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31395270
31395269

2350 Lincoln Way E, Massillon, OH 44646

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
SW
OH 2005013197, WA SAL.2005013197
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Cleveland
$6,590,000
67 days on market
Updated 67 days ago

Massillon Commons | 8.5% CAP | $58/SF | 87% Occupied

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 112,738
Units 18
Cap Rate 8.5%
NOI $560,184
Occupancy 87%
Tenancy Multi
Price per SqFt $58
Year Built 1986
Buildings 1
Stories 1
Acreage 11.610
Investment Type Stabilized

Retail | 8.50% CAP | 112,738 SqFt

Investment highlights

• 112,738 SF, 87% Occupied Community Center in High-Traffic, Infill Massillon OH Location (400K+ Person MSA)

• Located in Highly Trafficked Retail Node: Shadowed by Home Depot; Neighbored by Target & Giant Eagle (#1 Marketshare Grocer)

• Upside via 12.7% Vacant GLA (6 Units, 4 of 6 Units <2,200 SF) Provides +/- $193K of NOI Growth Potential

• Long-Term Re-Lease Upside via Dunham’s Sports (45% Of GLA; 50,503 SF) Leased @ $6.25/SF Gross

• Across from Brand-New Starbucks & Panda Express Development; Neighbored by Brand-New Chick- Fil-A, Chipotle, 7-Brew, & ALDI

• 8.50% In-Place CAP Rate; Positive Leverage with Current Debt Options: 9%+ Projected Going-In Cash/Cash Return

• Located on Highly Trafficked Lincoln Way E (25,150 VPD); Primary East/West Corridor from Downtown Massillon to Downtown Canton

• Strong Medical And Service Tenancy Including Fresenius Kidney Care, Stark Medical, And Great Expressions Dental

• Diverse Roster With Long Tenant Tenure And Staggered Lease Expirations Through 2031

• Infill/Mature Middle-Income Trade Area With 113,673 Residents & AHHI of $76,969 in 5-Miles

• Low Tax Rate of 1.55%; Supportive of Efficient/Low NNN Charges, and Higher Base Rent Opportunities

• Part Of The Canton–Massillon MSA (400K+ Population) & Broader Cleveland–Akron– Canton CSA (3.5M Population)

Listing Contacts

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
SW
OH 2005013197, WA SAL.2005013197
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Cleveland

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$560,184.00
$46,682.00/mo

Valuation Metrics

0
DSCR
8.5%
Cap Rate
8.5%
ROI

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