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702 Main St 14,016 SF Retail Building Delta, OH 43515 $865,000 ($61.72/SF) 8.55% Cap Rate
Investment Highlights
- Strong, profitable, long-term grocery store tenant.
- Recent capital improvements include new roof (2010) and repaved parking lot (2019).
- Walk-in coolers in the back room of the store owned by Landlord and included in offering.
- 14,016 SF building on 0.91 acres with 75 parking spaces and three curb cuts.
Executive Summary
This single-tenant retail investment property offers a stable income stream with a long-standing tenant, Community Markets, operating at this location since 1990. The property is offered at $865,000 with an attractive 8.5% cap rate and a net operating income of $73,927.60. The tenant’s current lease runs through February 28, 2029, providing secure cash flow for investors.
The building spans 14,016 SF on a 0.91-acre site and has undergone significant updates, including a new roof in 2010, repaved parking lot in 2019, and interior renovations in 2002. The property includes 75 parking spaces, three curb cuts, and is zoned for commercial use.
Community Markets, now part of Spartan Nash, operates 49 grocery stores across the region and is backed by a major wholesaler with 188 supermarkets in 11 states. The lease structure includes base rent plus percentage rent on sales exceeding $3 million, with a historical maximum percentage rent of $10,000 annually. This investment offers a proven tenant, strong regional brand, and consistent performance for over three decades.
The building spans 14,016 SF on a 0.91-acre site and has undergone significant updates, including a new roof in 2010, repaved parking lot in 2019, and interior renovations in 2002. The property includes 75 parking spaces, three curb cuts, and is zoned for commercial use.
Community Markets, now part of Spartan Nash, operates 49 grocery stores across the region and is backed by a major wholesaler with 188 supermarkets in 11 states. The lease structure includes base rent plus percentage rent on sales exceeding $3 million, with a historical maximum percentage rent of $10,000 annually. This investment offers a proven tenant, strong regional brand, and consistent performance for over three decades.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
14,016 SF
Building Class
C
Year Built
1945
Price
$865,000
Price Per SF
$61.72
Cap Rate
8.55%
NOI
$73,928
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.91 AC
Zoning
B3 - Designed to accommodate a wide range of commercial uses that serve multiple neighborhoods or the broader community.
Parking
75 Spaces (5.35 Spaces per 1,000 SF Leased)
Frontage
82’ on MAIN ST
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $128,350 | |
| Land Assessment | $5,820 | Total Assessment | $134,170 |
Property Taxes
Parcel Numbers
Land Assessment
$5,820
Improvements Assessment
$128,350
Total Assessment
$134,170
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