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Meyers Lake Plaza
1300 Whipple Ave., NW, Canton, OH 44708
228,977 SF | Retail
Retail Property - Off Market
- Gross Leasable Area:
- 228,977 SF
- Property Type:
- Property Sub-type:
- Community Center
- Property Use Type:
- Year Built:
- Lot Size:
- 29.26 AC
- Listing ID
- Last Updated
- over 1 year ago
- UPSIDE - UPSDIE -UPSIDE
- Good anchors to lease off of
- Huge lot with residential potential
- Never professionally managed or leased
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.
Map of 1300 Whipple Ave., NW, Canton, OH 44708 (Stark County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO