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Reduced! Credit Strip w/ Big Upside|7.76% CAP 11734-11740 South Ave 23,616 SF 100% Leased Retail Building North Lima, OH 44452 $3,195,896 CAD ($135.33 CAD/SF) 7.76% Cap Rate



Investment Highlights
- Just Reduced!! Value-Add Opportunity: Significantly Below Market Rents on One Anchor Tenant in Approx. 50% of Center w/ No Renewal Options Remaining
- Successful Tenancy: All Long-Term Tenants Consistently Exercised Renewals & Addl. Potential Major Upside in Converting Modified Gross Leases to NNN
- Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report)
- 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $97/S.F.
- Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
- Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown
Executive Summary
• Just Reduced!! Value-Add Opportunity: Significantly Below Market Rents on One Anchor Tenant in Approximately 50% of Center with No Renewal Options Remaining
• 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $97/S.F.
• Additional Potential Major Upside Through Converting Modified Gross Leases Into NNN
• Successful Tenancy: All Long-Term Tenants Who Have Consistently Exercised Renewals
• Income Growth Driver: Additional Two LED Billboards Base Rent + Percentage Rent Clause, Located in Community with Ban on Any Future Billboard Competition
• Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown
• Tremendous Frontage and Visibility with Pylon Signage Sitting on Oversized 2.63 Acre Parcel
• Roof with Transferrable Warranty Until 2032
• Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
• Surrounded by Major Regional Employers Including Mercy Health, (3 Miles: 800+ employees, 224 beds at St. Elizabeth Boardman Campus) Youngstown State University, and Numerous Manufacturing, Logistics, Retail, and Healthcare Employers Throughout the Mahoning Valley such as Akron Children’s Boardman Campus (5 Miles)
• Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report) and Convenient Access to Youngstown State University (~12,000 Students & ~1,500 Staff/Faculty), Supporting Long-Term Residential Stability and Workforce Development
• Growing Suburban Trade Area with Close Proximity to Youngstown, Boardman, and the Pennsylvania Border, Providing Access to a Broad Regional Consumer Base
• Strategically Positioned Along North Lima’s Primary Commercial Corridor Near Interstate 76, Interstate 80, and Interstate 680, Providing Excellent Regional Accessibility Throughout Northeast Ohio and Western Pennsylvania
• 100% Occupied, Credit Rated Center Anchored by Dollar Tree (NASDAQ: DLTR, Moody’s “Baa2” and S&P “BBB”) at Attractive Low Price Point of $97/S.F.
• Additional Potential Major Upside Through Converting Modified Gross Leases Into NNN
• Successful Tenancy: All Long-Term Tenants Who Have Consistently Exercised Renewals
• Income Growth Driver: Additional Two LED Billboards Base Rent + Percentage Rent Clause, Located in Community with Ban on Any Future Billboard Competition
• Immaculate Curb Appeal at Signalized Corner Location with Approximately 25,000 Vehicles Per Day and Less than 15 Miles from Downtown Youngstown
• Tremendous Frontage and Visibility with Pylon Signage Sitting on Oversized 2.63 Acre Parcel
• Roof with Transferrable Warranty Until 2032
• Desirable, Affluent Market: Strategic, High Traffic Location with Average Household Incomes Over $143,000 Within 1-Mile Radius
• Surrounded by Major Regional Employers Including Mercy Health, (3 Miles: 800+ employees, 224 beds at St. Elizabeth Boardman Campus) Youngstown State University, and Numerous Manufacturing, Logistics, Retail, and Healthcare Employers Throughout the Mahoning Valley such as Akron Children’s Boardman Campus (5 Miles)
• Located Within Highly Regarded South Range Local School District (Top Ranked School District by U.S News & World Report) and Convenient Access to Youngstown State University (~12,000 Students & ~1,500 Staff/Faculty), Supporting Long-Term Residential Stability and Workforce Development
• Growing Suburban Trade Area with Close Proximity to Youngstown, Boardman, and the Pennsylvania Border, Providing Access to a Broad Regional Consumer Base
• Strategically Positioned Along North Lima’s Primary Commercial Corridor Near Interstate 76, Interstate 80, and Interstate 680, Providing Excellent Regional Accessibility Throughout Northeast Ohio and Western Pennsylvania
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
23,616 SF
Building Class
B
Year Built/Renovated
1980/2018
Price
$3,195,896 CAD
Price Per SF
$135.33 CAD
Cap Rate
7.76%
NOI
$248,053 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.21
Lot Size
2.63 AC
Zoning
G-C
Parking
125 Spaces (5.29 Spaces per 1,000 SF Leased)
Frontage
205’ on South Ave
Amenities
- Banking
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Dollar Tree (S&P "BBB")
- -
- 9,108 SF
- -
- Sep 2031
- Huntington Bank ATM
- -
- 1 SF
- -
- Aug 2027
- Lamar (S&B "BB") Advertising
- -
- 2 SF
- -
- Mar 2044
- Pizza Joe's
- -
- 2,800 SF
- -
- Sep 2028
- Posh Places
- -
- 11,708 SF
- -
- Aug 2031
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Dollar Tree (S&P "BBB") | - | 9,108 SF | - | Sep 2031 | ||
| Huntington Bank ATM | - | 1 SF | - | Aug 2027 | ||
| Lamar (S&B "BB") Advertising | - | 2 SF | - | Mar 2044 | ||
| Pizza Joe's | - | 2,800 SF | - | Sep 2028 | ||
| Posh Places | - | 11,708 SF | - | Aug 2031 |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 05-004-0-055.00-0 | Improvements Assessment | $355,807 CAD |
| Land Assessment | $74,894 CAD | Total Assessment | $430,701 CAD |
Property Taxes
Parcel Number
05-004-0-055.00-0
Land Assessment
$74,894 CAD
Improvements Assessment
$355,807 CAD
Total Assessment
$430,701 CAD
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Reduced! Credit Strip w/ Big Upside|7.76% CAP | 11734-11740 South Ave
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