Former Rite Aid For
For Sale
Contact for pricing
3030 Market Ave N, Canton, OH 44714
Former Rite Aid with drive-thru near high-traffic intersection.
Property Size11,335 SF
Price / SF$149.98
Days on Market709
Property Features for 3030 Market Ave N
General Information
Standard status
Active
Size
11,335 SF
Property subtype
Retail
Zoning
B1
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1998
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
NAI Spring
Listed By:
Sean Sanford · License #SAL.0000399521
(330) 284-0331
Source:
Crexi
Added: Sep 26, 2024
Changed: Aug 26
Last Checked: Sep 2 at 12:51AM
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 NAI Spring
Investment Insights
Based on property information with market context.
This property, formerly a Rite Aid, is located near the intersection of Market Avenue N and 30th Street, an area characterized by high traffic volume. The building features a drive-thru and a rear overhead door. The property has a size of 11335 square feet and is suitable for commercial real estate, retail spaces, and drug stores.
Key Highlights
- High traffic location at the intersection of Market Ave N and 30th Street.
- Former Rite Aid location.
- Drive‑thru access.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$123,311
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,466,220
$2.5M
Cap Rate 7%
$1,761,586
$1.8M
Cap Rate 9%
$1,370,122
$1.4M
Market Conditions
NOI Build-Up for 11,335 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$170.0K $15.00/SF
− Vacancy
−$5.6K −$0.50/SF
EGI
$164.4K $14.50/SF
− OpEx
−$41.1K −$3.63/SF
NOI
$123.3K $10.88/SF
Area
Stark County, OH
Vacancy
3.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,466,220
Cap Rate 7%
$1,761,586
Cap Rate 9%
$1,370,122
Alternative Uses
Best Use
Retail
$2.96M
$2.59M – $3.45M
NOI $207,162 @ 7.0% cap · market cap 12.19%
Second Best
Specialty Retail
$1.76M
$1.54M – $2.06M
NOI $123,311 @ 7.0% cap · market cap 7.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44714, OH
8,923
Population
4,458
Households
2
Avg Household Size
42
Median Age
26%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
3,432
Density / Sq Mi
$57,583
Median Household Income
$37,238
Median Earnings
$901
Median Rent
$143,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Giant Eagle Pharmacy — 3100 Cromer Ave NW, Canton, OH 44709
- Tara Hubert — 3100 Cromer Ave NW, Canton, OH 447092910
- Charles Anderson — 3030 Market Ave N, Canton, OH 447141428
- Rite Aid Pharmacy — 3030 Market Ave N, Canton, OH 44714
Frequently Asked Questions
What type of property is this?
Drug store - Former Rite Aid with drive-thru near high-traffic intersection.
Where is this drug store located?
The property is located at 3030 Market Ave N Canton, OH.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: High traffic location at the intersection of Market Ave N and 30th Street.; Former Rite Aid location.; Drive‑thru access.
