Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2870 E State St Salem, OH 44460
    Property profile & analytics

    2870 E State St, Salem, OH 44460

    View on Map
    • Super regional malls
    • 13,660 SF
    • 3.40 lot acres
    For Sale
    $750,000
    View Listing →
    Commercial Land Near Retail Hub For Sale
    $750,000
    2.10 Acres

    Commercial Land Near Retail Hub

    2.1 acres of commercial land for sale.

    2870 E State St, Salem, OH 44460
    View Listing
    Property ID
    US66-1383073
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rent-A-Center / Furniture & Home Goods / Home Decor Store
    • Brighton Hot Dog Shoppe / Restaurant
    • Tax 29 Salem / Tax Preparation
    • Verizon / Electronics & Wireless Store
    • The Sweepstakes Club / Cafe & Coffee Shop

    Property Details for 2870 E State St

    Year built
    2007
    Lot size
    3.40 lot acres
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    56-017-0-004.05-0
    APU
    560170004050

    Description

    This exceptional 2.5-acre parcel of land presents a remarkable investment opportunity in Salem, Ohio. Strategically located on East State Street, this property enjoys high visibility and convenient access, situated near major retail anchors such as Home Depot and a Walmart Supercenter. The property's address is 2870 E State St, Salem, OH 44460, with an APN of 56-017-0-004.05-0. Currently listed at $750,000, this land offers significant potential for various development projects. The lot size is 2.5 acres, providing ample space for a wide range of commercial or industrial ventures. Please note that the property is to be replatted, and any existing buildings are not included in the sale

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $705,000
      Market price range: $365k - $705k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $505,000
      Current use
      RETAIL STORES
      $875,000
      Change: +73% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Mahoning
    State
    Ohio
    Longitude
    -80.819
    Latitude
    40.9028
    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
    $33,234
    $222,820
    $436,870
    $659,690
    -
    $636,630
    $1,248,210
    $1,884,840

    Comparable in this City

    • Value Estimation
      $1,985,000
      16,038 SF

      2955 State St

      REGIONAL SHOPPING CENTER, MALL
      2955 State St, Salem, OH 44460-9307
      View Details
    • Value Estimation
      $2,365,000
      136,742 SF

      2875 Benton Rd

      REGIONAL SHOPPING CENTER, MALL
      2875 Benton Rd, Salem, OH 44460
      View Details
    • Value Estimation
      $1,135,000
      17,100 SF

      200 2nd St

      SHOPPING CENTER, STRIP CENTER
      200 2nd St, Salem, OH 44460-2851
      View Details
    • Value Estimation by Request
      8,000 SF

      Pershing St

      SHOPPING CENTER, STRIP CENTER
      Pershing St, Salem, OH 44460
      View Details
    • Value Estimation
      $1,965,000
      60,581 SF

      2340 2350th 23rd E State St

      SHOPPING CENTER, STRIP CENTER
      2340 2350th 23rd E State St, Salem, OH 44460
      View Details
    • Value Estimation by Request
      6,104 SF

      2842 State St

      WHOLESALE OUTLET, DISCOUNT STORE
      2842 State St, Salem, OH 44460-9303
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,000 SF

      Salem Industrial Park Flex Space

      Flex space with office and garage in Salem Industrial Park.
      1455 Quaker Cir, Salem, OH 44460
      View Details
    • Contact for pricing

      Retail Property for Sale

      Retail property available for purchase in Salem, Ohio.
      2340 East State St, Salem, OH 44460
      View Details
    • Contact for pricing
      30,200 SF

      Former Dealership on 5 Acres

      30,200 SF showroom and service garages on 5+ acres.
      152 Continental Dr, Salem, OH 44460
      View Details
    • Contact for pricing
      14,737 SF

      Former Rite Aid For Sale

      Former Rite Aid property in a vibrant healthcare corridor.
      2229 E State St, Salem, OH 44460
      View Details
    • Contact for pricing
      1,344 SF

      Downtown Salem Commercial Corner Property

      Commercial property in downtown Salem, Ohio, formerly a gas station.
      178 N Ellsworth Ave, Salem, OH 44460
      View Details
    • Contact for pricing
      7,347 SF

      Downtown Salem Mixed-Use Investment Property

      Mixed-use property with retail and apartment units in Salem.
      241 E State St, Salem, OH 44460
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail Space in Renovated Mall

      Recently renovated retail space with ample parking and co-tenants.
      200 E 2Nd St, Salem, OH 44460
      View Details
    • Contact for pricing

      Retail Space in Quaker Square

      Prime retail space in a thriving Salem, Ohio shopping center.
      2789 E State St, Salem, OH 44460
      View Details
    • $1,000 /Mo
      5,410 SF

      Salem, OH Retail/Office Space

      Commercial retail or office space with dedicated parking available for lease.
      111 Jennings Ave, Salem, OH 44460
      View Details
    • Contact for pricing

      Retail Space in Quaker Square

      Prime retail space in a thriving Salem shopping plaza.
      2789 E State St, Salem, OH 44460
      View Details
    • Contact for pricing
      2,907 SF

      Retail Space in Salem, OH

      Retail space available for lease in Salem, Ohio.
      119 Jennings Ave, Salem, OH 44460
      View Details
    • Contact for pricing
      295 SF

      Retail Space in Salem, OH

      Retail space available for lease in Salem, Ohio.
      653-657 E State St, Salem, OH 44460
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2870 E State St
    Salem, OH 44460
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2870 E State St, Salem, OH, 44460
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!