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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8248 Market St Warren, OH 44484-2337

    • Strip malls
    • 27,916 SF
    • 6.44 lot acres
    OFF-MARKET
    Last Sale
    Jan 25, 2024
    $41,050
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1682407
    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.

    Current Use by Public Records

    • Buy the Beach / Tanning Salon

    Property Details for 8248 Market St

    Year built
    1969
    Lot size
    6.44 lot acres
    Property size
    27,916 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    28-242700
    APU
    28242700

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,712,000
      Market price range: $880k - $1.71M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,290,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,455,000
      Change: +90% Conversion: Difficult
      RESTAURANT
      $2,420,000
      Change: +87% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,330,000
      Change: +80% Conversion: Difficult
      RETAIL STORES
      $2,280,000
      Change: +76% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Trumbull
    State
    Ohio
    Longitude
    -80.7419
    Latitude
    41.2376
    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
    $78,761
    $307,830
    $887,250
    $1,195,080
    -
    $879,500
    $2,535,000
    $3,414,500

    Comparable in this City

    • Value Estimation
      $505,000
      8,382 SF

      2658 Niles Cortland Rd Se Ste, Unit 420

      SHOPPING CENTER, STRIP CENTER • 8,382 SF
      2658 Niles Cortland Rd Se Ste, Warren, OH 44484-3880
      View Details
    • Value Estimation by Request
      6,300 SF

      6425 Mines SE Rd

      SHOPPING CENTER, STRIP CENTER • 6,300 SF
      6425 Mines SE Rd, Warren, OH 44484
      View Details
    • Value Estimation by Request
      25,050 SF

      1923 Rdg SE Ave

      SHOPPING CENTER, STRIP CENTER • 25,050 SF
      1923 Rdg SE Ave, Warren, OH 44484-2822
      View Details
    • Value Estimation
      $1,390,000
      30,850 SF

      8720 Market St

      SHOPPING CENTER, STRIP CENTER • 30,850 SF
      8720 Market St, Warren, OH 44484-2364
      View Details
    • Value Estimation
      $585,000
      7,617 SF

      8024 Market St

      SHOPPING CENTER, STRIP CENTER • 7,617 SF
      8024 Market St, Warren, OH 44484-2264
      View Details
    • Value Estimation by Request
      8,190 SF

      1121 Niles Cortland SE Rd

      SHOPPING CENTER, STRIP CENTER • 8,190 SF
      1121 Niles Cortland SE Rd, Warren, OH 44484-2542
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,780 SF

      Versatile Retail Space For Sale

      Retail space with high ceilings and open floor plan.
      1717 Youngstown Rd SE, Warren, OH 44484
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    • $119,000
      2,530 SF

      Mixed-Use Building with Parking

      Mixed-use building with renovated bar/restaurant, apartment, and parking.
      2006 Youngstown Rd SE, Warren, OH 44484
      View Details
    • Contact for pricing
      11,201 SF

      Redevelopment Opportunity in Warren, Ohio

      Vacant former Rite Aid for redevelopment or owner-user.
      4205 E Market St, Warren, OH 44484
      View Details
    • Contact for pricing
      8.98 Acres

      Prime Warren Commercial Land

      8.98 Acres, Excellent Location
      907 North Rd, Warren, OH 44484
      View Details
    • $364,000

      Brick Ranch Villa with Upgrades

      Two-bedroom brick ranch villa with desirable features and outdoor space.
      153 Royal Troon Dr, Warren, OH 44484
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    • $229,900
      2,060 SF

      All-Brick Warren Duplex Residence

      Turn-key duplex in a desirable neighborhood with flexible living spaces.
      676 Central Parkway Ave SE, Warren, OH 44484
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    Similar Nearby for Lease

    • $12 SF/Yr
      800 SF

      Versatile Space in Howland District

      Office, medical, and retail spaces available for rent.
      8720 E Market St, Warren, OH 44484
      View Details
    • $12 SF/Yr
      11,400 SF

      Warren Retail Space - Prime Location

      11,400 SF Single-Tenant Retail Building
      2840 Youngstown Rd, Warren, OH 44484
      View Details
    • $10 SF/Yr
      12,900 SF

      Niles Retail Space - 12,900 SF

      Prime Niles retail space, 12,900 sq ft, highway commercial zoning.
      5555 Youngstown Warren Rd, Niles, OH 44484
      View Details
    • Contact for pricing
      1,046 SF

      Warren, OH Meijer Retail Space

      1,046 SF In-Store Retail
      2100 Niles Cortland Rd, Warren, OH 44484
      View Details
    • $10 SF/Yr
      2,280 SF

      Retail Space in Hilda Plaza

      Inline retail space with high power and great traffic.
      3918 Youngstown Rd Se, Warren, OH 44484
      View Details
    • $950,000
      7,559 SF

      Freestanding Building Near Eastwood Mall

      Freestanding retail building with drive-in door and ample parking.
      3454 Youngstown Rd SE, Warren, OH 44484
      View Details
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    8248 Market St
    Warren, OH 44484-2337
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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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