Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Skerball Building: Mixed-Use Potential Title is generated by Realmo AI

    55 N Market Street, East Palestine, OH 44413

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two-story building in East Palestine's business district.

    Type:Special Purpose, Land
    Property size:
    12,000 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $20/SF
    Added:
    Aug 2, 2024
    Days on Market:
    672
    Last Refresh:
    May 12 at 8:54 pm

    Property Features for 55 N Market Street

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Lot size
    0.10 Acres
    Property subtype
    Special Purpose, Land

    We can help!

    Listing Contact
    Tami Harris

    Listing agent Tami Harris License #OH

    Listing office Century 21 Lakeside Realty Columbiana

    Listing date Aug 2, 2024

    Source Crexi

    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 Century 21 Lakeside Realty Columbiana

    HighLights

    • Prime location in the heart of East Palestine's business district on N. Market St.
    • Large building with over 6,000 sq ft per floor, plus a basement.
    • Includes a 38 x 120 foot adjacent lot, prepped for outdoor seating/deck.
    • First floor is gutted and ready for remodeling to suit a new business.
    • Second floor features spacious rooms, 2 bathrooms, and a rooftop deck, previously used as residential living quarters.
    • Paved walkway provides access from rear parking to the building and N. Market Street.

    Overview

    Located in the business district of East Palestine, Ohio, the Skerball Building, also known as the Skerball Building, is a two-story mixed-use property. The building has over 6,000 square feet per floor, plus a basement. The first floor has been gutted and is ready for remodeling. The property includes a 38 x 120 foot lot on the north side. A section of the adjacent lot was prepared for an outdoor deck. A paved walkway provides access from a rear parking lot to the building and the N. Market Street sidewalk. The second floor, formerly residential living quarters, features several spacious rooms, including two bathrooms and a rooftop deck. Restaurant equipment and a sound system are available on site. A water line is split for a sprinkler system. The building is located on N. Market St., between the first and second traffic lights after crossing the railroad tracks when traveling south on State Route 165/170/N. Market St. from State Route 14 in Unity Twp. East Palestine is located on the Ohio/Pennsylvania state line, approximately 25 minutes from Youngstown, Ohio, 1 hour from Pittsburgh, Pennsylvania, 40 minutes from the Pittsburgh International Airport, and 1.5 hours from Cleveland, Ohio.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    East Palestine
    County
    Columbiana
    State
    Ohio
    Longitude
    -80.5400169
    Latitude
    40.8333104

    Nearby Similar for Sale

    • $125,000
      1,924 SF

      Spacious Duplex in East Palestine

      Two-bedroom duplex with basement in East Palestine, Ohio.
      201-203 W Clark Street, East Palestine, OH 44413
      View Details
    • $129,900

      Mixed-Use Property in East Palestine

      Mixed-use property with office and apartment in East Palestine, OH.
      276 N Market, East Palestine, OH 44413
      View Details
    • Contact for pricing
      675 SF

      East Palestine Pizza Hut ForSale

      NNN leased Pizza Hut in East Palestine, Ohio.
      Market St N, East Palestine, OH
      View Details
    • $100,000

      East Palestine Corner Commercial Building

      One-story building at a busy intersection in East Palestine, OH.
      15 S Market Street, East Palestine, OH 44413
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-story building in East Palestine's business district.
    Where is this mixed-use property located?
    The property is located at 55 N Market Street East Palestine, OH.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Prime location in the heart of East Palestine's business district on N. Market St.; Large building with over 6,000 sq ft per floor, plus a basement.; Includes a 38 x 120 foot adjacent lot, prepped for outdoor seating/deck.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tami Harris
    Real Estate License ID: OH
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    55 N Market Street, East Palestine, OH 44413
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!