This Retail Property is Off-Market.

5566 State Road
Parma, OH 44134 ·

14,659 SF · Retail For Sale

N/A

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Family Dollar Plaza|100% Occ|Early Tenant Renewals

Price N/A Cap Rate 9.03%
Gross Leasable Area 14,659 SF Occupancy 100%
Property Type Retail Tenancy Multiple
Property Sub-type Strip Center Year Built 1992
Property Use Type Net Lease Investment with 5 years left on lease Lot Size 1.12 AC
Listing ID: 16870521 Date Created: 10/13/2010 Last Updated: 08/01/2011

Description

The State Hill Plaza, located in Parma, Ohio, is a 100% occupied plaza that boasts a strong mix of national and local tenants, including: Family Dollar, $1.99 Video, Parma's Finest Hair, and Breads & Beyond Bakery. Anchor tenant, Family Dollar, is publicly traded (NYSE: FDO) Fortune 500 Company whose growth has remained constant and reports record earnings at the end of the 3rd Quarter, 2010. The company shows a net increase to $74 million ($0.56 per share), compared to $60.1 million ($0.43 per share) in the year ago period. Family Dollar conveniently places their stores in thriving areas, which allows for them to remain the fastest growing discount retailer.

Located less than seven miles from Downtown Cleveland, Ohio, the property is ideally situated in a market that is demographically supportive of the tenants' product offerings and price points. The featured property is located just south of a mojor interstate (I-480), a loop highway that connects I-71, I-77, I-76 and the Ohio Turnpike (I-80) with suburban Cleveland and provides access to Cleveland Hopkins International Airport.

Highlights

  • Historically and Currently 100% Occupied with Long-Term Anchor Tenant (through 2016)
  • Publicly Traded Family Dollar Stores, Inc. (NYSE: FDO) with Corporately Guaranteed Lease
  • Family Dollar Stores, Inc. Reported Record Earnings for 3rd Quarter 2010 - Net Income Increase to $74 Million
  • Directly Across from Large, Busy United States Post Office Drawing Customers to the Plaza
  • Tenants Recently Renewed Lease Early Showing Their Commitment and Presence to the Plaza
  • Alongside High Traffic Roadway in Parma (State Road) - High Traffic Counts (57,800+ VPD)

Research

5566 State Road, Parma, OH 44134 (Cuyahoga County)

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

Parma Market Trends - Asking price index trends, sale price trends, asking rent trends

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