Technical
Financial
Distress signals
Property profile

2955 State St Salem, OH 44460

OFF-MARKET
Super regional malls
Property ID
US66-6086463
16,038 SF 1.34 ac lot Built 2003
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Salem Market Place, located at 2955 E State St, Salem, OH 44460, presents a prime retail investment opportunity. This single-story, 16,252 square foot neighborhood center, built in 2003, sits on 1.34 acres of land and boasts a highly desirable location. The property currently features three suites, with 3,803 square feet of vacant space available for lease. Individual suites range from a minimum of 980 square feet to a maximum contiguous space of 1,536 square feet, offering flexibility for various retail businesses. The center benefits significantly from its strategic positioning, shadow-anchored by a Walmart Supercenter and directly across from a Home Depot. This high-traffic location, drawing an estimated 3.3 million combined visitors annually, ensures exceptional visibility and foot traffic for tenants. The property's convenient access and strong surrounding demographics make it an ideal location for businesses seeking to establish or expand their presence in the Salem market. This is a rare opportunity to secure retail space in a thriving commercial area with significant potential for growth and return on investment. The property offers a unique blend of established success and untapped potential, making it an attractive proposition for discerning investors and retailers alike.

Property profile

Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 2003
Total area 16,038 SF
Lot 1.34 ac (58,588 SF)
APN 56-017-0-003.03-0
UPID US66-6086463

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
  • (Bike/Boat/Book/etc) Store Alternative Medicine Practice
  • Physician
  • Arcade & Gaming Center Electronics & Wireless Store
  • Physician
  • Physician

Location

2955 State St Salem, OH 44460-9307
Salem metro Census 813400 YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.60M
CAP Approach CAP
$2.61M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.61M

Owner & transaction history

since 2023
Last sale
$2.1M
6 recorded transactions
2023
$2.1M
2022
Price N/A
2018
Price N/A
2013
$600,000
2011
Price N/A
2007
$3.0M

Zoning & alternative use

Top alternative use upside
Medical building $1.8M +208.8%
Commercial (general) $1.7M +194.0%
Office building $1.5M +145.2%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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