8287 - 8295 Windham St - Freestanding FOR SALE


Garrettsville, OH 44231
$4,290,000 USD
440-915-7902
8287 - 8295 Windham St, Garrettsville, OH for Sale
$4,290,000 USD
Freestanding - FOR SALE
1/10
null | 8.15% Cap Rate

8287 - 8295 Windham St
Garrettsville, OH 44231


HIGHLIGHTS

  • Grocery Anchored Neighborhood Center: Attractive 8.15% CAP Rate and Low Price Point of $95/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

OVERVIEW

• Highly Visible Along Garrettsville’s Main Roadway Route 82 (Windham Street Within the Village): Multiple Points of Access Producing a Constant Flurry of Activity Due to High-Traffic Generating Retailers • Strong Growing Community with High Average Household Incomes of $99,500+ in the Immediate Trade Area (5-Mile Radius) with Expected Continued Growth as Evidenced by Multiple Nearby Housing Developments Under Construction (The Reserve at Eagle Creek with 118 Brand-New Homes) • Limited Area Competition: Center Supports Garrettsville Community, Along with the Surrounding Communities of Windham, Nelson, Mantua and Hiram (Next Major Full-Service Grocer is Over 12 Miles Away!) • Just 1 Mile from The James A. Garfield Local School District Operating (Elementary, Middle and High School): Over 1,500 Students and Consistently Earning an 'Excellent' State Rating and 4 Miles to Hiram College Boasting 1,090 Students and Nearly 100 Staff Members • Significant Employment Base Being Positioned Between Akron and Youngstown: University of Akron (Approx. 25,865 Students & 2,500 Employees), the Biomedical Corridor Featuring World-Renowned Hospitals and Nearly 17,000 Total Employees, First Energy (2,500 Employees), Along with Kent State (Approx. 39,365 Students & 9,445 Employees), Trumbull Memorial, St. Joseph Warren Hospital and Youngstown State University (Approx. 15,000 Students & 1,130 Employees)

FOR SALE DETAILS

PRICE

$4,290,000 USD

PRICE/SF

$95 USD /SF

CAP RATE

8.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grocery Anchored Ctr(30 Yr History)|8.15% 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

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.