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

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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