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    3323 Parkman Rd Warren, OH 44481
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    Property profile & analytics

    3323 Parkman Rd, Warren, OH 44481

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    • Strip malls
    • 6,344 SF
    • 1.10 lot acres
    For Sale
    $400,000
    View Listing →
    Warren Office Plaza: High-Traffic Location For Sale
    $400,000
    13,300 SF

    Warren Office Plaza: High-Traffic Location

    13,300 SF Office Building, 8 Units, 1.1 Acres

    3323 Parkman Rd, Warren, OH 44481
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    Property ID
    US66-2564041
    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

    • Elegant ink by Ashley / Medical Clinic / Skin Care Clinic
    • Elegantinkbyashley.com / Medical Clinic / Skin Care Clinic
    • Hydroponics / Department Store
    • Studio 422 Salon / Hair Salon
    • Good As New / Electronics & Wireless Store

    Property Details for 3323 Parkman Rd

    Year built
    1983
    Lot size
    1.10 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    40-002705
    APU
    40002705

    Description

    This exceptional investment opportunity presents a 13,300 square foot, concrete office building situated on a 1.1-acre lot in Warren, Ohio's high-traffic area. The property boasts eight individual units, ideal for a variety of businesses, offering flexibility and potential for diverse income streams. A substantial parking lot ensures ample space for tenants and customers, enhancing the convenience and appeal of the location. The building's solid construction promises durability and low maintenance costs. The significant 1.1-acre lot adjacent to the main building presents a unique opportunity for expansion. This could involve increasing the existing retail space, adding complementary businesses to create a synergistic environment, or developing other income-generating possibilities. The property's prime location within a high-traffic area guarantees excellent visibility and accessibility, maximizing potential for tenant occupancy and revenue generation. This is a rare chance to acquire a well-established property with significant growth potential in a thriving commercial district. The combination of existing income-producing units and the expansive adjacent lot makes this an attractive investment for both seasoned and emerging investors seeking a strong return on investment. This property offers a compelling blend of immediate income and long-term development possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Trumbull
    State
    Ohio
    Longitude
    -80.8664
    Latitude
    41.2578
    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
    $5,303
    $18,060
    $81,620
    $99,680
    -
    $51,600
    $233,200
    $284,800

    Comparable in this City

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      $1,290,000
      10,598 SF

      6920 Tod SW Ave

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      0.20 Acres

      370 High NE St

      PARKING GARAGE, PARKING STRUCTURE
      370 High NE St, Warren, OH 44481-1222
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    • Value Estimation by Request
      3.99 Acres

      4858 Parkman NW Rd

      PARKING GARAGE, PARKING STRUCTURE
      4858 Parkman NW Rd, Warren, OH 44481-9138
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      0.07 Acres

      805 Market St

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    • Value Estimation by Request
      0.13 Acres

      554 Market St

      PARKING GARAGE, PARKING STRUCTURE
      554 Market St, Warren, OH 44481-1210
      View Details

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      Warren Office Plaza: High-Traffic Location

      13,300 SF Office Building, 8 Units, 1.1 Acres
      3323 Parkman Rd, Warren, OH 44481
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      27,076 SF

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    Similar Nearby for Lease

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    View Listing
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    Warren, OH 44481
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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.

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