REIT Sale | Former Rite Aid with Drive-Thru 1496 N Shoop Ave 14,564 SF Retail Building Wauseon, OH 43567 $550,000 ($37.76/SF)



INVESTMENT HIGHLIGHTS
- ABSOLUTE $1 AUCTION | Former Rite Aid with Drive-Thru | 21K VPD | 2.09 Acres | Hard Corner | AUCTION MAY 19-21, 2025
- 21,099 VPD Traffic Counts at Signalized Hard Corner (13,597 VPD on N Shoop Ave and 7,502 VPD on Airport Hwy)
- Attractive Demographics with Population of ±11,839 and Average Household Income of ±$89,485 (5-Mile)
- 14,564 SF Freestanding Former Rite Aid with Drive-Thru on Expansive 2.09 AC Parcel; Built in 2005
- Neighboring Retail: Walmart ($1M+ Weekly Sales), McDonald’s, Ace Hardware, Wendy’s, Tractor Supply, Dairy Queen, Burger King, and more
- Zoned B-2, Highway Service District with a Variety of Commercial Uses
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing retail building located at 1496 N Shoop Avenue in Wauseon, Ohio (the “Property”). Formerly occupied by Rite Aid, the Property is being offered significantly below replacement cost—providing an excellent opportunity for owner/users or investors to acquire a highly visible, strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!
Constructed in 2005, the Property consists of a one-story, free-standing retail building totaling ±14,564 square feet, situated on a ±2.0891-acre parcel (±91,002 SF). The site includes a drive-thru, two curb cuts for ingress/egress, and 62 surface parking spaces. Positioned at a signalized hard corner, the Property boasts outstanding visibility with ±270 feet of frontage along N Shoop Avenue (US 108) and ±360 feet along US Highway 20A. Previously leased to Rite Aid on a triple net (NNN) basis, the Property presents a value-add opportunity through re-tenanting at prevailing market lease rates (CoStar estimated rents of $7–$9/SF NNN retail). Zoned “B2” Highway Service District, the site allows for a broad range of retail and commercial uses.
The Property is located in Wauseon, Ohio, the county seat of Fulton County and a key retail destination within the greater Toledo region. Strategically situated at the intersection of N Shoop Avenue and US 20A, the site lies within Wauseon’s primary commercial corridor—directly across from a high-performing Walmart Supercenter that generates over $1 million in weekly grocery sales and saw more than 47,000 visits in February 2025. Additional national retailers in the immediate area include Tractor Supply Co, ACE Hardware, GameStop, AutoZone, McDonald’s, Wendy’s, Burger King and Taco Bell, all of which enhance traffic and visibility. The Property is located just ±1.5 miles from the US 80/90 Wauseon interchange (Ohio Turnpike), with nearly 23,000 vehicles passing the area daily—further enhancing its accessibility and exposure. Additional demand drivers include the Fulton County Health Center, a 25-bed full-service hospital with a large outpatient medical campus, and the Wauseon Exempted Village School District, both of which support steady daytime traffic. The surrounding 10-mile trade area includes 29,000+ residents, supported by a stable regional economy rooted in manufacturing, healthcare, and logistics offering a strong foundation for future tenancy and long-term investment potential.
Constructed in 2005, the Property consists of a one-story, free-standing retail building totaling ±14,564 square feet, situated on a ±2.0891-acre parcel (±91,002 SF). The site includes a drive-thru, two curb cuts for ingress/egress, and 62 surface parking spaces. Positioned at a signalized hard corner, the Property boasts outstanding visibility with ±270 feet of frontage along N Shoop Avenue (US 108) and ±360 feet along US Highway 20A. Previously leased to Rite Aid on a triple net (NNN) basis, the Property presents a value-add opportunity through re-tenanting at prevailing market lease rates (CoStar estimated rents of $7–$9/SF NNN retail). Zoned “B2” Highway Service District, the site allows for a broad range of retail and commercial uses.
The Property is located in Wauseon, Ohio, the county seat of Fulton County and a key retail destination within the greater Toledo region. Strategically situated at the intersection of N Shoop Avenue and US 20A, the site lies within Wauseon’s primary commercial corridor—directly across from a high-performing Walmart Supercenter that generates over $1 million in weekly grocery sales and saw more than 47,000 visits in February 2025. Additional national retailers in the immediate area include Tractor Supply Co, ACE Hardware, GameStop, AutoZone, McDonald’s, Wendy’s, Burger King and Taco Bell, all of which enhance traffic and visibility. The Property is located just ±1.5 miles from the US 80/90 Wauseon interchange (Ohio Turnpike), with nearly 23,000 vehicles passing the area daily—further enhancing its accessibility and exposure. Additional demand drivers include the Fulton County Health Center, a 25-bed full-service hospital with a large outpatient medical campus, and the Wauseon Exempted Village School District, both of which support steady daytime traffic. The surrounding 10-mile trade area includes 29,000+ residents, supported by a stable regional economy rooted in manufacturing, healthcare, and logistics offering a strong foundation for future tenancy and long-term investment potential.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,564 SF
Building Class
B
Year Built
2005
Price
$550,000
Price Per SF
$37.76
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.09 AC
Zoning
B-2 - The property is zoned B-2 Highway Service District; City of Wauseon. That zoning allows for a very wide variety of uses.
Parking
62 Spaces (4.26 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS



PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $357,350 | |
Land Assessment | $146,830 | Total Assessment | $504,180 |