2562 Navarre Ave - Freestanding FOR SALE
Oregon, OH 43616 |
$2,424,000 USD
216-503-3610
2562 Navarre Ave
Oregon, OH 43616
HIGHLIGHTS
- COMMITMENT TO LOCATION – Recent lease extension providing 10 years of guaranteed term showing long term commitment to the location from Walgreens
- -PNC has also exercised a 5 year option early, showing both tenants long term commitment to the location.
- BELOW MARKET RENT – Walgreen’s is paying ±$168,500/year, PNC is paying $43,200/year. Both are significantly below average for each respective chain
- EXTREMELY WELL LOCATED REAL ESTATE – The ±2 AC parcel sits on the hard corner of Navarra Road/Route 2 and Wheeling Street which sees ±21,200 VPD
- PASSIVE CREDIT TENANT INVESTMENT – The property provides a passive investment for an owner, with minimal LL responsibilities and 2 income streams from
- CLOSE PROXIMITY TO HIGHWAY – The asset is located near the I-280 & I-80/ 90 Ohio Turnpike interchange
FOR SALE DETAILS
PRICE
$2,424,000 USD
PRICE/SF
$149 USD /SF
CAP RATE
8.15%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2000
SPRINKLERS
-
PARKING SPACES
45
LAND DETAILS
LAND ACRES
2 AC
LAND SF
87,120 SF
ZONING
CR, Toledo
APN/PARCEL ID
44-55467
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216-503-3610
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216-503-3610
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