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2789 E State St, Salem, OH 44460
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Property summary
AI-generated overview
This 1,056 square foot retail space is located in Unit #9 of the Quaker Square Shopping Plaza at 2789 E State St, Salem, OH 44460. The property is a Class B building constructed in 2007 and sits on 2.14 acres of land. The entire plaza encompasses 20,055 square feet, spread across two single-story buildings, offering ample parking with 20 total spaces. This single-tenant space is part of a thriving retail center, shadow-anchored by major retailers Walmart and Home Depot, ensuring high visibility and significant foot traffic. The plaza boasts a diverse mix of national, regional, and local businesses, creating a vibrant and successful commercial environment. The property's location in Salem, Ohio, offers access to a growing community and provides excellent opportunities for businesses seeking a strong retail presence. The property's APN is 5108321000. Cross street access is available via Cunningham Rd. A virtual tour is available online.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Total area
9,042 SF
Lot
0.91 ac (39,857 SF)
APN
51-08321-000
UPID
US66-4148899
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Real Estate Agency
-
Real Estate Agency
-
(Bike/Boat/Book/etc) Store
-
Consultant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$430k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$577k
Blend (final)
Blend
$430k
Owner & transaction history
Zoning & alternative use
Top alternative use upside
Office building
$820,000
+130.4%
Restaurant
$800,000
+124.6%
Apartment house (5+ units)
$765,000
+115.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$430k
Value range
$387k – $473k
±10% around blend
Estimated value / SF
$48 / SF
Confidence
Property data
88
Comparable evidence
60
Income certainty
100
$387k
blend $430k
$473k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,042 SF
Lot area
0.91 ac
Year built
2005
Stories
1
APN
51-08321-000
Assessed value
$393,960
Annual tax
$18,911
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$18,911
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$577k
Range $144k – $577k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$430k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+130%
vs current-use indication
Restaurant
Apartment House (5+ Units)
Retail Stores
Neighborhood: Shopping Center · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.33M
Move the market yield to see immediate price impact.
Value / SF
$258
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$147k
$2.94M
$2.10M
$1.63M
$163k
$3.26M
$2.33M
$1.81M
$179k
$3.59M
$2.56M
$1.99M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$18,911
Tax year 2023
Assessed value
$393,960
Assessed 2023
Previous assessed
$393,960
+0.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$76,720
Assessed improvement
$317,240
Land market value
$219,200
Improvement market value
$906,400
Total market value
$1,125,600
Applied tax rate
51.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2005
Heating
NONE
Stories
1
Total area
9,042 SF
Lot
0.91 ac (39,857 SF)
APN
51-08321-000
UPID
US66-4148899
Jurisdiction
COLUMBIANA
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
NONE
Stories
1
Lot
0.91 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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