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