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Plaza East 2825-2893 N Ridge Rd 49,415 SF 100% Leased Retail Building Ashtabula, OH 44004 $3,200,000 ($64.76/SF)
INVESTMENT HIGHLIGHTS
- Prime Retail Corridor: Situated within the primary retail corridor of Ashtabula, Plaza East is placed strategically to compliment nearby retailers.
- Strong Leasing Momentum: Just over the past year, we have successfully added three new tenants to the Plaza
- Priced Below Replacement Cost: This asset is priced well below the replacement cost, at an attractive price per square foot of $65 PSF.
- Value Add: Plaza East is being offered 76% occupied, with significant opportunity to boost NOI upon lease up of vacant space.
- Destination Real Estate: Opportunity to own in one of the fastest growing marketing in Northeast Ohio
- Surrounding New Developments: Over just the past few years, there has been several major retailers breaking ground in the Ashtabula market
EXECUTIVE SUMMARY
Broker of Record
Matt Wallace
License # REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Matt Wallace
License # REC.2022007141 (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
49,415 SF
Building Class
B
Year Built
2003
Price
$3,200,000
Price Per SF
$64.76
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
3.17 AC
Zoning
Local Business District
Parking
142 Spaces (2.87 Spaces per 1,000 SF Leased)
Frontage
273’ on US 20
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Tenant Controlled HVAC
- Storage Space
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 030120007500 | Improvements Assessment | $433,340 |
| Land Assessment | $148,160 | Total Assessment | $581,500 |
PROPERTY TAXES
Parcel Number
030120007500
Land Assessment
$148,160
Improvements Assessment
$433,340
Total Assessment
$581,500
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Plaza East | 2825-2893 N Ridge Rd
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