on 2.39 acres and includes a commercial retail showroom/office building plus two residential rental homes. The commercial space is configured as showroom/office use, supported by ample parking for visitors and customers. Also on the parcel are two garage/storage buildings totaling 1,600 and 1,200 SF, with three drive-in doors for practical loading and storage.
The property’s single-parcel setup provides multiple income streams, with the residential units and garage/storage currently generating rental income. The commercial building can support an owner-occupant business setup, serve storage needs, be redeveloped, or potentially be leased depending on the next owner’s plans. It is positioned near major retail, highways, and commercial corridors, while still offering room on-site for continued development or expansion.
For buyers looking for a blended-use holding, this offering provides residential and storage utility alongside a commercial showroom/office component. Owner-occupants may also value the ability to combine business space with on-site residential rental homes, all under one ownership structure. The property’s flexible mix of uses and on-site parking supports a range of business and operating approaches.
The property’s single-parcel setup provides multiple income streams, with the residential units and garage/storage currently generating rental income. The commercial building can support an owner-occupant business setup, serve storage needs, be redeveloped, or potentially be leased depending on the next owner’s plans. It is positioned near major retail, highways, and commercial corridors, while still offering room on-site for continued development or expansion.
For buyers looking for a blended-use holding, this offering provides residential and storage utility alongside a commercial showroom/office component. Owner-occupants may also value the ability to combine business space with on-site residential rental homes, all under one ownership structure. The property’s flexible mix of uses and on-site parking supports a range of business and operating approaches.
Key Highlights
- 2.39‑acre mixed‑use property with commercial showroom/office, two residential rental homes, and two garage/storage buildings on one parcel
- Commercial showroom/office building: 1,792 SF with showroom/office space and ample parking
- Residential rental space totals 1,184 SF and 720 SF across two homes
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
$17,305
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
5.49%
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%
$346,100
$346.1K
Cap Rate 7%
$247,214
$247.2K
Cap Rate 9%
$192,278
$192.3K
Market Conditions
NOI Build-Up for 1,792 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
$25.8K $14.40/SF
− Vacancy
−$1.1K −$0.60/SF
EGI
$24.7K $13.80/SF
− OpEx
−$7.4K −$4.14/SF
NOI
$17.3K $9.66/SF
Area
Trumbull County, OH
Vacancy
4.20%
Lease Rate
$14.40 /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%
$346,100
Cap Rate 7%
$247,214
Cap Rate 9%
$192,278
Alternative Uses
Best Use
Retail
$247.2K
$216.3K – $288.4K
NOI $17,305 @ 7.0% cap · market cap 5.49%
Second Best
Office B
$246.7K
$215.8K – $287.8K
NOI $17,267 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$340.1K
$297.6K – $396.8K
NOI $23,809 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 44446, OH
20,173
Population
10,476
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
14.0 sq mi
ZIP Area
1,441
Density / Sq Mi
$49,779
Median Household Income
$35,596
Median Earnings
$786
Median Rent
$108,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A 2.39-acre package combining a showroom/office, two rental homes, and garage/storage buildings with drive-in access.
Where is this retail space located?
The property is located at 1974 - 1984 Warren Avenue Niles, OH.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2.39‑acre mixed‑use property with commercial showroom/office, two residential rental homes, and two garage/storage buildings on one parcel; Commercial showroom/office building: 1,792 SF with showroom/office space and ample parking; Residential rental space totals 1,184 SF and 720 SF across two homes
