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    Property profile & analytics

    1340 Belmont Ave Youngstown, OH 44504

    • Medical offices
    • 22,110 SF
    • 1.40 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    Jul 12, 2022
    $2,300,000
    Value Estimations
    $2,285,000
    Cap Rate Potential
    9.9%
    Medical offices
    Location Intelligence
    Property ID
    US66-1320578
    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

    • Kathleen Padgitt / Nephrologist
    • Bednar Marlene MD / Doctor
    • Nichole Pore / Registered General Nurse / Nurse Practitioner
    • H M Laboratory-Belmont / Medical Laboratory
    • Strieter Medical Group / Medical Group

    Property Details for 1340 Belmont Ave

    Year built
    1950
    Lot size
    1.40 lot acres
    Property size
    22,110 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    53-079-0-523.00-0
    APU
    530790523000

    Description

    This exceptional single-tenant medical office building, located at 1340 Belmont Avenue in Youngstown, Ohio, presents a unique investment opportunity. The property boasts a substantial 2,505 square feet of first-floor space, ideally suited for a variety of medical practices, particularly dentistry. Constructed in 1950 and renovated in 1997, the building is classified as Class B and sits on a generous 1.4-acre lot. The convenient location offers easy access for patients and staff, situated just a short distance from Mercy Health Main Hospital. Ample on-site parking is provided with 77 spaces, ensuring convenience for patients and staff. The property is zoned MU-C and features a single-story building. The building's Property Identification Number (APN) is 53-079-0-523.00-0, and it is located in Mahoning County, Ohio, with a zip code of 44504. The potential for expansion exists, with the possibility of combining units and accessing additional space within the building. This property offers a blend of established infrastructure and convenient location, making it an attractive option for medical professionals seeking a well-maintained and accessible office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,275,000
      ML approach
      $2,270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,082,000
      Market price range: $1.02M - $3.03M
      AI Estimate
      $1,585,000
      Market price range: $930k - $2.23M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,110,000
      Current use
      RETAIL STORES
      $2,050,000
      Change: -3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,880,000
      Change: -11% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,740,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Youngstown
    County
    Mahoning
    State
    Ohio
    Longitude
    -80.658
    Latitude
    41.1179
    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
    $51,620
    $42,810
    $672,700
    $715,510
    -
    $122,320
    $1,922,010
    $2,044,330

    Comparable in this City

    • Value Estimation by Request
      2,914 SF

      2911 Northview Blvd

      MEDICAL BUILDING • 2,914 SF
      2911 Northview Blvd, Youngstown, OH 44504-1201
      View Details
    • Value Estimation
      $2,145,000
      27,466 SF

      1053 Belmont Ave

      MEDICAL BUILDING • 27,466 SF
      1053 Belmont Ave, Youngstown, OH 44504-1007
      View Details
    • Value Estimation by Request
      0.44 Acres

      Park Ave

      MEDICAL BUILDING • 0.44 Acres
      Park Ave, Youngstown, OH 44504
      View Details
    • Value Estimation by Request
      3,364 SF

      1201 Belmont Ave

      MEDICAL BUILDING • 3,364 SF
      1201 Belmont Ave, Youngstown, OH 44504-1101
      View Details
    • Value Estimation by Request
      0.20 Acres

      1044 Belmont Ave

      MEDICAL BUILDING • 0.20 Acres
      1044 Belmont Ave, Youngstown, OH 44504-1006
      View Details
    • Value Estimation by Request
      6,505 SF

      1220 Belmont Ave

      MEDICAL BUILDING • 6,505 SF
      1220 Belmont Ave, Youngstown, OH 44504-1102
      View Details

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    1340 Belmont Ave
    Youngstown, OH 44504
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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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