REIT Sale | Former Rite Aid with Drive-Thru | 23K VPD | Signalized Hard Corner

Highlights:

• 11,233 SF Freestanding Former Rite Aid with Drive-Thru on Expansive 1.22 AC Parcel
• 23,197 VPD Traffic Counts at Signalized Hard Corner (18,829 VPD on Mahoning Ave NW and 4,368 VPD on Champion Ave)
• Neighboring Retail: Dunkin', McDonald's, Save A Lot, Taco Bell, 7-Eleven, Ace Hardware, Supercuts, DQ, and more
• Attractive Demographics with Population of ±89,282 and Average Household Income of ±$76,194 (5-Mile)
• Zoned C, Commercial District with a Variety of Commercial Uses
• Absolute $1 Auction – NO RESERVE!

Description:

RI Marketplace Online Auction June 23-25, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2464/reit-sale-former-rite-aid-with-drive-thru-23k-vpd-signalized-hard-corner?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2464

Marcus & Millichap, CBRE and RI Marketplace are pleased to present the opportunity to acquire a vacant, free-standing retail building located at 5001 Mahoning Avenue NW in Warren, Trumbull County, Ohio 44483 (the “Property”). Formerly occupied by Rite Aid, the Property is being offered significantly below replacement cost—providing an excellent opportunity for owner/users or investors to acquire a highly visible, strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!

Constructed in 1997, the Property consists of a one-story, free-standing retail building totaling ±11,233 square feet, situated on a ±1.223-acre parcel (±53,277 SF). The site includes a drive-thru, three curb cuts for ingress/egress, and 50 surface parking spaces. Positioned at a signalized hard corner, the Property boasts outstanding visibility with ±196 feet of frontage along Mahoning Avenue (OH-45) and ±295 feet along Champion Ave. Previously leased to Rite Aid on NNN-basis, the Property presents a value-add opportunity through re-tenanting at prevailing market lease rates (CoStar estimated rents of $9-11/SF NNN retail). Zoned “C” Commercial District, the site allows for a broad range of retail and commercial uses.

The Property is located in Warren, Ohio, the county seat of Trumbull County and a key commercial center within the Youngstown–Warren–Boardman metropolitan area. Strategically positioned along Mahoning Avenue NW, a primary east-west thoroughfare with ±18,829 VPD, the site benefits from significant visibility and accessibility. The immediate vicinity features a mix of national and local retailers, including Dollar General, Save A Lot, Family Dollar, Taco Bell, 7-Eleven, and Champion Ace Hardware, contributing to consistent daily traffic. The Property’s location offers convenient access to major transportation routes, just 1-mi from OH-82 (over 31k VPD), with U.S. Route 422 and SR-11 also situated within a few miles, along with I-80 facilitating connectivity to the broader region. The surrounding community includes educational institutions like Warren G. Harding High School and healthcare facilities such as Trumbull Regional Medical Center, supporting steady daytime population and economic activity. This combination of retail presence, service providers, and infrastructure positions the Property favorably for future tenancy and long-term investment potential. The surrounding 5-mile trade area is home to over 89,000 residents, supported by a diversified regional economy anchored by healthcare, manufacturing, logistics, and education, making the Property well-positioned for future re-tenanting and long-term investment upside.

Thomas Seaman
Auctioneer
License: 2007000016

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