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Property profile & analytics
FOR LEASE
Strip malls
2789 E State St, Salem, OH 44460
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-4148899
For Lease
1 / 23
$10 SF/Yr
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Comprehensive Behavioral Health Associates Physician
-
Berkshire Hathaway HomeServices Stouffer Realty - Salem Real Estate Agency
-
Bobbi Seguin Realtor, Real Estate - Berkshire Hathaway HomeServices Stouffer Realty Real Estate Agency
-
Valley Tobacco (Bike/Boat/Book/etc) Store
-
SMS Phone Leads Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$430k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$577k
Blend (final)
Blend
$500k
Owner & transaction history
BL2 LLC
BL2 LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$820,000
+130.4%
Restaurant
$800,000
+124.6%
Apartment house (5+ units)
$765,000
+115.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$355,000
Current use
OFFICE BUILDING
$820,000
Change: +130% · Conversion: Moderate
RESTAURANT
$800,000
Change: +125% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$765,000
Change: +116% · Conversion: Difficult
RETAIL STORES
$580,000
Change: +63% · Conversion: Easy
Blend value · Realmo final
$500k
Range $450k – $550k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$55 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
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
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
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
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$355,000
OFFICE BUILDING
Est. value
$820,000
RESTAURANT
Est. value
$800,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$765,000
RETAIL STORES
Est. value
$580,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
NONE
Stories
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
BL2 LLC
Entity
Free & Clear · 0 yrs held
Mailing address
633 W MARKET ST, AKRON, OH 44303-1440
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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