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Reduced! Credit Strip w/ Big Upside| 7.5% CAP 11734-11740 South Ave 23,616 SF 100% Leased Retail Building North Lima, OH 44452 $2,300,000 ($97.39/SF) 7.76% Cap Rate



Investment Highlights
- Just Reduced!! Value-Add Opportunity: Significantly Below Market Rents on One Anchor Tenant in Approx. 50% of Center w/ No Renewal Options Remaining
- Successful Tenancy: All Long-Term Tenants Consistently Exercised Renewals & Addl. Potential Major Upside in Converting Modified Gross Leases to NNN
- Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report)
- 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $97/S.F.
- Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
- Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown
Executive Summary
• Just Reduced!! Value-Add Opportunity: Significantly Below Market Rents on One Anchor Tenant in Approximately 50% of Center with No Renewal Options Remaining
• 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $97/S.F.
• Additional Potential Major Upside Through Converting Modified Gross Leases Into NNN
• Successful Tenancy: All Long-Term Tenants Who Have Consistently Exercised Renewals
• Income Growth Driver: Additional Two LED Billboards Base Rent + Percentage Rent Clause, Located in Community with Ban on Any Future Billboard Competition
• Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown
• Tremendous Frontage and Visibility with Pylon Signage Sitting on Oversized 2.63 Acre Parcel
• Roof with Transferrable Warranty Until 2032
• Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
• Surrounded by Major Regional Employers Including Mercy Health, (3 Miles: 800+ employees, 224 beds at St. Elizabeth Boardman Campus) Youngstown State University, and Numerous Manufacturing, Logistics, Retail, and Healthcare Employers Throughout the Mahoning Valley such as Akron Children’s Boardman Campus (5 Miles)
• Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report) and Convenient Access to Youngstown State University (~12,000 Students & ~1,500 Staff/Faculty), Supporting Long-Term Residential Stability and Workforce Development
• Growing Suburban Trade Area with Close Proximity to Youngstown, Boardman, and the Pennsylvania Border, Providing Access to a Broad Regional Consumer Base
• Strategically Positioned Along North Lima’s Primary Commercial Corridor Near Interstate 76, Interstate 80, and Interstate 680, Providing Excellent Regional Accessibility Throughout Northeast Ohio and Western Pennsylvania
• 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $97/S.F.
• Additional Potential Major Upside Through Converting Modified Gross Leases Into NNN
• Successful Tenancy: All Long-Term Tenants Who Have Consistently Exercised Renewals
• Income Growth Driver: Additional Two LED Billboards Base Rent + Percentage Rent Clause, Located in Community with Ban on Any Future Billboard Competition
• Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown
• Tremendous Frontage and Visibility with Pylon Signage Sitting on Oversized 2.63 Acre Parcel
• Roof with Transferrable Warranty Until 2032
• Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
• Surrounded by Major Regional Employers Including Mercy Health, (3 Miles: 800+ employees, 224 beds at St. Elizabeth Boardman Campus) Youngstown State University, and Numerous Manufacturing, Logistics, Retail, and Healthcare Employers Throughout the Mahoning Valley such as Akron Children’s Boardman Campus (5 Miles)
• Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report) and Convenient Access to Youngstown State University (~12,000 Students & ~1,500 Staff/Faculty), Supporting Long-Term Residential Stability and Workforce Development
• Growing Suburban Trade Area with Close Proximity to Youngstown, Boardman, and the Pennsylvania Border, Providing Access to a Broad Regional Consumer Base
• Strategically Positioned Along North Lima’s Primary Commercial Corridor Near Interstate 76, Interstate 80, and Interstate 680, Providing Excellent Regional Accessibility Throughout Northeast Ohio and Western Pennsylvania
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
23,616 SF
Building Class
B
Year Built/Renovated
1980/2018
Price
$2,300,000
Price Per SF
$97.39
Cap Rate
7.76%
NOI
$178,517
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.21
Lot Size
2.63 AC
Zoning
G-C
Parking
125 Spaces (5.29 Spaces per 1,000 SF Leased)
Frontage
205’ on South Ave
Amenities
- Banking
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 05-004-0-055.00-0 | Improvements Assessment | $257,160 |
| Land Assessment | $54,130 | Total Assessment | $311,290 |
Property Taxes
Parcel Number
05-004-0-055.00-0
Land Assessment
$54,130
Improvements Assessment
$257,160
Total Assessment
$311,290
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Reduced! Credit Strip w/ Big Upside| 7.5% CAP | 11734-11740 South Ave

