8287 - 8295 Windham St - Freestanding FOR SALE


Garrettsville, OH 44231
$4,370,000 USD
440-915-7902
8287 - 8295 Windham St, Garrettsville, OH for Sale
$4,370,000 USD
Freestanding - FOR SALE
1/10
null | 8% Cap Rate

8287 - 8295 Windham St
Garrettsville, OH 44231


HIGHLIGHTS

  • Grocery Anchored Neighborhood Center: Attractive 8.00% CAP Rate and Low Price Point of $97/S.F. (Below Market Sales Comparable)
  • Solid Operating History: Grocer has Operated at this Location for 30 Years & Many Original Tenants That Have Consistently Exercised Renewals
  • Strong Anchor Commitments: IGA Grocery, Family Dollar/Dollar Tree and Pride Auto Wash Making Up Almost 70% of the Center Leased to 2030 and Beyond
  • Family Dollar/Dollar Tree Expanded and Self-Funded Part of the TI in 2022
  • Brand-New AutoZone (NAP) Built Adjacent to IGA, Drawing Complimentary Tenant Foot Traffic
  • Future Upside: Replaceable Below Market Rental Rates, Possible Conversion of Gross to NNN Leases and Future Developable Land of Approx. 2 Acres Facing

OVERVIEW

The Village of Garrettsville is a great place to live, work or visit. Located only 45 minutes away from most metropolitan areas in northeastern Ohio, Garrettsville offers residents and visitors rural charm and city conveniences. Garrettsville is a village in Portage County, part of the Akron Metropolitan Statistical Area (approximately 30 miles). Furthermore, the area is a short distance from the Youngstown-Warren-Boardman Metropolitan Statistical Area (18 miles) offering additional employment and conveniences. Akron is the fifth-largest city in the State of Ohio and is the seat of Summit County. The Akron Metropolitan Statistical Area (MSA) covers Summit and Portage counties. The city is within a 500-mile radius of 57% of the U.S. population, 55% of all U.S. manufacturing plants, and 60% of the U.S. effective buying power. Additionally, Akron is home to other modes of transportation, including Akron-Canton Regional Airport, serving nearly 2 million passengers a year.

FOR SALE DETAILS

PRICE

$4,370,000 USD

PRICE/SF

$263 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grocery Anchored Center(30 Yr History)|8% CAP

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Restaurant, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

150

LAND DETAILS

LAND ACRES

6.81 AC

LAND SF

296,644 SF

ZONING

-

APN/PARCEL ID

19-003-00-00-025-002

ASK ABOUT THIS PROPERTY

Daniel CooperCooper Commercial Investment GroupMore Info
440-915-7902

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Daniel CooperCooper Commercial Investment GroupMore Info
440-915-7902

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