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10.9% Cash on Cash Return!
5863 Darrow Road, Hudson, OH 44236
Last Verified 12/2/2009
Listing ID 16279271
Highlights
Long Term Lease: Thirteen years of guaranteed term remaining with seven 5-year options- Tenant exercised option early
- Demographics: Avg. HH Incomes of $111,885 and 28,005 people within a surrounding three-mile radius of the subject
- Below-Market Rent: $10.50 per square foot
- Rent Increases: Features a $.50 psf rent increase in year 2012 and CPI-based rent increases in each of the option periods
- Outstanding Existing Financing: 10.9% cash-on-cash return
Description
This fee simple asset offers investors stable long-term cash-flows, strong demographics, rent increases, strong traffic counts, and below-market financing. Discount Drug Mart is a leading discount pharmacy chain operator throughout Ohio.
Located two miles south of Interstate 80, the subject is located on Darrow Road (30,877 average vehicles daily), the major north-south thoroughfare of Hudson. The property anchors the neighborhood retail trade zone which features new free-standing structures by CVS, Donatos, and Huntington Bank directly to the south. To the east is dense single-family housing. The population within a three-mile radius grew 25% during the 1990' s and features average household incomes of $111,885.
Map of 5863 Darrow Road, Hudson, OH 44236 (Summit County)
Created 6/15/2009
Additional Information for 5863 Darrow Road, Hudson, OH 44236
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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
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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-P