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Trumbull Plaza 2505-2587 Parkman Rd NW 86,818 SF 100% Leased Retail Building Warren, OH 44485 $3,489,800 CAD ($40.20 CAD/SF)
INVESTMENT HIGHLIGHTS
- RARE EXTREME VALUE ADD OPPORTUNITY
- Priced Far Below Replacement Cost at $21.60 Per Square Foot
- Grocery Anchored by Sparkle Market (Regional Chain of 18 Stores)
- 24% Actual Occupancy Provides Significant Upside
- Projected Lease Up Adds Over $3,400,000 of Value
- Includes Future Outlot Opportunity Adjacent McDonald's
EXECUTIVE SUMMARY
For sale to qualified investors is the fee simple interest in Trumbull Plaza, a 180,488 square foot shopping center located in Warren, Ohio. The asset presents a rare market opportunity with extreme value-add potential. The property is currently 49% occupied and offered at only $29 per square foot. Grocery anchored by regional grocer Sparkle Market (18 stores) since 1989, the shopping center features Dollar Tree, Little Caesar’s Pizza, and Metro PCS. Vacancies include a 94,114 square foot former Kmart, an outlot opportunity, and various-sized inline spaces. Projections to 85% occupancy show over $2.8 million of potential value creation. The property is situated amongst a dense population base with nearby access to the Warren Outer Belt (Route 82). Nearby national tenants include Aldi, CVS, McDonald’s, PNC Bank, Autozone, O’Reilly, Dollar General, Rite Aid, and others
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
86,818 SF
Building Class
C
Year Built/Renovated
1957/1987
Price
$3,489,800 CAD
Price Per SF
$40.20 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
18.53 AC
Parking
1,029 Spaces (5.5 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 10
- 6,936 SF
- Retail
- In-Line
- 30 Days
- 12
- 2,642 SF
- Retail
- In-Line
- 30 Days
- 13
- 2,441 SF
- Retail
- In-Line
- 30 Days
- 14
- 1,839 SF
- Retail
- In-Line
- 30 Days
Fully built-out grocery store
- 16
- 2,681 SF
- Retail
- End Cap
- 30 Days
- 3
- 1,610 SF
- Retail
- End Cap
- 30 Days
- 4
- 710 SF
- Retail
- End Cap
- 30 Days
- 5
- 2,369 SF
- Retail
- End Cap
- 30 Days
- 6
- 4,310 SF
- Retail
- In-Line
- 30 Days
- 7
- 12,636 SF
- Retail
- In-Line
- 30 Days
- 9
- 3,534 SF
- Retail
- In-Line
- 30 Days
| Space | Size | Space Use | Position | Available |
| 10 | 6,936 SF | Retail | In-Line | 30 Days |
| 12 | 2,642 SF | Retail | In-Line | 30 Days |
| 13 | 2,441 SF | Retail | In-Line | 30 Days |
| 14 | 1,839 SF | Retail | In-Line | 30 Days |
| 15 | 26,753 SF | Retail | - | 30 Days |
| 16 | 2,681 SF | Retail | End Cap | 30 Days |
| 3 | 1,610 SF | Retail | End Cap | 30 Days |
| 4 | 710 SF | Retail | End Cap | 30 Days |
| 5 | 2,369 SF | Retail | End Cap | 30 Days |
| 6 | 4,310 SF | Retail | In-Line | 30 Days |
| 7 | 12,636 SF | Retail | In-Line | 30 Days |
| 9 | 3,534 SF | Retail | In-Line | 30 Days |
10
| Size |
| 6,936 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
12
| Size |
| 2,642 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
13
| Size |
| 2,441 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
14
| Size |
| 1,839 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
15
| Size |
| 26,753 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| 30 Days |
16
| Size |
| 2,681 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| 30 Days |
3
| Size |
| 1,610 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| 30 Days |
4
| Size |
| 710 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| 30 Days |
5
| Size |
| 2,369 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| 30 Days |
6
| Size |
| 4,310 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
7
| Size |
| 12,636 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
9
| Size |
| 3,534 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
15
| Size | 26,753 SF |
| Space Use | Retail |
| Position | - |
| Available | 30 Days |
Fully built-out grocery store
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,378,472 CAD | |
| Land Assessment | $272,245 CAD | Total Assessment | $1,650,717 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$272,245 CAD
Improvements Assessment
$1,378,472 CAD
Total Assessment
$1,650,717 CAD
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Trumbull Plaza | 2505-2587 Parkman Rd NW
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