1750 E Waterloo Rd - Warehouse FOR SALE


Akron, OH 44306
$3,750,000 USD
858-822-9811
1750 E Waterloo Rd, Akron, OH for Sale
$3,750,000 USD
Warehouse - FOR SALE
1/7
null | 8% Cap Rate

1750 E Waterloo Rd
Akron, OH 44306


HIGHLIGHTS

  • Absolute NNN Lease with No Landlord Responsibilities
  • Strong Personal Guaranty with Over $8.5MM Net Worth
  • Tenant Historically has $7-8MM Top Line Revenue Per Year
  • 3X Rent Coverage on 2023 Net Income
  • Tenant Completing $3.8MM Debt Payoff in 2024 Reducing OPEX by +/- $300K Annually
  • 2022 Environmental Site Assessment and Property Condition Report

OVERVIEW

The subject property is located on a 6.20 acre lot with immediate access to E Waterloo Rd and Massillon Rd with 49,500+ combined traffic counts. The lease is a new 10-year Absolute NNN lease with no landlord responsibilities, 2% annual increases and two-5 year renewal options. The lease offers a strong personal guaranty with over $8.5MM net worth. The subject property has a 2022 environmental site assessment and property condition report. The Tenant historically has $7-8MM top line revenue per year. Affluent demographics with 1-mile average household income of $75,000+ and population of 148,000+ in 5 mile radius. The property is within a 2 mile radius of several national retailers such as McDonald’s, Arby’s, Chipotle, ALDI, Advance Auto Parts, O’Reilly Auto Parts, and more. The subject property is nearby several residential apartments with over 950 units in a 3 mile radius and is directly across from Akron Fulton Airport, servicing more than 686,000 annual passengers. The site has permitted use for the retail sale if commercial trailers, parts, and service.. Watch Property Video: https://vimeo.com/1021049812?share=copy

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$379 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

STNL Industrial Outdoor Storage

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.2

LAND SF

270,072

ZONING

-

APN/PARCEL ID

68-12433,68-20809,68-40479,68-43681,68-60388,68-60389,68-60583,68-60584

ASK ABOUT THIS PROPERTY

Ryan GomezCushman & WakefieldMore Info
858-822-9811

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Ryan GomezCushman & WakefieldMore Info
858-822-9811

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.