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    Property profile & analytics

    1560 Parkman NW Rd Warren, OH 44485-2159

    • Outlet malls
    • 11,388 SF
    • 0.81 lot acres
    OFF-MARKET
    Last Sale
    Aug 17, 2021
    $1,925,000
    Value Estimations
    $2,015,000
    Show details
    Cap Rate Potential
    4.7%
    Outlet malls
    Location Intelligence
    Property ID
    US66-2174772
    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

    • Rite Aid Pharmacy / Pharmacy
    • Rite Aid / Pharmacy
    • Amazon Locker - Aera / Courier Service / Postal Service
    • Lakshmi Padmanabhan / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 1560 Parkman NW Rd

    Year built
    1999
    Lot size
    0.81 lot acres
    Property size
    11,388 SF
    Property type
    Outlet malls
    APN
    39-063912
    APU
    39063912

    Description

    This exceptional 11,267 square foot retail space, formerly occupied by Rite Aid, is available for lease in Warren, Ohio. Located at 1560 Parkman Rd NW, this single-tenant property boasts high visibility and excellent accessibility, situated on a sizable 1.53-acre lot. The building's substantial size offers ample opportunity for a variety of retail uses. The entire space is currently vacant, presenting a blank canvas for a new tenant to customize and develop. The property is situated in Trumbull County, Ohio, and benefits from its strategic location within the Warren community, offering convenient access to major roadways and a strong customer base. The address is 1560 Parkman Rd NW, Warren, OH 44485. This is a rare opportunity to secure a significant retail presence in a thriving market. The property's size and location make it ideal for a large-format retailer or a business requiring substantial space. The ample parking available on the 1.53-acre lot ensures convenient customer access. This property is ready for immediate occupancy, allowing for a swift and efficient transition for the new tenant. Interested parties are encouraged to inquire for further details and leasing information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,330,000
      ML approach
      $2,255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,835,000
      6.5%
      $1,690,000
      7%
      $1,570,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,284,000
      Market price range: $277k - $1.28M
      AI Estimate
      $1,964,000
      Market price range: $445k - $1.96M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,220,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Trumbull
    State
    Ohio
    Longitude
    -80.8425
    Latitude
    41.2447
    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
    $26,641
    $123,480
    $287,770
    $411,250
    -
    $352,800
    $822,200
    $1,175,000

    Comparable in this City

    • Value Estimation
      $1,265,000
      9,016 SF

      1851 Tod SW Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 9,016 SF
      1851 Tod SW Ave, Warren, OH 44485-4221
      View Details
    • Value Estimation
      $725,000
      6,976 SF

      2320 Parkman NW Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 6,976 SF
      2320 Parkman NW Rd, Warren, OH 44485-1753
      View Details
    • Value Estimation
      $645,000
      5,415 SF

      2727 Parkman NW Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 5,415 SF
      2727 Parkman NW Rd, Warren, OH 44485-1636
      View Details
    • Value Estimation
      $1,415,000
      8,222 SF

      1115 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 8,222 SF
      1115 Market St, Warren, OH 44485
      View Details
    • Value Estimation
      $3,290,000
      22,740 SF

      2547 Parkman NW Rd, Unit 95

      WHOLESALE OUTLET, DISCOUNT STORE • 22,740 SF
      2547 Parkman NW Rd, Warren, OH 44485-1760
      View Details
    • Value Estimation
      $945,000
      8,418 SF

      2975 Parkman NW Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 8,418 SF
      2975 Parkman NW Rd, Warren, OH 44485-1641
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      180,488 SF

      Value-Add Shopping Center Opportunity

      180,488 SF shopping center with value-add potential.
      2553-2587 Parkman Rd NW, Warren, OH 44485
      View Details
    • $3,900,000
      180,488 SF

      Warren, OH Shopping Center

      High-Yield Retail Investment Opportunity
      2587 Parkman Rd, Warren, OH 44485
      View Details
    • Contact for pricing
      0.85 Acres

      Warren, OH Retail Outlot Opportunity

      High-traffic retail land, flexible space.
      2485 Parkman Rd, Warren, OH 44485
      View Details
    • $395,000
      5,462 SF

      Former Auto Store with Parking

      Available for sale or lease in Warren, Ohio.
      2727 Parkman Rd NW, Warren, OH 44485
      View Details
    • Contact for pricing
      3,280 SF

      Retail Property in Warren, OH

      Retail property with 3,280 square feet available for sale.
      2001-2003 Parkman Rd NW, Warren, OH 44485
      View Details
    • $225,000
      3,280 SF

      Warren, OH Retail Redevelopment Opportunity

      High-traffic corner lot, 3,280 SF, redevelopment potential.
      2003 Parkman Rd, Warren, OH 44485
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      49,662 SF

      Trumbull Plaza Retail Spaces Available

      High-traffic retail spaces, Warren, OH.
      2505 Parkman Rd, Warren, OH 44485
      View Details
    • Contact for pricing
      1,600 SF

      Retail Building with Expansion Potential

      Retail property in Warren, Ohio, with long-term tenant and available space.
      1444 Parkman Rd NW, Warren, OH 44485
      View Details
    • $11 SF/Yr
      840 SF

      Warren Office Space: 840 sq ft

      Prime Warren medical/general office space.
      2760 Parkman Rd, Warren, OH 44485
      View Details
    • $3 SF/Yr
      7,560 SF

      Warren, OH Industrial Flex Space

      7,560 SF Flex/Warehouse, Single Tenant
      1820 Highland Ave, Warren, OH 44485
      View Details
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    1560 Parkman NW Rd
    Warren, OH 44485-2159
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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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