4335-4345 Lincoln Way E - Freestanding FOR SALE


Massillon, OH 44646
$1,500,000 USD
216-658-6120
4335-4345 Lincoln Way E, Massillon, OH for Sale
$1,500,000 USD
Freestanding - FOR SALE
1/12
null | 12.94% Cap Rate

4335-4345 Lincoln Way E
Massillon, OH 44646


HIGHLIGHTS

  • Long term tenants with a combined term in excess of 52 years between the 2 tenants with opportunity to extend, renegotiate, retenant the property
  • The current rents are significantly below market rents
  • Future buyer can take advantage of applying for reduction in real estate taxes, as the current appraised value is approx. $2,700,000
  • Financials and limited due diligence materials available upon request with a signed confidentiality agreement
  • Future redevelopment opportunity - ability to cash flow for the short term to prepare for a retail/industrial redevelopment in the future
  • The location benefits from its proximity to a strong retail trade area, industrial distribution and ease of access to the highway

OVERVIEW

CBRE, Inc is pleased to exclusively offer the opportunity to acquire this 71,200 square foot freestanding 2-tenant building situated on 6.23 AC located at 4335 Lincoln Way E, Massillon, Ohio 44646. The property is 100% occupied with Office Max, who has been a Tenant since 1995 occupying 44% of the property, and American Freight, who recently extended with term through November ‘26 and a 3 year option through November ‘29, opened in 2003 occupying 56% of the property. The Office Max lease expires on 5/31/26 with no renewal options, and the American Freight lease expires on 11/30/26, with one 3-year renewal option. The current gross annual rent is approximately $241,000. American Freight does not contribute towards reimbursement of real estate taxes or insurance. Office Max pays for their prorata share of real estate taxes and insurance. Both Office Max and American Freight pay for all snow plowing, landscaping, parking lot repairs and common area utilities based on their square footage. This is a terrific opportunity for a value add\ investor, or end user, looking to purchase a large 71,200 SF building on 6.23 Acres of land in an area with redevelopment potential.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$21 USD /SF

CAP RATE

12.94%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2-Tenant Future Redevelopment Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

6.23 AC

LAND SF

271,379 SF

ZONING

-

APN/PARCEL ID

04317848

ASK ABOUT THIS PROPERTY

Joseph KhouriCBRE, Inc.More Info
216-658-6120

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Joseph KhouriCBRE, Inc.More Info
216-658-6120

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