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    Property profile & analytics

    603 State St Girard, OH 44420-1748

    • Medical offices
    • 2,702 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Mar 26, 2024
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    8.7%
    Medical offices
    Location Intelligence
    Property ID
    US66-0064348
    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

    • Medical offices

    Property Details for 603 State St

    Year built
    1978
    Lot size
    0.23 lot acres
    Property size
    2,702 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    14-100604
    APU
    14100604

    Description

    This exceptional 2,702 square foot medical office building presents a unique investment opportunity in Trumbull County. Situated on a highly visible corner lot, this single-tenant property boasts a dedicated parking lot, ensuring convenient access for patients and staff. The building itself is a turnkey operation, ready for immediate occupancy. The interior is designed to meet the needs of a medical practice, offering a professional and efficient workspace. A significant advantage is the inclusion of a spacious basement, providing ample storage space to accommodate the requirements of a busy medical office. The building's location just north of I-80 offers exceptional accessibility and visibility, attracting a wide range of potential patients. This property is ideal for established medical practices seeking to expand or for new practices looking for a move-in ready space. The combination of prime location, ample parking, and substantial storage makes this a truly exceptional offering in the competitive medical office market. The building's single-tenant occupancy provides stability and ease of management. This is a rare opportunity to acquire a well-maintained, functional medical office building in a desirable location with excellent visibility and convenient access. The property's turnkey nature minimizes upfront investment and allows for immediate revenue generation. Don't miss this chance to own a thriving medical office building in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $435,000
      6.5%
      $400,000
      7%
      $375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $192,000
      Market price range: $124k - $307k
      AI Estimate
      $215,000
      Market price range: $157k - $337k

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

    Location Insight

    • Map
    • Local Demand
    City
    Girard
    County
    Trumbull
    State
    Ohio
    Longitude
    -80.7027
    Latitude
    41.1604
    CBSA code
    49660
    CBSA name
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 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
    $3,749
    $9,630
    $57,120
    $66,750
    -
    $27,500
    $163,200
    $190,700

    Comparable in this City

    • Value Estimation
      $285,000
      2,638 SF

      514 State St

      MEDICAL BUILDING • 2,638 SF
      514 State St, Girard, OH 44420-1745
      View Details
    • Value Estimation
      $245,000
      0.15 Acres

      Liberty

      MEDICAL BUILDING • 0.15 Acres
      Liberty, Girard, OH 44420
      View Details
    • Value Estimation
      $260,000
      2,022 SF

      24 State St

      MEDICAL BUILDING • 2,022 SF
      24 State St, Girard, OH 44420-2907
      View Details
    • Value Estimation
      $300,000
      3,519 SF

      798 Liberty St

      MEDICAL BUILDING • 3,519 SF
      798 Liberty St, Girard, OH 44420-2316
      View Details
    • Value Estimation
      $270,000
      0.06 Acres

      121 Liberty St

      MEDICAL BUILDING • 0.06 Acres
      121 Liberty St, Girard, OH 44420-2649
      View Details
    • Value Estimation
      $300,000
      4,930 SF

      1616 Liberty Ave

      MEDICAL BUILDING • 4,930 SF
      1616 Liberty Ave, Girard, OH 44420
      View Details

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    Similar Nearby for Lease

    • $350 /Mo
      12,824 SF

      Functional Office Space For Rent

      Flexible office space with utilities included in Girard, Ohio.
      325 N State St, Girard, OH 44420
      View Details
    • $1,000 /Mo
      48,787 SF

      Girard Office Suite For Rent

      Spacious office suite with 6 offices, kitchen, and storage.
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      View Details
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    603 State St
    Girard, OH 44420-1748
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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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