100 Hadley Rd - Storefront FOR SALE


Greenville, PA 16125
$1,600,000 USD
614-754-1008
100 Hadley Rd, Greenville, PA for Sale
$1,600,000 USD
Storefront - FOR SALE
1/4
null | 11.94% Cap Rate

100 Hadley Rd
Greenville, PA 16125


HIGHLIGHTS

  • Priced significantly below replacement cost at $16 per SF
  • Opportunity to lease up existing 4,000 SF of vacancy potentially adding $46,000 of NOI.
  • As leases roll or tenants leave, this presents a new owner the opportunity to convert gross leases to NNN, which would add roughly $70,822
  • Lisa’s General Store occupies 40% of the GLA with their lease expiring in 2027
  • Nearby national retails on Main St / Hadley Road includes Walmart, Aldi, McDonald’s, Tractor Supply, AutoZone, among many others
  • Positioned along Greenville’s main retail corridor, just 5 minutes east of downtown Greenville, PA.

OVERVIEW

Greenville Plaza is a 99,700-square-foot shopping center strategically located on Hadley Road, Greenville’s primary retail corridor with direct access to downtown and proximity to Thiel College. The property offers immediate in-place cash flow and a clear path to significant NOI growth, supported by both market fundamentals and asset-level value creation strategies. Positioned directly east of Walmart and Aldi, two of the market’s highest-traffic drivers for essential goods, the center benefits from strong regional draw and limited retail competition. The next closest Walmart and Aldi locations are 13.7 to 20 miles away, expanding Greenville Plaza’s effective trade area and reinforcing tenant visibility and consumer traffic. The site offers central access to key population centers, with drive times of 1.5 hours to Cleveland and Pittsburgh, 45 minutes to Youngstown, and one hour to Erie. The center is anchored by Busy Beaver, a 19-unit regional home improvement chain occupying 43.3% of GLA. Busy Beaver has maintained tenancy since 2018 and has invested approximately $489,000 in HVAC, roof, and interior upgrades, signaling a long-term commitment to the location. Additional tenants include a durable mix of local and service based operators such as Bear’s Furniture Outlet, a long-standing Asian restaurant, a dog grooming service, and a flea market that occupies over 40% of the center’s GLA. At a basis of $16 per square foot, the asset trades well below replacement cost, mitigating downside risk. Under the proposed financing structure, Greenville Plaza generates a 22.32% year-one cash-on-cash return and a 26.90% total return—offering an attractive yield profile from day one. All tenants are currently on gross leases with below-market rents, presenting immediate value-creation opportunities. Upside can be realized through three targeted strategies: (1) lease-up of the remaining 4,000 square feet at a market rate of $11.50/SF NNN, generating $46,000 in incremental revenue; (2) conversion of gross leases to NNN structures upon renewal, capturing an estimated $80,822 in recoverable expenses; and (3) repositioning or replacing the flea market tenancy, which currently yields just $0.24/SF net. Adjusting the Flea Market space to a conservative $4/SF would add $123,525 in potential rent upside from where rents stand today. In aggregate, stabilization of existing vacant suites, restructuring leases without options in place, and repositioning Lisa’s General Store has the potential to unlock $180,125 in rent upside. This positions Greenville Plaza as a compelling investment with a strong yield profile for long-term value creation.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$16 USD /SF

CAP RATE

11.94%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Greenville Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

793

LAND DETAILS

LAND ACRES

10.6 AC

LAND SF

461,736 SF

ZONING

-

APN/PARCEL ID

09-044-002-002

ASK ABOUT THIS PROPERTY

Alex Van KrevelPassov Real Estate GroupMore Info
614-754-1008

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Alex Van KrevelPassov Real Estate GroupMore Info
614-754-1008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.