11734-11740 South Ave - Retail FOR SALE


North Lima, OH 44452
$2,340,000 USD
440-915-7902
11734-11740 South Ave, North Lima, OH for Sale
$2,340,000 USD
Retail - FOR SALE
1/15
null | 7.5% Cap Rate

11734-11740 South Ave
North Lima, OH 44452


HIGHLIGHTS

  • Value-Add Opportunity: Significantly Below Market Rents on One Anchor Tenant in Approximately 50% of Center with No Renewal Options Remaining
  • 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $99/S.F.
  • Successful Tenancy: All Long-Term Tenants Consistently Exercised Renewals & Addl. Potential Major Upside in Converting Modified Gross Leases to NNN
  • Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
  • Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report)
  • Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown

OVERVIEW

• Value-Add Opportunity: Significantly Below Market Rents on One Anchor Tenant in Approximately 50% of Center with No Renewal Options Remaining • 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $99/S.F. • Additional Potential Major Upside Through Converting Modified Gross Leases Into NNN • Successful Tenancy: All Long-Term Tenants Who Have Consistently Exercised Renewals • Income Growth Driver: Additional Two LED Billboards Base Rent + Percentage Rent Clause, Located in Community with Ban on Any Future Billboard Competition • Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown • Tremendous Frontage and Visibility with Pylon Signage Sitting on Oversized 2.63 Acre Parcel • Roof with Transferrable Warranty Until 2032 • Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius • Surrounded by Major Regional Employers Including Mercy Health, (3 Miles: 800+ employees, 224 beds at St. Elizabeth Boardman Campus) Youngstown State University, and Numerous Manufacturing, Logistics, Retail, and Healthcare Employers Throughout the Mahoning Valley such as Akron Children’s Boardman Campus (5 Miles) • Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report) and Convenient Access to Youngstown State University (~12,000 Students & ~1,500 Staff/Faculty), Supporting Long-Term Residential Stability and Workforce Development • Growing Suburban Trade Area with Close Proximity to Youngstown, Boardman, and the Pennsylvania Border, Providing Access to a Broad Regional Consumer Base • Strategically Positioned Along North Lima’s Primary Commercial Corridor Near Interstate 76, Interstate 80, and Interstate 680, Providing Excellent Regional Accessibility Throughout Northeast Ohio and Western Pennsylvania

FOR SALE DETAILS

PRICE

$2,340,000 USD

PRICE/SF

$99 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Credit Anchored Ctr. w/ Big Upside | 7.5% CAP

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Restaurant, Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

2.63 AC

LAND SF

114,563 SF

ZONING

G-C

APN/PARCEL ID

05-004-0-055.00-0

ASK ABOUT THIS PROPERTY

Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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

Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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