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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
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
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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