Strip Center with Vacant
New
For Sale
$1,050,000
60 N Canfield Niles Rd, Austintown, OH 44515
Multi-tenant retail center with one vacant suite and staggered lease expirations.
Property Size10,545 SF
Price / SF$99.57
Days on Market3
Property Features for 60 N Canfield Niles Rd
General Information
Standard status
Active
Size
10,545 SF
Property subtype
Shopping Strip
Occupancy
92%
Financials
Asking Price
$1,050,000
Cap Rate
8.75%
Additional Details
Highway Access
Yes
Amenities
VALUE-ADD UPSIDE -BELOW MARKET RENTS / GROSS LEASES The center carries an average in-place rent of $14.35/SF, with tenants on Gross leases and below market rents.
ATTRACTIVE BASIS Offered at $1,050,000, or $99.57 per square foot, the asset trades well below replacement cost in a metro anchored by Mercy Health, Akron Children's Hospital.
STRONG RETAIL LOCATION The property fronts N Canfield Niles Road in Austintown, a primary retail and commuter corridor serving western Mahoning County within the Youngstown-Warren metro.
Building Details
Building Size
10,545 SF
Year Built
1990
Tenancy
Multi
Listing Agency:
(813) 387-4819
Listed By:
Frank Simcic · License #License(s): FL: SL3553824
(813) 387-4819
Source:
Marcusmillichap
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 1:20PM
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 Frank Simcic
Investment Insights
Based on property information with market context.
This 10,545-square-foot strip center contains four suites, with 92.4% of the space leased to Aspire Mental Health, Community Home Medical, and Austintown Pools & Spas. The remaining 800-square-foot suite is available for occupancy. Existing leases are generally structured as gross leases, while Community Home Medical’s agreement provides for pro-rata NNN reimbursements and a 15% administrative fee on CAM. Lease terms are staggered, with Community Home Medical having occupied the property since 2012 under a 10-year extension and Aspire Mental Health having expanded and extended for 5 years.
Located at 60 N Canfield Niles Rd in Austintown, the property fronts N Canfield Niles Road, a retail and commuter corridor. Interstate 80 and State Route 11 are minutes away. The surrounding five-mile area includes 75,367 residents, 34,113 households, and a daytime population of 64,956. The center is positioned within the Youngstown-Warren metro and western Mahoning County.
Located at 60 N Canfield Niles Rd in Austintown, the property fronts N Canfield Niles Road, a retail and commuter corridor. Interstate 80 and State Route 11 are minutes away. The surrounding five-mile area includes 75,367 residents, 34,113 households, and a daytime population of 64,956. The center is positioned within the Youngstown-Warren metro and western Mahoning County.
Key Highlights
- 10,545 SF strip center with 92.4% leased space
- Three existing tenants: Aspire Mental Health, Community Home Medical, and Austintown Pools & Spas
- 800 SF vacant suite available for leasing
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
$33,217
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
3.16%
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%
$664,340
$664.3K
Cap Rate 7%
$474,529
$474.5K
Cap Rate 9%
$369,078
$369.1K
Market Conditions
NOI Build-Up for 10,545 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
$63.3K $6.00/SF
− Vacancy
−$15.8K −$1.50/SF
EGI
$47.5K $4.50/SF
− OpEx
−$14.2K −$1.35/SF
NOI
$33.2K $3.15/SF
Area
Mahoning County, OH
Vacancy
25.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
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%
$664,340
Cap Rate 7%
$474,529
Cap Rate 9%
$369,078
Alternative Uses
Best Use
Retail
$474.5K
$415.2K – $553.6K
NOI $33,217 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,295 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
92.4%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 44515, OH
27,480
Population
13,992
Households
2
Avg Household Size
44
Median Age
21%
College-Educated
94%
High-School Grad
18.5 sq mi
ZIP Area
1,485
Density / Sq Mi
$52,831
Median Household Income
$36,156
Median Earnings
$766
Median Rent
$142,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail center with one vacant suite and staggered lease expirations.
Where is this strip mall located?
The property is located at 60 N Canfield Niles Rd Austintown, OH.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 10,545 SF strip center with 92.4% leased space; Three existing tenants: Aspire Mental Health, Community Home Medical, and Austintown Pools & Spas; 800 SF vacant suite available for leasing
