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    Property profile & analytics

    260 Prospect Ave Hartville, OH 44632-9483

    • Grocery and convenience stores
    • 2,480 SF
    • 0.41 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2024
    $125,000
    Value Estimations
    $125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2190270
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Primo Water Refill / Bottled Water Supplier
    • U-Haul Neighborhood Dealer / Truck Rental Agency / Trailer Rental Service
    • Byte Federal Bitcoin ATM (Hartville Mini Mart) / Atm

    Property Details for 260 Prospect Ave

    Year built
    1965
    Construction
    FRAME
    Lot size
    0.41 lot acres
    Property size
    2,480 SF
    Property type
    Grocery and convenience stores
    APN
    23-01243
    APU
    2301243

    Description

    This exceptional 0.355-acre commercial land parcel, located at 260 S Prospect Ave in Hartville, Ohio (zip code 44632), presents a unique investment opportunity. Priced at $249,000, this vacant property offers 2,500 square feet of potential for development. The single-story building, constructed in 1965, is classified as Class B and sits on a sizable lot. The property's commercial zoning allows for a variety of uses, making it ideal for a retail mini-mart, office space, or other suitable commercial ventures. Its convenient location in the bustling Hartville area ensures high visibility and accessibility. The property's APN is 2301243. This is a single-tenancy property currently vacant, providing immediate opportunity for the new owner to customize the space to their specific needs. The property's prime location and substantial size offer significant potential for return on investment. Serious inquiries are encouraged to explore the possibilities this property offers. The Stark County location provides easy access to major transportation routes, further enhancing its appeal to potential businesses. This is a rare opportunity to acquire a well-situated commercial property in a thriving Ohio community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $125,000
      ML approach
      $125,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hartville
    County
    Stark
    State
    Ohio
    Longitude
    -81.3335
    Latitude
    40.9618
    CBSA code
    15940
    CBSA name
    CANTON-MASSILLON, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,205
    $26,320
    $39,690
    $66,010
    -
    $75,200
    $113,400
    $188,600

    Comparable in this City

    • Value Estimation
      $425,000
      6,384 SF

      1280 Maple St

      CONVENIENCE STORE (W/FUEL PUMP) • 6,384 SF
      1280 Maple St, Hartville, OH 44632-8516
      View Details
    • Value Estimation
      $250,000
      2,860 SF

      1100 Maple St

      CONVENIENCE STORE (W/FUEL PUMP) • 2,860 SF
      1100 Maple St, Hartville, OH 44632-9080
      View Details
    • Value Estimation
      $305,000
      6,616 SF

      1261 Maple St

      CONVENIENCE STORE (W/FUEL PUMP) • 6,616 SF
      1261 Maple St, Hartville, OH 44632-8535
      View Details
    • Value Estimation
      $295,000
      8,328 SF

      214 Market SW Ave

      GROCERY, SUPERMARKET • 8,328 SF
      214 Market SW Ave, Hartville, OH 44632-8545
      View Details
    • Value Estimation
      $470,000
      15,874 SF

      1250 Market SW Ave

      GROCERY, SUPERMARKET • 15,874 SF
      1250 Market SW Ave, Hartville, OH 44632
      View Details
    • Value Estimation by Request
      1,920 SF

      465 Maple St

      RETAIL STORES (PERSONAL SERVICES) • 1,920 SF
      465 Maple St, Hartville, OH 44632-9688
      View Details

    Similar Nearby for Sale

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      Hartville Commercial Land - $279K

      Prime .78-acre lot, high traffic area.
      1173 Maple St, Hartville, OH 44632
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      Retail/Office Land in Hartville

      0.78 acre retail/office land in a high-traffic area.
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    • $249,000

      Hartville Development Ground For Sale

      Development ground for sale in Hartville, Ohio.
      650 S Prospect Ave, Hartville, OH 44632
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      Prime 2.97-acre commercial lot near Hartville Marketplace.
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    • $550,000

      Hartville Commercial Land For Sale

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    • $95,000
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      Residential land for condo development with club amenities.
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    Similar Nearby for Lease

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      Retail Space in Hartville Center

      Retail space available in Hartville's primary retail corridor.
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    • $2,400 /Mo
      103,645 SF

      Hartville Marketplace Retail Suites Available

      Retail suites available in high-traffic Hartville Marketplace & Flea Market.
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    • Contact for pricing
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      Edison Park Shopping Center Land

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    • $8 SF/Yr
      9,260 SF

      Industrial Warehouses on Ravenna Avenue

      Multiple warehouse and office spaces available for lease.
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      View Details
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    260 Prospect Ave
    Hartville, OH 44632-9483
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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