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19920206
22018060

2200 June Parkway, Zanesville, OH 43701

DC
OH 009003618
Cooper Commercial Investment Group
BH
OH SAL.2006007277
Cooper Commercial Investment Group
Listed by Cooper Commercial Investment Group
$6,790,000
638 days on market
Updated 31 days ago

Riesbeck’s Food Market

Details
Property Type Retail
Sub Type Grocery Store, Pharmacy/Drug
Square Footage 54,308
Cap Rate 8%
NOI $543,000
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 09/29/2033
Lease Options Option to Extend: (4) 5-Yr.
Price per SqFt $125
Year Built 2000/2001
Acreage 7.470
Lease Commencement 09/30/2013

Absolute NNN Grocery Corp. Backed by Largest Co-Op Grocer in US|A Top Performing Placer.ai Location

Marketing description

LOCATION OVERVIEW:

Zanesville, the county seat of Muskingum County is a charming, historic community swarming with fascinating attractions and treasures. From unique shopping and excellent dining to insightful manufacturing tours and the friendly spirit of middle-America. Zanesville offers the hospitality of the heartland and a destination unlike any other! A three-way bridge called the "Y-Bridge" spans the confluence of the Licking and the Muskingum Rivers. Listed on the National Register of Historic Places, it is one of few bridges of its type in the United States. Located just 52 miles east of Columbus, the suburb is thriving on its own, but benefits from all of the attributes of the state capital.

The City of Zanesville is filled with rich history, vibrant present growth, and a bright future. Much of this can be seen through the residents of Zanesville and Muskingum County’s diverse workforce. The sectors of health care, education, manufacturing, and retail sales are the largest employers. Zanesville is home to the largest regional employer with Genesis Hospital located in the city, part of the Genesis Healthcare System with over 4,000 system-wide employees, including 300+ physicians. The 260-bed hospital supports Zanesville and the surrounding communities and employs 2,800. The manufacturing sector includes Halliburton, one of the world's largest providers of products and services for the ever-evolving needs of the energy industry. The facility boasts over 560 employees. Bimbo Bakery (450 employees) and Owens-Illinois, Inc. (400+ employees) are also large manufacturing companies in the region, while major distribution centers for Dollar General (approximately 950 employees) and AutoZone (650 employees) have made the region home. Additionally, the county government located in Zanesville has 940 employees. An inbound call center for Spectrum employs 560+ people and Shelly & Sands also employs 500. Nestle Purina, Fanatics Inc., Ridge Corporation, Cleveland Cliffs Inc., Avon, Inc., and Kellogg’s also have a notable presence in the county.

Located in nearby New Concord, Muskingum University has 2,600 students and 450 employees on campus, while Zane State College just 4.8 miles north of the featured grocer has 3,444 students and over 240 employees. Zanesville is also home to Ohio University Zanesville Campus with 1,000 students and 120 employees. With the number of students and employees in and around Zanesville, the grocery location is sure to be a success and is poised to be a great long-term asset for an investor.

Although Zanesville is a destination point for employers, the area also boasts unbeatable attractions. The Conference & Welcome Center offers two versatile and spacious exhibit/banquet halls, an executive boardroom, a flexible conference/training room, and a 45-seat presentation theatre. Additionally, Zanesville Museum of Art, Y Bridge Cultural Arts Center, Zanesville Pottery, The Alpacas of Spring Acres and man, many more are highly visited attractions drawing people to the Zanesville area daily.

Being part of the 2.51 million population of the Columbus MSA, the area benefits from the unbelievable population density, major employers and large city attractions. The State of Ohio, The Ohio State University, and the United States Government account for an estimated 80,000 to 90,000 employees. Then add in the Columbus City Schools, the City of Columbus, and Franklin County, the estimated number of employees swells to well over 120,000 in the immediate region.

Investment highlights

  • Single -Tenant Grocery Investment Opportunity: Riesbeck ’s Food Market with Full Corporate Guarantee by Associated Wholesale Grocers (AWG), the Largest Cooperative Food Wholesaler to Supermarkets and Grocery Stores in the United States

  • AWG: Over $12.3 Billion in Annual Sales with Over 3,400 Locations

  • Absolute NNN with ZERO Responsibilities: Tenant Responsible for Roof and Structure with Build -to -Suit Location (2001) on Over -Sized 7.47 -Acre Parcel

  • Attractive 8.00% CAP: 9 Years of Term Remaining with Strong Commitment and Success Having 33 Years of Committed Tenancy

  • One of Top Locations for Sales in Entire Chain According to Placer.ai Report

  • Positive Sale Growth Trend with Year-Over-Year Increase: 30% Sales Growth Since 2019 and 6% Year -Over -Year Sales Growth

  • Highly Visible with Excellent Frontage and High Traffic (Approx. 35,000 VPD) at Signalized Corner Location Directly In Front of the Store at Main Intersection

  • Riesbeck ’s Food Market ’s Chain Operating for Over 98 Years with 16 Regional Locations

  • Growing City with Grocery Necessity: Ideal Demographics with Average Household Incomes of Approximately $73,000 Within a 5 -Mile Radius

  • Advantageous Location 52 Miles East of Columbus (Currently the 14th Most Populous City in the United States): Part of the Columbus -CSA with Over 2.51M People and One of the Fastest Growing MSAs in the Country

  • Surrounded by Rooftops, Other Complimentary Users and Retailers (BMV, Zane Plaza Shopping Center, Sheetz, Huntington Bank & More) Restaurants and Schools

  • Largest Regional Employer Located in Zanesville: Genesis Hospital, Part of the Genesis Healthcare System (4,000+ System -Wide Employees) with 260 -Beds, 2,800 On -Site Employees Supports Zanesville and the Surrounding Communities

  • Direct Vicinity of Major Employers: Halliburton (560 Employees), Bimbo Bakery (450 Employees), Owens -Illinois, Inc. (400+ Employees), Dollar General Distribution Center (Approx. 950 Employees), AutoZone Distribution Center (650 Employees), Muskingum County Government (Zanesville County Seat = 940 Employees), Spectrum Call Center (560+ Employees), Shelly & Sands (500 Employees), Along with Strong Presence from Nestle Purina, Fanatics Inc., Ridge Corporation, Cleveland Cliffs Inc., Avon, Inc., and Kellogg’s

  • Zanesville Named “Second Most Charming Small Town in USA” and #4 in North America

Listing Contacts

DC
OH 009003618
Cooper Commercial Investment Group
BH
OH SAL.2006007277
Cooper Commercial Investment Group
Listed by Cooper Commercial Investment Group

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Loan Amount
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Annual Cash Flow
$543,000.00
$45,250.00/mo

Valuation Metrics

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DSCR
8%
Cap Rate
8%
ROI

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