Freestanding Retail Building For
222 South Main Street Orrville, OH 44667
222 South Main Street, Orrville, OH, 44667
$1,200,000
For Sale
$1,200,000
Freestanding 11,335 SF former Rite Aid available for sale.
Property Size11,335 SF
Price / SF$105.87
Days on Market114
Property Features for 222 South Main Street
General Information
- Standard status
- Active
- Size
- 11,335 SF
- Property subtype
- Retail
Listing Agency
CBRE | Cleveland
(216) 363-6453
Listed by
Kevin Moss · License #SAL.2015001299
(216) 363-6453
Source
Cbre
Added: Mar 25 Checked: Jul 6 at 12:30 pm
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 CBRE | Cleveland
Investment Insights
Based on property information with market context.
This freestanding building, formerly a Rite Aid, offers 11,335 square feet of space and is available for sale. The property is situated at a signalized intersection, providing approximately 270 feet of frontage along Main Street and about 168 feet of frontage along E Chestnut Street. The location is zoned C-2 Local Commercial District. Main Street serves as the primary north-south thoroughfare connecting Downtown Orrville to the residential areas. The area benefits from average household incomes of $89,738 within a 5-mile radius. Traffic counts along Main Street reach 7,563 vehicles per day. Notable industries in Orrville include The J.M Smucker Co Heritage Plant (460,000 SF with 1,700 employees), SmithFoods (+/- 60,000 SF with 300+ employees), and Morgan Truck & Body (210,000 SF with 110+ employees).
Key Highlights
- Freestanding 11,335 SF building suitable for various commercial uses.
- Located at a signalized intersection with high visibility.
- +/- 270’ of frontage along Main St and +/- 168’ of frontage along E Chestnut St.
Local Financial Insights For Specialty Retail
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 | $66.6k | $5.88 |
| − Vacancy | −$2.4k | −$0.21 |
| EGI | $64.3k | $5.67 |
| − OpEx | −$16.1k | −$1.42 |
| NOI | $48.2k | $4.25 |
11,335 SF · lease $5.88/SF/yr · vacancy 3.58% · expense 25.00%
Alternative Uses
Best Use
Retail
$1.63M
$1.43M – $1.90M
NOI $114,019 @ 7.0% cap · market cap 9.50%
Second Best
Specialty Retail
$688.5K
$602.5K – $803.3K
NOI $48,198 @ 7.0% cap · market cap 4.02%
Theoretical Best
Multifamily LT 5
$8.28M
$7.25M – $9.67M
NOI $579,916 @ 7.0% cap · market cap 48.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Rite Aid Pharmacy — 222 S Main St, Orrville, OH 44667
- Main Street Pharmacy & Wellness Center — 120 N Main St, Orrville, OH 44667
- Afassco — 228 W Chestnut St, Orrville, OH 44667
- Candice Calame, PharmD — 222 S Main St, Orrville, OH 44667
- Aultman Orrville Dunlap Family Physicians — 830 S Main St, Orrville, OH 44667
FAQs
What type of property is this?
Drug store - Freestanding 11,335 SF former Rite Aid available for sale.
Where is this drug store located?
The property is located at 222 South Main Street Orrville, 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 11,335 SF building suitable for various commercial uses.; Located at a **signalized intersection with high visibility**.; +/- 270’ of frontage along Main St and +/- 168’ of frontage along E Chestnut St.
