Mixed-Use Property with Detached
For Sale
$189,900
777 N Ellsworth Avenue, Salem, OH 44460
Retail space, a detached garage, and a two-story residence occupy one flexible commercial property.
Property Size1,456 SF
Days on Market75
Property Features for 777 N Ellsworth Avenue
General Information
Standard status
Active
Size
1,456 SF
Total Parking Spaces
9
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,006
Building Details
Building Size
1,456 SF
Year Built
1930
Buildings
3
Listing Agency:
RE/MAX Crossroads Properties
(440) 781-4531
Listed By:
Cole Belter · License #2024004251
(440) 781-4531
Source:
Carolgoffrealestate
Added: Jun 17
Changed: Aug 30
Last Checked: Aug 30 at 10:38AM
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 RE/MAX Crossroads Properties
Investment Insights
Based on property information with market context.
This mixed-use property combines a retail/commercial building, a detached garage, and a two-story residential home on one site. The commercial building includes 9 dedicated parking spaces and can accommodate a range of storefront, office, service, or retail operations. The garage adds separate storage or workshop space, while the residence creates the possibility of living on-site or maintaining a distinct residential component.
Located at 777 N Ellsworth Avenue in Salem, Ohio, the property offers a combined commercial and residential configuration. Built in 1930, it may suit an owner-user, business operator, or investor seeking multiple components within a single property.
Located at 777 N Ellsworth Avenue in Salem, Ohio, the property offers a combined commercial and residential configuration. Built in 1930, it may suit an owner-user, business operator, or investor seeking multiple components within a single property.
Key Highlights
- Mixed‑use property at 777 N Ellsworth Avenue, Salem, OH 44460
- Retail/commercial building with 9 dedicated parking spaces
- Detached garage provides separate storage or workshop space
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
$14,742
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
7.76%
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%
$294,840
$294.8K
Cap Rate 7%
$210,600
$210.6K
Cap Rate 9%
$163,800
$163.8K
Market Conditions
NOI Build-Up for 1,456 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
$26.2K $18.00/SF
− Vacancy
−$2.6K −$1.80/SF
EGI
$23.6K $16.20/SF
− OpEx
−$8.8K −$6.07/SF
NOI
$14.7K $10.13/SF
Area
Columbiana County, OH
Vacancy
10.00%
Lease Rate
$18.00 /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%
$294,840
Cap Rate 7%
$210,600
Cap Rate 9%
$163,800
Alternative Uses
Best Use
Mixed Use
$210.6K
$184.3K – $245.7K
NOI $14,742 @ 7.0% cap · market cap 7.76%
Second Best
Retail
$169.1K
$148.0K – $197.3K
NOI $11,839 @ 7.0% cap · market cap 6.23%
Theoretical Best
Warehouse
$1.23M
$1.08M – $1.43M
NOI $86,092 @ 7.0% cap · market cap 45.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
46k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 9%
Beauty & Spa 2%
Speedway
Shops & Services
14,042 visits/mo
0.4 miles
Huntington Bank
Shops & Services
10,325 visits/mo
0.4 miles
Chase Bank
Shops & Services
5,804 visits/mo
0.5 miles
Pizza Hut
Dining
4,330 visits/mo
0.4 miles
Family Dollar
Shops & Services
3,209 visits/mo
0.4 miles
Demographics for 44460, OH
25,393
Population
11,595
Households
2.2
Avg Household Size
46
Median Age
20%
College-Educated
90%
High-School Grad
107.4 sq mi
ZIP Area
236
Density / Sq Mi
$59,882
Median Household Income
$35,912
Median Earnings
$770
Median Rent
$153,200
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?
Mixed-use property - Retail space, a detached garage, and a two-story residence occupy one flexible commercial property.
Where is this mixed-use property located?
The property is located at 777 N Ellsworth Avenue Salem, OH.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Mixed‑use property at 777 N Ellsworth Avenue, Salem, OH 44460; Retail/commercial building with 9 dedicated parking spaces; Detached garage provides separate storage or workshop space
