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    3315 N Ridge Rd Ashtabula, OH 44004
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    3315 N Ridge Rd, Ashtabula, OH 44004

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    • Retail properties & Spaces
    • 51,267 SF
    • 61.87 lot acres
    For Lease
    $24,520 SF/Yr
    View Listing →
    Ashtabula Retail Space Available For Lease
    $24,520 SF/Yr

    Ashtabula Retail Space Available

    Commercial space for lease in high-traffic Ashtabula location.

    3315 N Ridge Road, Ashtabula, OH 44004
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    Property ID
    US66-2080957
    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
    $2,645,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store
    • La Casa de Frida Mexican Restaurant / Restaurant
    • Jenifer Tabin, CNM, ND / Physician
    • Erin Siegel, CNP / Pediatrician / Medical Clinic
    • Janette Fleissner, CNP / Pediatrician / Physician

    Property Details for 3315 N Ridge Rd

    Year built
    1992
    Lot size
    61.87 lot acres
    Property type
    Retail properties & Spaces
    APN
    03-052-00-004-00
    APU
    30520000400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 23, 2023 $2,500,000 Sure Fire Group LLC Ashtabula Mall Realty Holding LLC Limited Warranty Deed —
    May 20, 2020 $10,250,000 Ashtabula Mall Realty Holding Sure Fire Group LLC Correction Deed · related —
    Feb 11, 2020 $10,250,000 Ashtabula Mall Realty Holding Sure Fire Group LLC Grant Deed $6.2M · Other Institutional Lenders
    Jan 25, 2018 — Sure Fire Group LLC — Grant Deed · related $5.8M · Andover Bk
    Oct 16, 2014 $6,147,500 Sure Fire Group LLC Msci 2007-iq16 Retail 3315 LLC Grant Deed $1.1M · Richard R Ryel
    Apr 2, 2013 — Msci 2007-iq16 Retail 3315 LLC Us Bank NA 2007-iq16 Grant Deed · related —
    Oct 22, 2012 $27,040,800 Stanley Cap I 2007-iq16 Morgan Mckinley INC Grant Deed · related —
    Oct 2, 2007 $4,030 Cabot Ashtabula 23 LLC Cabot Ashtabula 30 LLC Grant Deed —
    Aug 31, 2007 $44,387,755 Cabot Ashtabula 1 LLC Ashtabula Mall Co Limited Warranty Deed $40.3M · Royal Bank Of Canada

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,360,000
      ML approach
      $2,730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,123,000
      Market price range: $938k - $3.12M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,980,000
      Current use
      RESTAURANT
      $3,510,000
      Change: +77% Conversion: Easy
      OFFICE BUILDING
      $3,125,000
      Change: +58% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,885,000
      Change: +46% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,670,000
      Change: +35% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,215,000
      Change: +12% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,640,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashtabula
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.7554
    Latitude
    41.8827
    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
    $203,019
    $566,370
    $650,200
    $1,216,570
    -
    $1,618,200
    $1,857,700
    $3,475,900

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      4509 Main Ave

      DEPARTMENT STORE (MULTI-STORY)
      4509 Main Ave, Ashtabula, OH 44004-6924
      View Details
    • Value Estimation by Request
      0.29 Acres

      Park Ave

      DEPARTMENT STORE (MULTI-STORY)
      Park Ave, Ashtabula, OH 44004
      View Details
    • Value Estimation by Request
      0.09 Acres

      4519 Main Ave

      DEPARTMENT STORE (MULTI-STORY)
      4519 Main Ave, Ashtabula, OH 44004-6924
      View Details
    • Value Estimation
      $515,000
      120,129 SF

      4509 Main Ave

      DEPARTMENT STORE (MULTI-STORY)
      4509 Main Ave, Ashtabula, OH 44004-6924
      View Details
    • Value Estimation by Request

      2515 Rdg State Rd 84 Rd

      Retail properties & Spaces
      2515 Rdg State Rd 84 Rd, Ashtabula, OH 44004
      View Details
    • Value Estimation
      $2,470,000
      86,400 SF

      3201 Rdg E Rd

      DEPARTMENT STORE
      3201 Rdg E Rd, Ashtabula, OH 44004-4307
      View Details

    Similar Nearby for Sale

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      Remodeled Restaurant with Liquor License

      Turnkey restaurant with updates, equipment, and liquor licenses.
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      Ashtabula Credit Union For Sale

      1,982 SF credit union with corporate guarantee.
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      11,325 SF

      Retail Space Available For Sale

      Retail space with 11,325 SqFt available for sale.
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    Similar Nearby for Lease

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      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
    • $24,520
      95,963 SF

      Ashtabula Retail Space Available

      Commercial space for lease in high-traffic Ashtabula location.
      3315 N Ridge Rd, Ashtabula, OH 44004
      View Details
    • 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
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      Ashtabula Retail Out-Parcel Opportunity

      Retail storefront opportunity at a high-traffic Ashtabula intersection.
      1144 W Prospect Rd, Ashtabula, OH 44004
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    • $12 SF/Yr
      17,380 SF

      Ashtabula Retail and Warehouse Space

      Retail and warehouse space available for lease in Ashtabula, OH.
      1626 E Prospect Rd, Ashtabula, OH 44004
      View Details
    • Contact for pricing

      Commercial Buildings on Major Artery

      Two commercial buildings on 1.10 acres with utilities.
      833 Lake Ave, Ashtabula, OH 44004
      View Details

    Property Visit Statistics

    • Visits by month
      21.3k
    • Visitors by month
      14.1k
    • Avg Time on site
      10 min
    View Listing
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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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    3315 N Ridge Rd, Ashtabula, OH, 44004
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