Freestanding Single-Story Retail
For Sale
Contact for pricing
220 3rd St, Wellsville, OH 43968
Freestanding one-story retail building built in 1993 with open retail space and 21 dedicated parking spaces.
Property Size8,174 SF
Price / SF$146.81
Days on Market377
Property Features for 220 3rd St
General Information
Standard status
Active
Size
8,174 SF
Total Parking Spaces
21
Property subtype
RETAIL
Additional Details
Corner Location
Yes
Building Details
Year Built
1993
Buildings
1
Stories
1
Listing Agency:
Platz Realty Group
(330) 647-0411
Listed By:
Daniel Crouse · License #SAL.2022004714
(330) 647-0411
Source:
Moodyscre
Added: Jul 29, 2025
Changed: Jul 31
Last Checked: Aug 8 at 1:24PM
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.
Freestanding, single-story retail building built in 1993 offering 8,174 SF of open retail space. The property was previously configured as a Rite Aid pharmacy, with a layout that can support continued retail use or conversion for healthcare-related activity or general retail uses.
Situated at the bustling downtown corner of 3rd & Broadway in Wellsville, the location is described as high visibility and is about 4 miles from East Liverpool City Hospital (130 acute beds), supporting steady traffic potential. The building also offers 21 dedicated parking spaces for customer access.
This is a straightforward freestanding option for tenants or buyers looking for an adaptable single-story footprint with substantial parking and a prior pharmacy build out.
Situated at the bustling downtown corner of 3rd & Broadway in Wellsville, the location is described as high visibility and is about 4 miles from East Liverpool City Hospital (130 acute beds), supporting steady traffic potential. The building also offers 21 dedicated parking spaces for customer access.
This is a straightforward freestanding option for tenants or buyers looking for an adaptable single-story footprint with substantial parking and a prior pharmacy build out.
Key Highlights
- Freestanding, single‑story retail building built in 1993
- 8,174 SF open retail space previously configured as a Rite Aid pharmacy
- Corner location at 3rd & Broadway in downtown Wellsville
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
$83,224
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
6.94%
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%
$1,664,480
$1.7M
Cap Rate 7%
$1,188,914
$1.2M
Cap Rate 9%
$924,711
$924.7K
Market Conditions
NOI Build-Up for 8,174 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
$155.0K $18.96/SF
− Vacancy
−$16.3K −$1.99/SF
EGI
$138.7K $16.97/SF
− OpEx
−$55.5K −$6.79/SF
NOI
$83.2K $10.18/SF
Area
Columbiana County, OH
Vacancy
10.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
40.00%
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%
$1,664,480
Cap Rate 7%
$1,188,914
Cap Rate 9%
$924,711
Alternative Uses
Best Use
Healthcare Medical
$1.19M
$1.04M – $1.39M
NOI $83,224 @ 7.0% cap · market cap 6.94%
Second Best
Retail
$949.5K
$830.8K – $1.11M
NOI $66,464 @ 7.0% cap · market cap 5.54%
Theoretical Best
Warehouse
$6.90M
$6.04M – $8.06M
NOI $483,324 @ 7.0% cap · market cap 40.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43968, OH
6,546
Population
3,184
Households
2.1
Avg Household Size
45
Median Age
12%
College-Educated
91%
High-School Grad
33.9 sq mi
ZIP Area
193
Density / Sq Mi
$62,172
Median Household Income
$40,675
Median Earnings
$784
Median Rent
$96,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding one-story retail building built in 1993 with open retail space and 21 dedicated parking spaces.
Where is this storefront property located?
The property is located at 220 3rd St Wellsville, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding, single‑story retail building built in 1993; 8,174 SF open retail space previously configured as a Rite Aid pharmacy; Corner location at 3rd & Broadway in downtown Wellsville
