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Grove City Shopping Center 2290 Stringtown Rd 40,848 SF 100% Leased Retail Building Grove City, OH 43123 $8,750,275 CAD ($214.22 CAD/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
Building Size
40,848 SF
Year Built
2005
Price
$8,750,275 CAD
Price Per SF
$214.22 CAD
Cap Rate
7.40%
NOI
$647,494 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
4.83 AC
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
1 of 5
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Grove City Shopping Center | 2290 Stringtown Rd
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