2842 State StSalem, OH 44460

Property Details for 2842 State St

Year built

2009

Lot size

0.62 AC

Property size (Sq ft)

6,104 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

56-017-0-003.04-0

APU

560170003040

Description

This exceptional 0.74-acre pad-ready site in Salem, Ohio, presents a unique opportunity for retail development. Located at 2842 E State St, 44460, this C-2 zoned property boasts a highly visible location with direct access to East State Street and a traffic signal from State Route 14, ensuring excellent visibility and accessibility. The site offers a maximum buildable area of 5,000 square feet and is equipped with all necessary utilities, including a complete stormwater management system. The property features a striped and curbed parking lot with lighting, and a prepared gravel building pad. A reciprocal easement agreement with the adjacent Advance Auto Parts allows shared access, but restricts the sale of auto parts on this site. Ohio Department of Transportation reports a daily traffic count of 9,357 vehicles, indicating high potential for customer traffic. This turnkey site is ideal for an owner-user seeking a convenient and well-prepared location to establish their business. The asking price for this exceptional opportunity is $200,000. The property is owned by WXZ Retail Group/Salem.

• CAP approach

  CAP return

  Valuation

  6%

  $1,706,437

  6.5%

  $1,575,172

  7%

  $1,462,660

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,438,840

  Geo Method

  $1,438,840

• Alternative Use

  Use

  Valuation

  Residential

  $1,328,717

  Hospitality

  $1,217,097

  Educational

  $1,012,611

  Medical

  $1,047,436

  Retail

  $1,575,172

Location Insight

City

Salem

County

Mahoning

State

Ohio

Latitude

40.9016

Longitude

-80.8195

CBSA code

49660

CBSA name

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

Property Tax & Assessments

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