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Grove City Shopping Center 2332 Stringtown Rd 40,848 SF 100% Leased Retail Building Grove City, OH 43123 $6,330,000 ($154.96/SF) 7.40% Cap Rate
Investment Highlights
- Daily Needs Anchored: Discount Drug Mart anchors the center, providing essential daily needs and driving consistent foot traffic.
- Recent Lease Extensions: All four tenants recently extended leases at rent increases, demonstrating seasoned tenancy.
- Surrounded by Major Retailers: Walmart, Target, Home Depot, Kroger, Giant Eagle, and Aldi are nearby traffic drivers.
- Ideal Tenant Mix: Features a gym, restaurant, and hair salon for synergistic cross-traffic and service-based demand.
- Prime Retail Corridor: Located at signalized intersections along Stringtown Rd (±34,027 VPD), less than 1 mile from I-71 (±100,826 VPD).
- Below Replacement Cost: Offered at $155 PSF, significantly below replacement cost; annual base rent is $11.59 PSF.
Executive Summary
Matt Wallace
License # REC.2022007141, BRKP.2024002419 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
License # REC.2022007141, BRKP.2024002419 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
40,848 SF
Building Class
B
Year Built
2005
Price
$6,330,000
Price Per SF
$154.96
Cap Rate
7.40%
NOI
$468,401
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.17
Lot Size
5.50 AC
Zoning
C
Parking
206 Spaces (5.04 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 040-004289 | Improvements Assessment | $1,018,400 |
| Land Assessment | $365,050 | Total Assessment | $1,383,450 |
Property Taxes
Parcel Number
040-004289
Land Assessment
$365,050
Improvements Assessment
$1,018,400
Total Assessment
$1,383,450
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Grove City Shopping Center | 2332 Stringtown Rd
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