1799 Portage Rd - Freestanding FOR SALE
Wooster, OH 44691 |
$8,230,000 USD
216-264-2000
1799 Portage Rd
Wooster, OH 44691
HIGHLIGHTS
- 100% Occupied, 106,042 SF 3-Tenant Grocery-Anchored Community Shopping Center in Wooster, OH
- Complete Renovation from 2019-2022 with All-New Leases, Build-outs & Extensive Capital Improvements
- Seller has Invested Over $3 Million in CapEx Including New Roof, All-New HVAC, Storefronts, Exterior Paint & Extensive New Built-Outs
- Anchored by Marc’s (47.3% of GLA) on NNN Lease thru July 2029; 2022 Sales Exceeded Percentage Rent Breakpoint – Contact Agent for Details
- Marc’s has Upcoming 7% Rent Increase in August 2024 (+$0.50/SF, +$25,096 Annually)
- Ollie’s Bargain Outlet (37% of GLA) – Leased thru March 2028; Reports Strong Sales with Low 6.4% Rent-to-Sales Ratio
FOR SALE DETAILS
PRICE
$8,230,000 USD
PRICE/SF
$78 USD /SF
CAP RATE
7.75%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Portage Crossings
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Storefront, Supermarket, Department Store
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1972
SPRINKLERS
-
PARKING SPACES
602
LAND DETAILS
LAND ACRES
12.53 AC
LAND SF
545,807 SF
ZONING
C-3
APN/PARCEL ID
67-01601-002
ASK ABOUT THIS PROPERTY
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216-264-2000
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216-264-2000
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