Discount Drug Mart Plaza | Grocery-Anchored| 7.5% CAP
Retail | 7.50% CAP | 32,294 SqFt
Investment highlights
• 100% Occupied, 32,294-SF Neighborhood Strip Center | Six-Tenant Roster Anchored by Discount Drug Mart
• Offered as Part of a Two-Property Portfolio with DDM Plaza Upper Sandusky | Available as a Package, or Separately
• 4.34 Years WALT With Zero Turnover Since 2010 | All Tenants In-Place for 15+ Years With Exceptional Operating History
• Discount Drug Mart Recently Executed a 5-Year Extension Through December 2030 | Demonstrates Strong Long-Term Commitment to Site
• DDM Occupies 68% of GLA and Contributes 59% of Gross Income | In-Place Since 2000 With a Proven Pattern of Multiple Renewals
• Low DDM Rent of $8.25/SF NNN ($11.64/SF All-In) | Center Features Replaceable Rents Averaging $9.57/SF NNN ($13.62/SF All-In)
• Mostly NNN Leases with 88% Reimbursement of Tax/Ins/CAM | Low Operating Expenses of $3.51/SF
• Five Internet-Resistant Small-Shop Tenants Including Ukrainian Village Food & Deli, Palm Beach Tan, Spa & Nails, Great Clips, and Godmother’s Pizza
• 4 of 5 Small Shops Operating at the Site Since 1995–2005 | Strong Renewal History With 20–30 Years of Tenure
• Significant Recent Capital Improvements | Majority of Parking Lot Newly Paved and Striped
• High-Traffic Location Along York Road With 21,276 VPD | Just South of Pearl Road Intersection Carrying 39,759 VPD
• Prime Retail Visibility With Shallow Setback, Pylon Signage, Two Curb Cuts, and ±480 Feet of Frontage Along York Road
• Dense, Mature Infill Trade Area | 16,942 Residents Within 1 Mile and 245,147 Residents Within 5 Miles
• Located in Parma Heights, a Dense and Established Cleveland West-Side Suburb | Cleveland–Akron–Canton CSA Population of 3.6 Million
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