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3032 N Ridge Rd E
Ashtabula, OH 44004
Retail Property For Sale


EXECUTIVE SUMMARY
Discount Drug Mart is a 30,426 SF retail center located on US Highway 20, just east of State Highway 11 in Ashtabula, Ohio. The Discount Drug Mart consists of two suites and is currently 100% occupied. Drug Mart lease is NNN.
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.
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
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
30,426 SF
Building Class
B
Year Built
1999
Price
$4,592,280 CAD
Price Per SF
$150.93 CAD
Cap Rate
8.43%
NOI
$387,305 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.26
Lot Size
2.72 AC
Zoning
GB
Parking
143 Spaces (4.7 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 030130002000 | Improvements Assessment | $1,166,287 CAD |
| Land Assessment | $283,026 CAD | Total Assessment | $1,449,314 CAD |
PROPERTY TAXES
Parcel Number
030130002000
Land Assessment
$283,026 CAD
Improvements Assessment
$1,166,287 CAD
Total Assessment
$1,449,314 CAD
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