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    2485 Parkman Rd Warren, OH 44485

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    For Sale
    Contact for pricing

    High-traffic retail land, flexible space.

    Property size:
    710 SF

    Property Features for 2485 Parkman Rd

    General Information

    Property type
    Retail properties
    Square Feet
    710 SF
    Lot Size
    37,026 SF

    We can help!

    Listing Contact
    Maggie Jones
    Maggie Jones

    Listing Agency: Goodman Real Estate Services Group LLC Listing Agent: Maggie Jones

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 0.85-acre outlot in Warren, Ohio, presents a prime retail investment opportunity. Located at 2485 Parkman Rd NW, 44485, this property offers flexible space ranging from 710 to 12,636 square feet, ideal for a variety of retail uses. The site benefits from high visibility and accessibility on State Route 422, with prominent placement on a large pylon sign. The property is situated within the thriving Trumbull Plaza shopping center, anchored by established businesses including Dollar Tree, Sparkle Market, Metro by T-Mobile, and Little Caesar's Pizza. A new Rural King is also planned for the center, further enhancing the area's retail draw. The current landlord is committed to revitalizing the entire shopping center with planned exterior improvements, ensuring a modern and attractive environment for tenants and customers. This is a rare chance to secure a well-located retail space in a growing commercial area with significant potential for success. The property's size and location make it suitable for a variety of retail concepts, offering a unique opportunity for businesses seeking high visibility and strong foot traffic. The flexible square footage allows for customization to meet specific business needs. Don't miss this chance to establish your business in a vibrant and expanding retail hub.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kmart Discount Store Kevin Busefink Pharmacy Stephanie Miglets Pharmacy

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Trumbull
    State
    Ohio
    Longitude
    -80.855513658678
    Latitude
    41.252030105995

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail land, flexible space.
    Where is this retail property located?
    The property is located at 2485 Parkman Rd Warren, OH.
    What are key features of this property?
    This property features: 0.85-acre retail outlot in Warren, OH, at 2485 Parkman Rd NW, 44485.; Flexible space from 710 to 12,636 square feet, suitable for various retail uses.; High visibility and accessibility on State Route 422 with pylon signage in Trumbull Plaza shopping center.
    (216) 381-8200 Call to check price and availability
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    2485 Parkman Rd Warren, OH 44485
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    Warren, OH 44485
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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
    2485 Parkman Rd Warren, OH 44485
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Maggie Jones
    Maggie Jones
    Real Estate License ID: SAL.2023006147
    (216) 381-8200
    Learn more
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