4967 Portage St NW - Convenience Store FOR SALE


Canton, OH 44720
$5,536,000 USD
949-903-3399
4967 Portage St NW, Canton, OH for Sale
$5,536,000 USD
Convenience Store - FOR SALE
1/6
null | 5.36% Cap Rate

4967 Portage St NW
Canton, OH 44720


HIGHLIGHTS

  • Corporate Speedway (7-Eleven, Inc.) Gas Station & Convenience Store
  • 7-Eleven Acquired 3,800 Speedway Locations from Marathon Petroleum Group in May of 2021
  • Zero Landlord Responsibilities – Ideal for Investor Seeking Passive Cash Flows
  • 2,360 SF Convenience Store with 5 MFD’s & Tunnel Car Wash on 1 Acre Parcel
  • Within 1 Mile from Kent State University at Stark – Student Enrollment Exceeding 3,500
  • Largest C-Store Brand Worldwide – 86,000 Locations Across 19 Countries

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer investors a great opportunity to purchase a well-established Speedway (C-Store, Service Station & Car Wash) in North Canton, OH. In May of 2021 7-Eleven Purchased 3,800 Speedway locations further securing 7-Eleven’s Position as the largest operator, franchisor and licensor of convenience stores worldwide. Speedway has successfully operated at this location since 1996, and 7-Eleven recently signed a new 15-year lease demonstrating the strength of this store and their commitment to this site. With no landlord responsibilities, five 5-year option periods, 10% rent increases and an investment grade credit rating, this asset is ideal for an investor seeking passive income for years to come. The 2,360 SF building, tunnel car wash and 10 fueling stations are strategically positioned on a 1-acre outparcel to BJ’s Wholesale Club, adjacent to The Home Depot and opposite Sam’s Club. Located on the hard corner signalized intersection of Portage Street NW and Frank Avenue NW (over 52,532 VPD), the parcel benefits from multiple points of ingress/egress and great visibility. The Strip, a 787,000 SF retail and entertainment attraction, is within a half mile of the subject property and is anchored by Lowe’s Home Improvement, Walmart Supercenter, Giant Eagle Supermarket and Cinemark. Kent State University at Stark is less than a mile to the south of the subject property and has a student enrollment exceeding 3,500. Nearby retailers include McDonald’s, Starbucks, Dunkin’, Panera Bread, Taco Bell, Wendy’s, Outback Steakhouse, BJ’s Restaurant & Brewhouse, Marshalls, Michaels, Best Buy, Walgreens and more. This is an excellent opportunity to acquire an absolute triple net leased gas station & C-store with a new 15-year lease, 25 years in option periods, accelerated depreciation, 10% rent increases and zero landlord responsibilities, providing years of worry-free cash flows the most passive investors.

FOR SALE DETAILS

PRICE

$5,536,000 USD

PRICE/SF

$1,514 USD /SF

CAP RATE

5.36%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Speedway

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

L1

APN/PARCEL ID

10014027

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

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