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    8578 Market St Boardman, OH 44512

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    For Lease
    Contact for pricing

    High-traffic retail space, multiple suites available.

    Lot size:
    20,870 SF

    Property Features for 8578 Market St

    General Information

    Property type
    Specialty properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,870 SF
    Total Rate
    20870

    Spaces For Lease

    at 8578 Market St, Boardman, OH 44512 Contact us
    Unit Available Space 2

    $12 /Mo

    Size
    9,180 SF
    Contact us
    Unit Available Space

    $12 /Mo

    Size
    8,920 SF
    Contact us
    Unit Available Space 3

    $12 /Mo

    Size
    2,803 SF
    Contact us

    We can help!

    Listing Contact
    Kelly Cocca

    Listing Agency: Cocca Development, Ltd Listing Agent: Kelly Cocca

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property located at 8578 Market Street in Boardman, Ohio (zip code 44512), offers a total of 20,870 square feet of retail, restaurant, or special purpose space. The building is divided into three suites, providing flexibility for various business needs. Currently, there is 18,100 square feet of vacant space available, offering significant opportunities for expansion or multiple tenants. The minimum divisible space is 5,000 square feet, while the maximum contiguous space available is 18,100 square feet. The property's prime location ensures high visibility and accessibility for customers. One available space previously housed a charcuterie board business (2,803 sq ft) and will be available January 1st, 2025. Another significant portion (9,180 sq ft) was formerly occupied by a Family Dollar store, which underwent renovations in late 2019 and has a lease extending until January 31st, 2029. An additional 8,920 square feet of space is available adjacent to the Family Dollar space. This property presents a unique opportunity for businesses seeking high-visibility locations in a thriving commercial area. The property is situated in Boardman, Ohio, offering excellent access to major transportation routes and a strong customer base. This versatile space is ideal for a variety of retail or restaurant concepts, or a business requiring a large, adaptable footprint.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boardman
    County
    Mahoning
    State
    Ohio
    Longitude
    -80.6636438
    Latitude
    40.9889739

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    FAQs

    What type of property is this?
    Specialty property - High-traffic retail space, multiple suites available.
    Where is this specialty property located?
    The property is located at 8578 Market St Boardman, OH.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 20,870 SF retail/restaurant/special purpose space available at 8578 Market Street, Boardman, OH 44512.; Three suites available, offering flexibility for various business needs.; 18,100 SF of vacant space available; minimum divisible space is 5,000 SF, maximum contiguous space is 18,100 SF.
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    8578 Market St Boardman, OH 44512
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    Boardman, OH 44512
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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
    8578 Market St Boardman, OH 44512
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    Contact for Pricing
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    Kelly Cocca
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