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Rittman Shopping Center | Majority Occupied 200-260 N Main St 62,610 SF 77% Leased Retail Building Online Auction Sale Rittman, OH 44270
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- Rittman Shopping Center is a neighborhood retail center with a well-established, long-term presence and national and local tenant mix.
- Anchored by grocer Rittman IGA, the center is majority occupied, presenting an income-generating retail asset with value-add potential.
- Ample surface parking on-site, multiple points of ingress/egress, and surrounding retail synergy in the commercial corridor.
- Located at a signalized, four-way intersection, exposing the prominent pylon signage to be seen by more than 9,000 vehicles per day.
- Tenant mix includes Burger King, Dollar Tree, Family Dollar, Pizza Hut, Rittman IGA, Panda restaurant, and a local smoke shop.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the Rittman Shopping Center, located at 200-260 N Main Street, to the market as an income-generating investment opportunity with significant upside.
Spanning nearly 70,000 square feet on a 6-acre parcel, the Rittman Shopping Center was originally constructed in the 1960s, with subsequent renovations in the early 2000s. The primary strip center is anchored by Rittman IGA, a regional grocery store, and there are two on-site outparcel sections. More than 300 surface parking spaces are available for employee and customer use. The center’s large pylon and building signage are highly visible at the signalized intersection of N Main Street and East and West Sunset Drive. Some of the tenants have been occupants for more than a decade. Currently, four vacancies remain, presenting an opportunity for an investor to drive leasing momentum and achieve aggressive leasing rates, ultimately bringing the center to full occupancy and increasing NOI.
Rittman Shopping Center is ideally located among the N Main Street commercial corridor, benefiting from immediate retail synergy. Neighboring national retailers include Goodwill, Subway, Dollar General, as well as many local bars and dining establishments. The Main Street Rittman location is approximately 20 miles west of Downtown Akron and conveniently located near Interstates 71, 76, and 277.
According to CoStar analytics, 122,810 locals reside within the subject’s 10-mile radius, boasting a robust consumer spending power of more than $1.6 billion and an average household income of just under $95,000. Of the realm’s consumer spending sectors, food & alcohol, as well as household operations and equipment, are among the three largest spending categories, aligning with the subject’s tenant mix.
Spanning nearly 70,000 square feet on a 6-acre parcel, the Rittman Shopping Center was originally constructed in the 1960s, with subsequent renovations in the early 2000s. The primary strip center is anchored by Rittman IGA, a regional grocery store, and there are two on-site outparcel sections. More than 300 surface parking spaces are available for employee and customer use. The center’s large pylon and building signage are highly visible at the signalized intersection of N Main Street and East and West Sunset Drive. Some of the tenants have been occupants for more than a decade. Currently, four vacancies remain, presenting an opportunity for an investor to drive leasing momentum and achieve aggressive leasing rates, ultimately bringing the center to full occupancy and increasing NOI.
Rittman Shopping Center is ideally located among the N Main Street commercial corridor, benefiting from immediate retail synergy. Neighboring national retailers include Goodwill, Subway, Dollar General, as well as many local bars and dining establishments. The Main Street Rittman location is approximately 20 miles west of Downtown Akron and conveniently located near Interstates 71, 76, and 277.
According to CoStar analytics, 122,810 locals reside within the subject’s 10-mile radius, boasting a robust consumer spending power of more than $1.6 billion and an average household income of just under $95,000. Of the realm’s consumer spending sectors, food & alcohol, as well as household operations and equipment, are among the three largest spending categories, aligning with the subject’s tenant mix.
MATTERPORT 3D TOUR
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- Operating and Financials
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- Title and Insurance
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Building Size
62,610 SF
Building Class
B
Year Built/Renovated
1964/2004
Percent Leased
77%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.24
Lot Size
6.00 AC
Opportunity Zone
Yes
Parcel Number
63-02000-000
Zoning
C2 - Commercial
Parking
330 Spaces (5.19 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
- Signalized Intersection
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 1st Floor
- 1,400-4,700 SF
- Retail
- In-Line
- 30 Days
- 1st Floor
- 3,200 SF
- Restaurant
- End Cap
- Now
- 1st Floor
- 4,000 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,400-4,700 SF | Retail | In-Line | 30 Days |
| 1st Floor | 3,200 SF | Restaurant | End Cap | Now |
| 1st Floor | 4,000 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 1,400-4,700 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
1st Floor
| Size |
| 3,200 SF |
| Space Use |
| Restaurant |
| Position |
| End Cap |
| Available |
| Now |
1st Floor
| Size |
| 4,000 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
5,303
10,770
36,444
2020 Population
4,814
10,102
35,577
2029 Population
5,394
10,928
36,918
2024-2029 Projected Population Growth
1.7%
1.5%
1.3%
Daytime Employees
1,725
3,735
10,223
Total Businesses
178
309
1,137
Average Household Income
$67,180
$80,719
$87,576
Median Household Income
$48,430
$59,459
$69,198
Total Consumer Spending
$59.2M
$131.6M
$463.3M
Median Age
41.3
42.3
41.6
2024 Households
2,247
4,348
14,462
Percent College Degree or Above
12%
14%
17%
Average Home Value
$150,594
$201,248
$221,308
SALE ADVISOR
SALE ADVISOR
Scott Wiles, Senior Managing Director
Scott Wiles is a founding member and principal of the Patton | Wiles | Fuller Group of Marcus & Millichap, and also serves as a Senior Managing Director within Marcus & Millichap’s National Retail Group (NRG) and Institutional Property Advisors (IPA) divisions. Scott, along with his partners Erin Patton and Craig Fuller, has led the Patton | Wiles | Fuller Group to become the top retail brokerage team in the Midwest region. A 15-year veteran of the commercial real estate industry, Scott has spent his entire career with Marcus & Millichap, growing the Patton | Wiles | Fuller Group from 3 partners to 15 talented individuals including seven additional agents – three of which are under Scott’s direct mentorship – as well as six full-time support staff.
Through consistently strong results on challenging assignments, Scott has built a large client base of notable public and private REITs, funds, developers, and investment companies. Scott’s recent assignments include dispositions of retail assets for Agree Realty, ShopOne Centers REIT, Slate Retail REIT, Stark Enterprises, Broad Reach Retail Partners, Bon Investments, Visconsi Companies, Carnegie Companies, LRC Realty, SITE Centers, and Chase Properties. With an exceptional track record and transactional expertise on a wide variety of retail dispositions and acquisitions, Scott has established himself and the Patton | Wiles | Fuller Group as the preeminent brokerage team specializing in shopping centers, single-tenant net-leased retail, portfolio sales, and sale-leasebacks in the Midwest markets.
Scott is an active member of ICSC and has received numerous recognitions and awards from prominent commercial real estate publications, including being inducted into the REJournals Midwest Real Estate News Hall of Fame in 2015, and being recognized or quoted in Real Estate Forum, Globe Street, and REJournals publications numerous times.
Through consistently strong results on challenging assignments, Scott has built a large client base of notable public and private REITs, funds, developers, and investment companies. Scott’s recent assignments include dispositions of retail assets for Agree Realty, ShopOne Centers REIT, Slate Retail REIT, Stark Enterprises, Broad Reach Retail Partners, Bon Investments, Visconsi Companies, Carnegie Companies, LRC Realty, SITE Centers, and Chase Properties. With an exceptional track record and transactional expertise on a wide variety of retail dispositions and acquisitions, Scott has established himself and the Patton | Wiles | Fuller Group as the preeminent brokerage team specializing in shopping centers, single-tenant net-leased retail, portfolio sales, and sale-leasebacks in the Midwest markets.
Scott is an active member of ICSC and has received numerous recognitions and awards from prominent commercial real estate publications, including being inducted into the REJournals Midwest Real Estate News Hall of Fame in 2015, and being recognized or quoted in Real Estate Forum, Globe Street, and REJournals publications numerous times.
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AUCTION CONTACT
Taylor Cunningham
Contact
Auctioneer License:
Ten-X Commercial, LLC Samantha Corbat RE Brkr REC.2019003563; Ohio Department of Agriculture- Auctioneer Program: Ten-X Commercial, Inc. (Ten-X, Inc.) Auctioneer Corporation 2022000147 Samantha Corbat Auctioneer 2023000126
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Rittman Shopping Center | Majority Occupied | 200-260 N Main St
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Rittman Shopping Center | Majority Occupied | 200-260 N Main St
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