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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    220 3rd St Wellsville, OH 43968-1660

    • Retail space
    • 8,174 SF
    • 0.63 lot acres
    OFF-MARKET
    Last Sale
    Mar 28, 2022
    $1,800,000
    Value Estimations
    $1,450,000
    Show details
    Cap Rate Potential
    4.2%
    Retail space
    Location Intelligence
    Property ID
    US66-2036348
    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
    • Kimberly Mollick, RPH / Pharmacy
    • Rite Aid / Drug Store / Beauty Supply Store
    • Coinhub Bitcoin ATM Teller / Atm
    • Western Union / Money Transfer Service

    Property Details for 220 3rd St

    Year built
    1993
    Lot size
    0.63 lot acres
    Property size
    8,174 SF
    Property type
    Retail space
    APN
    84-01955-000
    APU
    8401955000

    Description

    This 7,680 square foot vacant storefront, located at 220 3rd St, Wellsville, OH 43968, presents a unique investment opportunity. The property, built in 1993, sits on a 0.75-acre lot and boasts a prime corner location at the intersection of 3rd and Broadway Streets. Currently available for sale at $1,300,000 or lease at $12 per square foot plus NNN, this single-tenant building offers significant potential for redevelopment. Its previous use as a drugstore makes it ideally suited for conversion to other retail or healthcare uses. The property benefits from a strong location, with proximity to East Liverpool City Hospital (130 acute beds, 4 miles away) and a surrounding area with an average household income exceeding $54,373 within a one-mile radius. The building is vacant, offering immediate occupancy for a new tenant or owner-operator. This is a net lease property with no existing tenant credit rating. The property's size and location make it an attractive option for a variety of businesses seeking a high-visibility storefront in a well-established community. The building is a free-standing structure, providing ample space and flexibility for future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,595,000
      ML approach
      $1,535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,110,000
      6.5%
      $1,025,000
      7%
      $950,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wellsville
    County
    Columbiana
    State
    Ohio
    Longitude
    -80.6422
    Latitude
    40.6107
    CBSA code
    41400
    CBSA name
    SALEM, OH MICROPOLITAN 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
    $9,581
    $9,170
    $153,340
    $162,510
    -
    $26,200
    $438,100
    $464,300

    Comparable in this City

    • Value Estimation
      $240,000
      7,200 SF

      460 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      460 Main St, Wellsville, OH 43968-1684
      View Details
    • Value Estimation
      $260,000
      3,532 SF

      17th St

      RETAIL STORES (PERSONAL SERVICES) • 3,532 SF
      17th St, Wellsville, OH 43968
      View Details
    • Value Estimation
      $135,000
      3,780 SF

      241 Wls Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,780 SF
      241 Wls Ave, Wellsville, OH 43968-1752
      View Details
    • Value Estimation
      $80,000
      6,504 SF

      409 Broadway Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,504 SF
      409 Broadway Ave, Wellsville, OH 43968-1652
      View Details
    • Value Estimation
      $195,000
      4,400 SF

      447 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      447 Main St, Wellsville, OH 43968-1685
      View Details
    • Value Estimation
      $305,000
      2,874 SF

      455 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,874 SF
      455 Main St, Wellsville, OH 43968-1685
      View Details

    Similar Nearby for Sale

    • $1,040,000
      2,266 SF

      Wellsville, OH NNN Retail Property

      Long-term NNN lease with annual rental increases and renewal options.
      556 Main St, Wellsville, OH 43968
      View Details
    • $500,000
      1.62 Acres

      Profitable Store with Apartment, Garage

      Successful convenience store with apartment and garage for sale.
      17408 Sr 45, Wellsville, OH 43968
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    • $488,888
      8,000 SF

      Established Retail Property For Sale

      Retail property with long-term tenant and minimal landlord responsibilities.
      1230 Main St, Wellsville, OH 43968
      View Details
    • $545,000
      3.48 Acres

      Equipped Foundry & Warehouse Opportunity

      3.48-acre industrial site with foundry, warehouse, and office space.
      18150 Fife Coal Rd, Wellsville, OH 43968
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    • $100,000
      1,656 SF

      Wellsville Multi-Family Home For Sale

      Multi-family home with two units, newer features, great rental potential.
      1751 Crawford Ave, Wellsville, OH 43968
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    • $299,500
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      Turnkey Ice Cream Shop, Wellsville, OH

      Established Business, Highway Frontage, Updated
      41582 State Rte 39 Hwy, Wellsville, OH 43968
      View Details
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    220 3rd St
    Wellsville, OH 43968-1660
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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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