Mixed-Use Building with
For Sale
$550,000
5600 Market St, Boardman, OH 44512
A combined retail-first-floor and apartment-second-floor property with approved residential units, ample parking, and high-traffic exposure.
Property Size5,270 SF
Lot Size1.00 Acre
Price / SF$104.36
Days on Market53
Property Features for 5600 Market St
General Information
Standard status
Active
Size
5,270 SF
Total Parking Spaces
55
Lot size
1.00 Acre
Additional Details
Traffic Count
18,000 vehicles/day
Multifamily Units
8
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
D'Amico Agency
(330) 782-3381
Listed By:
Tom D'Amico
(330) 782-3381
Source:
Exprealty
Added: Jun 15
Changed: Jul 10
Last Checked: Jul 31 at 12:38PM
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 D'Amico Agency
Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 5,270 square feet of commercial space on the first floor and approximately 10,370 square feet of residential space on the second floor. The site is approved for eight residential apartments, offering an established framework for residential income generation alongside ground-floor commercial use. The property sits on 1 acre and provides 55 parking spaces. Separate gas and electric utilities are in place for the building.
The building is located along a high-visibility main road with a daily traffic count of nearly 18,000 vehicles, supporting strong visibility and convenient customer access. It is positioned 1 mile north of State Route 224, and the surrounding area includes nearby shopping centers, Mill Creek MetroParks, Boardman Park, and Akron Children’s Hospital.
For buyers and operators, the configuration supports a dual-use strategy that can serve both retail customers and residents. The approved eight-apartment setup can help streamline planning for residential development within the existing building footprint, while the dedicated commercial level may support a retail tenant or other storefront-oriented use consistent with the property’s current layout.
The building is located along a high-visibility main road with a daily traffic count of nearly 18,000 vehicles, supporting strong visibility and convenient customer access. It is positioned 1 mile north of State Route 224, and the surrounding area includes nearby shopping centers, Mill Creek MetroParks, Boardman Park, and Akron Children’s Hospital.
For buyers and operators, the configuration supports a dual-use strategy that can serve both retail customers and residents. The approved eight-apartment setup can help streamline planning for residential development within the existing building footprint, while the dedicated commercial level may support a retail tenant or other storefront-oriented use consistent with the property’s current layout.
Key Highlights
- Mixed‑use building with ~5,270 SF commercial space on the first floor and ~10,370 SF residential space on the second floor
- Approved for eight residential apartments for rental income potential
- 1‑acre site with 55 parking spaces
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
$39,525
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
7.19%
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%
$790,500
$790.5K
Cap Rate 7%
$564,643
$564.6K
Cap Rate 9%
$439,167
$439.2K
Market Conditions
NOI Build-Up for 5,270 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
$79.1K $15.00/SF
− Vacancy
−$15.8K −$3.00/SF
EGI
$63.2K $12.00/SF
− OpEx
−$23.7K −$4.50/SF
NOI
$39.5K $7.50/SF
Area
Mahoning County, OH
Vacancy
20.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$790,500
Cap Rate 7%
$564,643
Cap Rate 9%
$439,167
Alternative Uses
Best Use
Mixed Use
$564.6K
$494.1K – $658.8K
NOI $39,525 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$467.2K
$408.8K – $545.0K
NOI $32,702 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$994.5K
$870.2K – $1.16M
NOI $69,615 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
18,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 44512, OH
33,282
Population
15,770
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
94%
High-School Grad
17.0 sq mi
ZIP Area
1,958
Density / Sq Mi
$62,311
Median Household Income
$38,828
Median Earnings
$788
Median Rent
$158,800
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - A combined retail-first-floor and apartment-second-floor property with approved residential units, ample parking, and high-traffic exposure.
Where is this mixed-use property located?
The property is located at 5600 Market St Boardman, OH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Mixed‑use building with ~5,270 SF commercial space on the first floor and ~10,370 SF residential space on the second floor; Approved for eight residential apartments for rental income potential; 1‑acre site with 55 parking spaces
