This Retail Property is Off-Market.

1300 Whipple Ave., NW
Canton, OH 44708 ·

228,977 SF · Retail For Sale

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Meyers Lake Plaza

Price N/A Property Use Type Vacant/Owner-User
Gross Leasable Area 228,977 SF Year Built 1950
Property Type Retail Lot Size 29.26 AC
Property Sub-type Community Center
Listing ID: 15166614 Date Created: 06/04/2007 Last Updated: 07/22/2008

Description

Meyers Lake Plaza is a single story community center containing approximately 228,977 square feet of gross leasable area. The center is anchored by Value City, Big Lots, Save-A-Lot foods and Dollar General. Four of the seven outlots are included within this offering.

The property sits on 29.26 acres of land. The property currently has an NOI of roughly $575,000. The property is a perfect re-development candidate. There are 1,712 feet of frontage on Whipple Ave. which is a primary retail roadway.

The property can be purchase free and clear of any existing debt. At $7 million sale price, the sale would equate to $5.50 per square foot of land....which is a steal and well below market. You can not get hurt on this one. The property is 20% vacant and could represent a huge upside potential for an aggressive leasing and management firm.

Located in Canton, Ohio. Canton is most famous for being the home to the Pro Football hall of Fame.
According to the Ohio Department of Transportation, over 19,500 cars travel in front of Meyers Lake each day.

Highlights

  • UPSIDE - UPSDIE -UPSIDE
  • Good anchors to lease off of
  • Huge lot with residential potential
  • Never professionally managed or leased

Research

1300 Whipple Ave., NW, Canton, OH 44708 (Stark County)

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