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3032 N Ridge Rd E 30,426 SF 100% Leased Retail Building Ashtabula, OH 44004 $3,200,000 ($105.17/SF) 8.70% Cap Rate
Investment Highlights
- Fully stabilized retail center with 100 percent occupancy supported by long-term national and regional tenancy
- Consistent annual income with reported monthly revenue of $23,509 and annual revenue of $282,108 across the fully leased tenant mix
- Anchored by Discount Drug Mart, an established Ohio-based retailer with more than 70 locations and over five decades of market presence
- Long-term leases in place, including Discount Drug Mart through 2031 and Super Buffet through 2030
Executive Summary
The Discount Drug Mart is a 100% triple-net leased retail asset constructed in 1999 on a 2.70 acre lot. The retail center consists of a single-story building occupied by the Discount Drug Mart (23,926 SF) and the Super Buffet (6,500 SF). In addition, both tenants remain long-term tenants with Discount Drug Mart occupying the property for 26 years. Drum Mart just renewed their lease till March 2031. Furthermore, the Property benefits from excellent visibility and superb access given its’ location and three curb cuts at the signaled intersection of US Highway 20 and Vineland Avenue. This convenient positioning allows well-established restaurants and retailers to drive significant foot traffic to the center including Aspen Dental, Lowe’s Red Lobster, Burger King, Office Max, Dollar General, as well as additional nationally recognized tenants located within Ashtabula Towne Square.
3032 North Ridge Road East is located in Ashtabula within Ashtabula County. This situates the Property in the northeast corner of Ohio along Lake Erie approximately 60 miles east of Cleveland and 54 miles west of Erie, Pennsylvania. Additionally, the Property benefits from its’ positioning along US Highway 20 and adjacency to State Highway 11, providing excellent local and regional access to the surrounding area. Furthermore, the strategic positioning of the Property directly opposite of Ashtabula Towne Square provides for a consistent stream of cross-shopping activity.
Property Facts
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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- Retailer
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99,999 SF
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Lorem Ipsum
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Discount Drug Mart is a privately held retail and pharmacy chain headquartered in Medina, Ohio. Founded in 1969, the company opened its first store in Elyria and expanded throughout Ohio with a focus on combining pharmacy services with broad retail offerings. The organization operates stores that carry health and beauty items, household goods, groceries, seasonal merchandise, and professional medical equipment, alongside services such as bill payment, lottery sales, and postage transactions. The chain continues to emphasize convenience through its one-stop shopping model and by offering in-store clinics in partnership with regional healthcare providers. As an employee-owned company, it maintains a customer-focused approach rooted in affordability and accessibility.
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- Accommodation and Food Services
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99,999 SF
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Lorem Ipsum
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Jan 0000
Welcome to Panda Buffet Chinese Restaurant Located at 3032 N Ridge Rd E, Ashtabula, OH 44004, our restaurant offers a wide array of authentic Chinese Food, such as Sesame Chicken, Hunan Shrimp, Egg Roll, Vegetable Delight, Curry Beef, & etc. Try our delicious food and service today. Come in for a Chinese Lunch Special or during evenings for a delicious Chinese style dinner. If you have any suggestion to our food or service, please go to the customer feedback page and leave us your suggestion or review. We will respond to your suggestion as soon as possible.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
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Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 030130002000 | Improvements Assessment | $839,690 |
| Land Assessment | $203,770 | Total Assessment | $1,043,460 |
Property Taxes
Presented by
Park Professional Plaza
3032 N Ridge Rd E
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