Fairless Shopping Center
Grocery Anchored | 10.00% CAP | $1,550,000
Marketing description
Introducing the Fairless Shopping Center, a prime investment opportunity located at 2222-2228 Fairless Dr, Lorain, OH 44055. This well-established retail property, meticulously managed by Colliers, offers a lucrative chance to own a prominent piece of Midwest real estate. Invest with confidence in this thriving shopping center, which has been thoughtfully curated to attract a diverse range of tenants. The premises is strategically positioned to maximize foot traffic and visibility, ensuring a high potential for returns on your investment. This exclusive Offering Memorandum presents key details of the property while safeguarding confidentiality and providing essential information for potential buyers. The property's appeal lies in its robust financial performance and strategic location in a vibrant commercial hub. Seize this opportunity to acquire an exceptional retail asset with immense potential for growth and income generation. Discover the unmatched value and potential of the Fairless Shopping Center in the heart of Lorain, OH.
Investment highlights
Corporate Save A Lot: Save A Lot’s corporate team assumed both the lease and operations of this location after the franchisee encountered challenges, demonstrating their long-term commitment to this site.
Grocery-Anchored: Grocery-anchored centers remain in high demand due to the recession-resistant nature of grocery retailers and their ability to generate consistent daily foot traffic to the center.
Stabilized: With the property nearly fully leased, it offers immediate cash flow and eliminates the need for new ownership to invest time or capital into leasing efforts.
Development Upside: The neighboring parcel is available for sale separately giving ownership control of the entire center and the opportunity for additional upside through development.
Below-Market Replaceable Rents: All rents are well below the market rent. If a tenant moves out, it will be easier for ownership to replace the tenant at a higher rate.
Low Price Per Square Foot: The asset is being offered at a fraction of replacement cost, giving buyers a low cost basis and insulation from the risks associated with new retail development.
High Population Density: The property is located in a densely populated trade area with 136,865 residents within a five-mile radius, reflecting steady population growth over the past decade.
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