3112 N Ridge Rd E - Retail FOR SALE


Ashtabula, OH 44004
$2,880,000 USD
440-915-7902
3112 N Ridge Rd E, Ashtabula, OH for Sale
$2,880,000 USD
Retail - FOR SALE
1/7
null | 6.25% Cap Rate

3112 N Ridge Rd E
Ashtabula, OH 44004


HIGHLIGHTS

  • Corporately Backed, Single-Tenant Location with High-Profile, Publicly Traded Starbucks (NASDAQ: SBUX/S&P “BBB+”/Moody’s “Baa1”
  • Brand-New Lease with 10 Years of Term Remaining (No Early Termination Rights) Expected to Open December, 2025
  • Brand-New Construction on Oversized 1.38-Acre Parcel and Shadow Anchored by ALDI Grocery
  • Minimal Landlord Responsibilities as Tenant Handles all Daily Common Area Maintenance with 10% Rental Increases Every 5-Years
  • Excellent Frontage Along Ashtabula’s Main Roadway (US-20) | Over 21,600 VPD Surrounding the Starbucks & Directly Adjacent to Major Highway Route 11
  • Sits 1.5 Miles from Edgewood High School, Drawing Loads of Visitors to the Popular Coffee Shop

OVERVIEW

• Corporately Backed, Single-Tenant Location with High-Profile, Publicly-Traded Starbucks (NASDAQ: SBUX/S&P “BBB+”/Moody’s “Baa1”): Brand-New Lease with 10 Years of Term Remaining (No Early Termination Rights) Expected to Open December, 2025 • Brand-New Construction on Oversized 1.38-Acre Parcel and Shadow Anchored by ALDI Grocery • Minimal Landlord Responsibilities as Tenant Handles all Daily Common Area Maintenance with 10% Rental Increases Every 5-Years • Main Retail Corridor Surrounded by Loads of Other Complimentary Retailers: Aldi, Kentucky Fried Chicken, Home Depot, Kay Jewelers, Chipotle, Red Lobster, Harbor Freight, and directly across from Ashtabula Towne Square • Strong Tenancy: Annual Revenue Stream of Over $36 Billion Through 38,000 Locations Worldwide • Positioned with Excellent Frontage Along Ashtabula’s Main Roadway (US-20) with Over 21,600 VPD Surrounding the Starbucks and Directly Adjacent to Major Highway Route 11 and Just North of I-90, Which Travels Between Cleveland and Erie, PA • Latest Starbucks “Prototype Look” Including Drive-Thru Lane, Patio and Highly Visible Pylon Signage • Sits 1.5 Miles from Edgewood High School, Drawing Loads of Visitors to the Popular Coffee Shop • Major Employer: Ashtabula Regional Medical Center (ARMC) Serves the People of the County and the Surrounding Areas (2.5 Miles, 1,250 Employees) • Ideal Demographics with Average Household Incomes of Approx. $76,000 with Commuter Traffic and Strategic Location Equidistant from Both Major Cities, Cleveland and Erie • Strong Employment Base: Headquarters for Molded Fiber Glass Companies (Approx. 1,000 Employees), Plastpro (150+ Employees), Iten Defense, and Grand River Rubber and Plastics (Over 200 Employees), and Kennametal, Inc. • Major Draw from Kent State University at Ashtabula, Serving Approx. 1,700 Students and Staff of Over 100

FOR SALE DETAILS

PRICE

$2,880,000 USD

PRICE/SF

$1,309 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brand New 10 yr Starbucks 6.25% CAP | No Mgmt

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Convenience Store, Fast Food, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,113 SF

ZONING

-

APN/PARCEL ID

030130001800

ASK ABOUT THIS PROPERTY

Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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