Listed by Signature Associates
$865,000
702 E Main Street
Details
APN 31-059656-00.000: 31-059664-00.000: 27-052364-00.000
Property Type Retail
Sub Type Commercial
Square Footage 14,016
Cap Rate 8.26%
NOI $73,928
Year Built 1945
Year Renovated 2002
Stories 1
Acreage 0.910
Zoning Commercial
Parking Spaces 75 spaces
Parking Per SqFt 5.35
Retail | 8.26% CAP | 14,016 SqFt
Investment highlights
- This double net investment property with an NOI of $73,927.60 is offered at 8.5% cap rate.
- The property is located in the village of Delta, Ohio. The tenant, Community Markets, has operated in this location since 1990. The seller purchased this investment in 1990. Community Markets operates 49 similar grocery stores in small towns and villages across the region. Spartan Nash recently purchases Community Markets. Spartan Nash operates 188 supermarkets in 11 states and is also a food wholesaler.
- The seller is responsible for the structure, roof (new in 2010) and the property insurance ($3,185 per year). In addition to the rent the tenant pays percentage rent of 1% over $3 Million in revenue capped at $4 Million. The maximum percentage rent of $10,000 has been paid for the past 25 years.
- The current lease expires February 28, 2029, and the tenant has no option to renew. The tenant may be willing to add renewal options to their lease. The tenant currently is paying $5,726.05 per month plus percentage rent annually.
Listing Contacts
Listed by Signature Associates
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$73,927.60
$6,160.63/mo
Valuation Metrics
0
DSCR
8.55%
Cap Rate
8.55%
ROI
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