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3124 N Ridge Rd E - Mattress Firm & Kay Jewelers 0.67 Acres of Commercial Land Offered at $3,283,928 CAD in Ashtabula, OH 44004
Investment Highlights
- Corporate Credit – Kay Jewelers and Mattress Firm are Both Corporately-Guaranteed Leases
- Excellent Tenure – Each Tenant has Operated in the Property for 10 Years
- Modern Construction – Attractive EIFS and Block Storefront Design
- Tenant Commitment to Property – Both Tenants Recently Renewed for 5 Years
- Regional Market – Ashtabula is the Focal Retail Marketplace for 97,000 People
- Depreciable Asset – Building Lease Allows for Annual Depreciation
Executive Summary
For sale to qualified investors is the fee simple interest in a two-tenant, corporately-leased, modern retail asset in Ashtabula, Ohio. Leased to Mattress Firm and Kay Jewlers, the property is fully stabilized and features recent 5-year extensions from both tenants, a testament to their success during the past 10 years of occupancy. Kay Jewelers is signed by Sterling, Inc., the operating company for Kay, Jared and Zales, and Mattress Firm carries a corporate guaranty from Mattress Holding Corp. Constructed in 2015, the building features a modern storefront design and is situated in the focal point of the Ashtabula retail trade area between Aldi and Aspen Dental. Ashtabula is the hub of business and retail for approximately 97,000 people in Ashtabula County. National retailers surrounding the property also include Walmart, Home Depot, Lowe’s. Planet Fitness, Five Below, Chipotle, McDonald’s, Jimmy John’s, Sheetz, and more.
Property Facts
| Price | $3,283,928 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.67 AC |
| Price | $3,283,928 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.67 AC |
1 Lot Available
Lot
| Price | $3,283,928 CAD | Lot Size | 0.67 AC |
| Price Per AC | $4,901,385.48 CAD |
| Price | $3,283,928 CAD |
| Price Per AC | $4,901,385.48 CAD |
| Lot Size | 0.67 AC |
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3124 N Ridge Rd E - Mattress Firm & Kay Jewelers
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