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    3120 Market Place Dr Ashtabula, OH 44004

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    3120 Market Place Dr Ashtabula, OH 44004

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    • Strip malls
    • 18,468 SF
    • 1.64 lot acres
    For Lease
    $1,675,000
    View Listing →
    Retail Space in Home Depot Plaza For Lease
    $1,675,000

    Retail Space in Home Depot Plaza

    Versatile retail space in a thriving Ashtabula commercial hub.

    3120 Market Place Drive, Ashtabula, OH 44004
    View Listing
    Property ID
    US66-1280995
    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

    • Berkshire Hathaway HomeServices Professional Realty / Real Estate Agency
    • Darius Williams Berkshire Hathaway Home Services Professional Realty / Real Estate Agency
    • US Army Recruiting Office Ashtabula / Military Recruiting Office / Government Office
    • Sal Jackson, Berkshire Hathaway HomeServices Professional Realty / Real Estate Agency
    • Elite Employment Center / Employment Agency

    Property Details for 3120 Market Place Dr

    Year built
    2005
    Construction
    CONCRETE BLOCKS
    Lot size
    1.64 lot acres
    Property size
    18,468 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    03-056-00-003-00
    APU
    30560000300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,680,000
      OFFICE BUILDING
      $1,495,000
      COMMERCIAL (GENERAL)
      $1,375,000
      RESTAURANT
      $1,290,000
      INDUSTRIAL (GENERAL)
      $1,140,000
      APARTMENT HOUSE (5+ UNITS)
      $1,100,000
      MEDICAL BUILDING
      $1,065,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashtabula
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.7455
    Latitude
    41.881
    CBSA code
    11780
    CBSA name
    ASHTABULA, 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
    $29,821
    $99,960
    $284,310
    $384,270
    -
    $285,600
    $812,300
    $1,097,900

    Comparable in this City

    • Value Estimation
      $4,500,000
      51,416 SF

      2825 Rdg E Rd

      SHOPPING CENTER, STRIP CENTER • 51,416 SF
      2825 Rdg E Rd, Ashtabula, OH 44004-4134
      View Details
    • Value Estimation
      $1,485,000
      16,556 SF

      2900 Rdg Rd E Usr, Unit 20

      SHOPPING CENTER, STRIP CENTER • 16,556 SF
      2900 Rdg Rd E Usr, Ashtabula, OH 44004-4302
      View Details
    • Value Estimation
      $2,090,000
      4,680 SF

      2911 Rdg E Rd

      SHOPPING CENTER, STRIP CENTER • 4,680 SF
      2911 Rdg E Rd, Ashtabula, OH 44004-4301
      View Details
    • Value Estimation
      $815,000
      8,700 SF

      3915 Jefferson Rd, Unit 3923

      SHOPPING CENTER, STRIP CENTER • 8,700 SF
      3915 Jefferson Rd, Ashtabula, OH 44004-9117
      View Details
    • Value Estimation
      $2,370,000
      25,630 SF

      2102 Metcalf Dr, Unit 1

      SHOPPING CENTER, STRIP CENTER • 25,630 SF
      2102 Metcalf Dr, Ashtabula, OH 44004-3388
      View Details
    • Value Estimation
      $1,000,000
      10,890 SF

      2604 Prospect Rd

      SHOPPING CENTER, STRIP CENTER • 10,890 SF
      2604 Prospect Rd, Ashtabula, OH 44004-6334
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,820 SF

      Anchored Retail Plaza For Sale

      Retail plaza with national tenants in Ashtabula, Ohio.
      2900-2916 N Ridge Rd E, Ashtabula, OH 44004
      View Details
    • $89,000
      6,771 SF

      Prime Ashtabula Retail Redevelopment

      0.42-acre corner lot, two buildings
      4306 West Ave, Ashtabula, OH 44004
      View Details
    • Contact for pricing
      6,894 SF

      Remodeled Restaurant with Liquor License

      Turnkey restaurant with updates, equipment, and liquor licenses.
      5205 Lake Rd W, Ashtabula, OH 44004
      View Details
    • Contact for pricing
      1,982 SF

      Ashtabula Credit Union For Sale

      1,982 SF credit union with corporate guarantee.
      4220 Main Ave, Ashtabula, OH 44004
      View Details
    • Contact for pricing
      11,325 SF

      Retail Space Available For Sale

      Retail space with 11,325 SqFt available for sale.
      1115 W Prospect Rd, Ashtabula, OH 44004
      View Details
    • $320,000
      0.33 Acres

      Ashtabula Commercial Building For Sale

      5,412 SF commercial building suitable for retail or vehicle-related ventures.
      4714 Main Ave, Ashtabula, OH 44004
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,183 SF

      Retail Space in Home Depot Plaza

      Retail space for lease in Ashtabula County, Ohio.
      3200 Market Place Dr, Ashtabula, OH 44004
      View Details
    • Contact for pricing
      1,900 SF

      Retail Spaces Available for Lease

      Multiple retail units available for lease in a shopping center.
      2400-2530 W Prospect Rd, Ashtabula, OH 44004
      View Details
    • Contact for pricing

      Retail Space in Home Depot Plaza

      Versatile retail space in a thriving Ashtabula commercial hub.
      3120 Market Place Dr, Ashtabula, OH 44004
      View Details
    • Contact for pricing

      Neighborhood Strip Center For Lease

      New construction strip center planned for 2025, great location.
      3637 N Ridge Rd E, Ashtabula, OH 44004
      View Details
    • Contact for pricing

      Prime Retail Location in Ashtabula

      Retail space in a vibrant Ashtabula commercial area.
      1818 W Prospect Rd, Ashtabula, OH 44004
      View Details
    • Contact for pricing
      3,350 SF

      Retail/Medical Space in Plaza East

      Turn-key retail and medical spaces available in busy Ashtabula.
      2825-2893 N Ridge Rd, Ashtabula, OH 44004
      View Details
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    Ashtabula, OH 44004
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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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