2955 State StSalem, OH 44460

Property Details for 2955 State St

Year built

2003

Lot size

1.34 AC

Property size (Sq ft)

16,038 SF

Property type

Retail properties

Property subtype

Super regional malls

APN

56-017-0-003.03-0

APU

560170003030

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $4,483,590

  6.5%

  $4,138,698

  7%

  $3,843,076

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,780,490

  Geo Method

  $3,780,490

• Alternative Use

  Use

  Valuation

  Residential

  $3,491,146

  Hospitality

  $3,197,872

  Educational

  $2,660,592

  Medical

  $2,752,093

  Retail

  $4,138,698

Location Insight

City

Salem

County

Mahoning

State

Ohio

Latitude

40.9015

Longitude

-80.8169

CBSA code

49660

CBSA name

YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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