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.