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34352593

16665 Grand Army of the Republic Highway, Montville, OH 44064 For Sale

CS
FL FL SL3407088
Marcus & Millichap
Listed by Marcus & Millichap
$1,227,182
5 days on market
Updated 5 days ago

16665 Grand Army of the Republic Highway

Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 9,100
Cap Rate 7.7%
NOI $94,493
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 10/31/2035
Remaining Term 9.3
Rent Bumps Yes
Lease Options Five, Five Year Options with 10% Rental Increases
Price per SqFt $135
Year Built 2020
Acreage 3.130
Tenant Credit Corporate Guarantee
Lease Commencement 11/01/2020
Ground Lease No

About This Property for Sale

Investment highlights

Absolute NNN Lease with 9.3 Years Remaining on the Initial 15 Year Term

9,100 Square Foot Built-to-Suit Prototype Store – 2020 Construction

Five, Five Year Options with 10% Rental Increases Remaining

Attractive Price Point for Longer Term Absolute NNN Product

Building is on a Large 3.13 Acre Parcel Allowing Potential for Expansion of Store if Tenant Ever Desired a Larger Footprint

Store is Located Near a Four-Way Signalized Intersection of U.S. Route 6 and State Route 528

Competition Void: Only Dollar General Servicing the Montville Market

Store Sells Beer and Wine and is One of the Primary Grocery Sources in the Immediate Area

Montville is Characterized by an Above Average Median Household Income in the State of Ohio and a Poverty Rate Notably Lower Than the National Average

Positioned Directly on U.S. Route 6 Which Connects Cleveland to the Pennsylvania State Line

Site is Less Than One Hour from Downtown Cleveland and Less Than 16 Miles from Lake Erie Shoreline

Store is Near Established Local Businesses, Churches and Residential Homes on the Primary Corridor in Town

S&P “BBB” Credit Rating – Corporately Guaranteed Lease

Listing Contacts

CS
FL FL SL3407088
Marcus & Millichap
Listed by Marcus & Millichap

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$94,493.00
$7,874.42/mo

Valuation Metrics

0
DSCR
7.7%
Cap Rate
7.7%
ROI

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Additional Information

Name
Michael Glass
License
BRK.2007005898
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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