Leased Drug Store Retail
For Sale
$921,658
693 McCartney Road, Youngstown, OH 44505
Built in 1996 and leased to Rite Aid, this high-visibility retail site sits on a main corridor.
Property Size10,376 SF
Price / SF$88.83
Days on Market152
Property Features for 693 McCartney Road
General Information
Standard status
Active
Size
10,376 SF
Property subtype
Retail
Building Details
Year Built
1996
Tenancy
Single
Listing Agency:
CBRE - Cleveland
Listed By:
Kevin Moss · License #SAL.2015001299
(216) 363-6453
Source:
Cbre
Added: Apr 10
Changed: Sep 7
Last Checked: Sep 7 at 6:35AM
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 built-in-1996 retail drug store is leased to Rite Aid Drugs. The facility is described as a modern, high-visibility location that has operated at this address for 22 years. The current lease provides a 4-year term plus remaining options, and the property is reported to have very strong sales.
The site is located on a main business corridor along State Route 422, about 10 minutes east of Youngstown State University. It is directly across from Lincoln-Knowls Plaza shopping center, which includes tenants such as Dollar General, Citi Trends, Save-a-Lot, McDonald’s, and Burger King.
For a buyer or future operator, the property offers an established retail footprint with continued income under the existing Rite Aid lease, whether through the current operator or the next tenancy at expiration.
The site is located on a main business corridor along State Route 422, about 10 minutes east of Youngstown State University. It is directly across from Lincoln-Knowls Plaza shopping center, which includes tenants such as Dollar General, Citi Trends, Save-a-Lot, McDonald’s, and Burger King.
For a buyer or future operator, the property offers an established retail footprint with continued income under the existing Rite Aid lease, whether through the current operator or the next tenancy at expiration.
Key Highlights
- Built in 1996 and currently leased to Rite Aid Drugs.
- High‑visibility retail site on a main traffic corridor along State Route 422.
- Lease term includes 4 years plus 4 (5‑year) options remaining, according to the listing.
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
$32,684
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
3.55%
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%
$653,680
$653.7K
Cap Rate 7%
$466,914
$466.9K
Cap Rate 9%
$363,156
$363.2K
Market Conditions
NOI Build-Up for 10,376 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
$62.3K $6.00/SF
− Vacancy
−$15.6K −$1.50/SF
EGI
$46.7K $4.50/SF
− OpEx
−$14.0K −$1.35/SF
NOI
$32.7K $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%
$653,680
Cap Rate 7%
$466,914
Cap Rate 9%
$363,156
Alternative Uses
Best Use
Specialty Retail
$1.57M
$1.37M – $1.83M
NOI $109,750 @ 7.0% cap · market cap 11.91%
Second Best
Retail
$466.9K
$408.6K – $544.7K
NOI $32,684 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,063 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
72k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 31%
Groceries 17%
Apparel 6%
McDonald's
Dining
16,483 visits/mo
0.2 miles
Save-A-Lot
Groceries
12,602 visits/mo
0.0 miles
Dunkin' Donuts
Dining
11,307 visits/mo
0.4 miles
Dollar General
Shops & Services
6,054 visits/mo
0.2 miles
Huntington Bank
Shops & Services
5,693 visits/mo
0.1 miles
Demographics for 44505, OH
17,048
Population
7,524
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
86%
High-School Grad
18.0 sq mi
ZIP Area
947
Density / Sq Mi
$36,480
Median Household Income
$28,270
Median Earnings
$644
Median Rent
$82,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Walgreens Pharmacy — 2654 Mc Cartney Rd, Youngstown, OH 44505
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- Lori Culbertson — 2864 Mc Cartney Rd, Youngstown, OH 445055021
- Walgreens — 2864 McCartney Rd, Youngstown, OH 44505
- John F. Mingo, RPh — 693 McCartney Rd, Campbell, OH 44405
Frequently Asked Questions
What type of property is this?
Drug store - Built in 1996 and leased to Rite Aid, this high-visibility retail site sits on a main corridor.
Where is this drug store located?
The property is located at 693 McCartney Road Youngstown, OH.
What is the asking price?
The asking price for this property is $921,658.
What are key features of this property?
This property features: Built in 1996 and currently leased to Rite Aid Drugs.; High‑visibility retail site on a main traffic corridor along State Route 422.; Lease term includes 4 years plus 4 (5‑year) options remaining, according to the listing.
