Walgreens Drug
For Sale
Contact for pricing
3390 Elm Road NE, Warren, OH 44483
2004-built retail property positioned at the North River Road and Elm Road N.E. intersection.
Property Size14,470 SF
Price / SF$203.04
Days on Market168
Property Features for 3390 Elm Road NE
General Information
Standard status
Active
Size
14,470 SF
Total Parking Spaces
62
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$217,350
Additional Details
Corner Location
Yes
Building Details
Year Built
2004
Tenancy
Single
Listing Agency:
May Realty Advisors
Listed By:
Matthew May · License #CA 00912472
Source:
Crexi
Added: May 1
Changed: Oct 10
Last Checked: Oct 14 at 9:33PM
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 May Realty Advisors
Investment Insights
Based on property information with market context.
Built in 2004, this Walgreens retail property contains 14,470 square feet at 3390 Elm Road N.E. in Warren, Ohio. The building occupies the intersection of North River Road and Elm Road N.E., providing a prominent corner position within an established commercial setting.
Nearby businesses include Chase Bank, Pizza Hut, and Sheetz at the same intersection, while Menards, Dollar Tree, KFC, Burger King, and Tractor Supply Co. add additional commercial activity in the surrounding area. Gillette Nursing Home and Renaissance North Healthcare retirement home are located just north of the property. The site is less than three miles from downtown Warren, within the Youngstown-Warren-Boardman MSA and approximately 16 miles from the Ohio-Pennsylvania border.
Nearby businesses include Chase Bank, Pizza Hut, and Sheetz at the same intersection, while Menards, Dollar Tree, KFC, Burger King, and Tractor Supply Co. add additional commercial activity in the surrounding area. Gillette Nursing Home and Renaissance North Healthcare retirement home are located just north of the property. The site is less than three miles from downtown Warren, within the Youngstown-Warren-Boardman MSA and approximately 16 miles from the Ohio-Pennsylvania border.
Key Highlights
- 14,470‑square‑foot Walgreens retail property
- Built in 2004
- Corner location at North River Road and Elm Road N.E.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,950
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,119,000
$3.1M
Cap Rate 7%
$2,227,857
$2.2M
Cap Rate 9%
$1,732,778
$1.7M
Market Conditions
NOI Build-Up for 14,470 SF
Gross rent
$217.1K $15.00/SF
− Vacancy
−$9.1K −$0.63/SF
EGI
$207.9K $14.37/SF
− OpEx
−$52.0K −$3.59/SF
NOI
$156.0K $10.78/SF
Area
Trumbull County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,119,000
Cap Rate 7%
$2,227,857
Cap Rate 9%
$1,732,778
Alternative Uses
Best Use
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $155,950 @ 7.0% cap · market cap 5.31%
Second Best
Retail
$2.00M
$1.75M – $2.33M
NOI $139,732 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,254 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44483, OH
24,840
Population
12,469
Households
2
Avg Household Size
43
Median Age
17%
College-Educated
89%
High-School Grad
18.3 sq mi
ZIP Area
1,357
Density / Sq Mi
$47,629
Median Household Income
$32,289
Median Earnings
$796
Median Rent
$100,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Giant Eagle Pharmacy — 2061 Elm Road, Plaza, Warren, OH 44483
- Amanda M. Apanasewicz, PharmD — 2154 Elm Rd NE, Warren, OH 44483
- Rita Markakis — 2154 Elm Rd NE, Warren, OH 444834005
- Joann Weber — 2154 Elm Rd NE, Warren, OH 444834005
- Rite Aid Pharmacy — 2154 Elm Rd NE, Warren, OH 44483
Frequently Asked Questions
What type of property is this?
Drug store - 2004-built retail property positioned at the North River Road and Elm Road N.E. intersection.
Where is this drug store located?
The property is located at 3390 Elm Road NE Warren, OH.
What is the asking price?
The asking price for this property is $2,938,000.
What are key features of this property?
This property features: 14,470‑square‑foot Walgreens retail property; Built in 2004; Corner location at North River Road and Elm Road N.E.
