This property is Off-Market

2266 Locust St SW
Canal Fulton, OH 44614 ·

11,200 SF · Retail For Sale

N/A

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AUTOZONE / VERIZON WIRELESS / SNAP FITNESS

Price N/A Occupancy 100%
Building Size 11,200 SF No. Stories 1
Property Type Retail Tenancy Multiple
Property Sub-type Anchor Year Built 2005
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 1.01 AC
Commission Split 2.5% APN / Parcel ID 9503160
Cap Rate 9.03%
Listing ID: 16737875 Date Created: 06/25/2010 Last Updated: 05/15/2012

Description

AUTOZONE, INC leases 5,400 square feet for 20 years which commenced on December 2005 until November 2025 (14 years still remaining). The current annual rent of $77,000 increases by 10% every 5 years. The first increase to $77,000 started November 2010. The lease is net with the tenants responsible for all property taxes, common area maintenance and insurance. There are three 5-year renewal options at 10% increases each option period.

VERIZON WIRELESS recently signed a new three (3) year NNN lease for 1,350 SF at $18,225 P/YR NNN. The lease commenced on June 1, 2011.

SNAP FITNESS recently signed a new five (5) year NNN lease for 3,360 SF at $32,940 P/YR NNN. Rent escalations throughout lease.

FOR MORE INFORMATION, there is an Offering Memorandum available for you to download. Please click on the PDF. Please call if you have any questions about this property.

Area retail tenants include RiteAid, Pizza Hut, Huntington Bank, PNC Bank, Advanced Auto, Domino' s Pizza, Marathon Bell Stores, Dairy Queen, Burger King, McDonald' s and Giant Eagle Grocery Store.

The historic town of Canal Fulton is nestled in the northwest corner of Stark County among the Ohio and Erie canals and the Tuscarawas river. Canal Fulton offers the advantages of living in a close knit community of historic beauty with the convenience of being a short drive of bigger metropolitan areas of Stark, Summit, and Cuyahoga counties.
Canal Fulton's Historic District, which is listed in the National Register of Historical Places, has over eighty sites including buildings and homes.

Located 11 miles west from the Akron Canton Regional Airport, 8 miles west from North Canton, OH and 14 miles south of Akron, OH.

Highlights

  • AutoZone is the anchor tenant.
  • Fortune 500 Tenant
  • 14 Years Lease Remaining
  • 2 Brand New Leases: VERIZON WIRELESS and SNAP FITNESS
  • 2005 Construction
  • 93% Occupied (only 790 SF remaining)

Research

2266 Locust St SW, Canal Fulton, OH 44614 (Stark County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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