Former Rite Aid For Sale/Lease

Highlights:

• Hospital-Adjacent Retail Location | Directly Next To Salem Regional Medical Center, Creating Built-In Daily Traffic And Strong Medical-User Demand
• Rare 2.12-Acre Infill Parcel | Large, Well-Configured Site In City’s Primary Retail Corridor | Long-Term Redevelopment Flexibility
• Signalized, Multi-Street Frontage | Exposure On E. State Street (14,747+ VPD), Southeast Blvd(4,000+ VPD), And E. Pershing
• Street (3,170+ VPD) For Superior Visibility And Access | Two Pylon Signs Visible From All Cross-Streets
• Drive-Thru Infrastructure In Place | Existing Drive-Thru Lane Supports QSR, Coffee, Pharmacy, Or Financial Institution Reuse
• High-Barrier Retail Node | Surrounded By National Retailers Including Starbucks, Chipotle, Giant Eagle, Circle K, Take 5 Oil Change, Walmart, Aldi, McDonald's, Taco Bell, Home Depot, Walgreens, O'Reilly Auto Parts, Bob Evans And Many More
• Strong Demographics For Market Size | Average Household Incomes Exceeding $83,833 Within 1 Mile
• Flexible C-2 Zoning | Allows For Retail, Medical, Restaurant, And Service-Oriented Uses
• Frontage On E. State St, Southeast Blvd, & E. Pershing St | Located 70-Miles To Cleveland And 70-Miles To Pittsburgh

Description:

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Salem is the largest city in Columbiana County and serves as a key economic hub in northeast Ohio, positioned within easy access of major regional markets including Youngstown, Canton, Cleveland, and Pittsburgh. The city has demonstrated meaningful momentum in economic development, rising significantly in national rankings and drawing attention from public and private sector leaders alike. Most recently, Salem was ranked 12th among the Top 100 Micropolitan Areas by Site Selection Magazine — a substantial jump that reflects active business expansions, capital investment, and the collaborative efforts of local economic development partners.

The Salem economy is anchored by a diversified mix of manufacturing, healthcare, retail, and service industries, with manufacturing historically representing a significant share of local employment. Major regional employers including distribution, production, and food production firms contribute to the city’s industrial base and daytime population inflow, supporting local commerce and ancillary services.

Salem’s development environment is supported by a strong local partnership between the city, the Salem Area Chamber of Commerce, the Sustainable Opportunity Development (SOD) Center, and other civic stakeholders focused on business attraction, retention, and community enhancement. Recent upticks in building permits and downtown commercial activity indicate renewed investment and confidence in the market, while Salem’s ongoing five-year economic development planning process is designed to guide strategic growth through 2030.

Looking ahead, Salem’s strategic location within a multi-state trade area, combined with increased attention from site selectors and continued capital investment, positions the market for future upside in both commercial and residential sectors. As statewide development initiatives and targeted local efforts continue, Salem’s economic foundation and upward trajectory are expected to support long-term demand and broaden investor interest.

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