Net Leased KEDPLASMA
For Sale
Contact for pricing
444 Martin Luther King Jr Blvd, Youngstown, OH 44502
Single tenant property with lease through June 2030.
Property Size14,434 SF
Price / SF$330.13
Days on Market190
Property Features for 444 Martin Luther King Jr Blvd
General Information
Standard status
Active
Size
14,434 SF
Property subtype
Office, Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$385,968
Building Details
Year Built
1970
Tenancy
Single
Listing Agency:
The Boulder Group
(847) 562-0003
Listed By:
Randy Blankstein · License #IL 471005983
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 11 at 6:06AM
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 The Boulder Group
Investment Insights
Based on property information with market context.
This single-tenant net-leased property is occupied by KEDPLASMA in Youngstown, Ohio. The tenant began occupying the 16,800-square-foot building in 2015 and extended their lease early in 2020, with the primary term now running through June 2030. The lease includes 2% annual rental escalations throughout the primary term and two 5-year renewal options. The lease is guaranteed by KEDRION S.p.A. The property is located at the signalized intersection of MLK Jr Boulevard and Belmont Avenue, which experiences a combined traffic volume of 10,000 vehicles per day. It is situated near Youngstown State University, with an enrollment of 11,000 students, and Mercy Health St. Elizabeth Hospital, a 400-bed facility. The property offers access to Interstate 680 (50,200 vehicles per day) and US Highway 422 (20,200 vehicles per day). The surrounding area has a population of over 135,300 within a five-mile radius, with an average household income of $63,017. Youngstown is approximately 75 miles southeast of Cleveland and 70 miles northwest of Pittsburgh. KEDPLASMA operates over 70 plasma donation centers across the United States and is a subsidiary of Kedrion Biopharma.
Key Highlights
- Long‑term lease with KEDPLASMA through June 2030, demonstrating tenant commitment.
- Guaranteed by KEDRION S.p.A., a global biopharmaceutical company.
- Attractive lease structure with 2% annual rental escalations.
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
$146,565
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
3.08%
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%
$2,931,300
$2.9M
Cap Rate 7%
$2,093,786
$2.1M
Cap Rate 9%
$1,628,500
$1.6M
Market Conditions
NOI Build-Up for 14,434 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
$259.8K $18.00/SF
− Vacancy
−$15.5K −$1.08/SF
EGI
$244.3K $16.92/SF
− OpEx
−$97.7K −$6.77/SF
NOI
$146.6K $10.15/SF
Area
Mahoning County, OH
Vacancy
5.98%
Lease Rate
$18.00 /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%
$2,931,300
Cap Rate 7%
$2,093,786
Cap Rate 9%
$1,628,500
Alternative Uses
Best Use
Healthcare Medical
$2.09M
$1.83M – $2.44M
NOI $146,565 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,667 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 44502, OH
9,300
Population
4,354
Households
2.1
Avg Household Size
34
Median Age
9%
College-Educated
83%
High-School Grad
5.6 sq mi
ZIP Area
1,661
Density / Sq Mi
$32,259
Median Household Income
$18,571
Median Earnings
$915
Median Rent
$37,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Single tenant property with lease through June 2030.
Where is this medical center located?
The property is located at 444 Martin Luther King Jr Blvd Youngstown, OH.
What is the asking price?
The asking price for this property is $4,765,037.
What are key features of this property?
This property features: Long‑term lease with KEDPLASMA through June 2030, demonstrating tenant commitment.; Guaranteed by KEDRION S.p.A., a global biopharmaceutical company.; Attractive lease structure with 2% annual rental escalations.
