Historical Retail Sale Listing - AUTOZONE / VERIZON WIRELESS / SNAP FITNESS

Retail For Sale

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AUTOZONE / VERIZON WIRELESS / SNAP FITNESS

2266 Locust St SW, Canal Fulton, OH 44614

N/A

11,200 SF | Retail

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Retail Property - Off Market

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

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)

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.

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

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