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Grocery Anchored Ctr(30 Yr History)|8.15% CAP 8287 - 8295 Windham St 45,083 sq ft 100% Let Retail Property Garrettsville, OH 44231 £3,178,590 (£70.51/sq ft) 8.15% Net Initial Yield
INVESTMENT HIGHLIGHTS
- JUST REDUCED!: Grocery Anchored Neighborhood Center: Attractive 8.15% CAP Rate and Low Price Point of $95/S.F. (Below Market Sales Comparable).
- 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.
- Brand-New AutoZone (NAP) Built Adjacent to IGA, Drawing Complimentary Tenant Foot Traffic.
- Solid Operating History: Grocer has Operated at this Location for 30 Years & Many Original Tenants That Have Consistently Exercised Renewals .
- Family Dollar/Dollar Tree Expanded and Self-Funded Part of the TI in 2022.
- Future Upside: Replaceable Below Market Rental Rates, Possible Conversion of Gross to NNN Leases and Future Developable Land of Approx. 2 Acres.
EXECUTIVE SUMMARY
JUST REDUCED!
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)
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)
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per sq ft | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Property Size
45,083 sq ft
Costar Property Class
C
Year Built/Renovated
1960/2009
Price
£3,178,590
Price per sq ft
£70.51
Yield
8.15%
NOI
£259,029
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.15
Total Plot Size
6.81 ac
Use Class
C - Commercial
Parking
150 Spaces (3.33 Spaces per 1,000 sq ft Leased)
Frontage
270 ft on Windham St
AMENITIES
- Bus Route
- Pylon Sign
- Signage
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- IGA
- -
-
99,999 SF
- -
-
Jan 0000
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| IGA | - | 99,999 SF | - | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19-003-00-00-025-002 | Improvements Assessment | £144,704 (2024) |
| Land Assessment | £38,640 (2024) | Total Assessment | £183,343 (2024) |
PROPERTY TAXES
Parcel Number
19-003-00-00-025-002
Land Assessment
£38,640 (2024)
Improvements Assessment
£144,704 (2024)
Total Assessment
£183,343 (2024)
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Grocery Anchored Ctr(30 Yr History)|8.15% CAP | 8287 - 8295 Windham St
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