Whipple Bradley Plaza

Canton | Ohio

Offering Summary

  • Status: accepted offer
  • Price: $3,135,000
  • Cap Rate: 8.00%
  • GLA: 20,751 SF
  • Net Operating Income: $250,915
  • Price/SF: $151.08
  • Year(s) Built: 1999
  • Lot Size (Acres): 1.61
  • Major Tenants: US Armed Forces Career Center, Canton MRI, Health and Fitness, Framer’s Workshop Picture Framing
  • 92% Occupied, 20,751 SF Neighborhood Strip Center Located in Belden Village – Canton, OH’s #1 Retail Trade Area
  • Located in the Heart of the Belden Village Trade Area with 7.2 Million SF of Retail Leased to 98% Occupancy
  • New 7-Year Lease with MRI/Imaging Center on 4,300 SF Endcap (20.7% of GLA) at $16/SF NNN
    • $1/SF Rent Increases in 2025, 2026 and 2029
    • Immediately Backfilled Former Month-to-Month Alliance Imaging Tenant
  • Below-Market/Replaceable Rents Averaging $13.37/SF All-in
  • Major Tenants Include U.S. Armed Forces Career Center (23% of GLA) and Health & Fitness (20% of GLA – Fitness Equipment Retailer)
    • Both Tenants Leased into 2027 and 2026, Respectively
  • Ease of Management with Only 6 Tenants/7 Units; Self-Managing could add 15 bps to CAP Rate (8.15% CAP)
  • Less than 400 Feet from the Major Intersection of Belden Village Street NW & Whipple Ave NW with 42,320 VPD Combined
  • Located Along Whipple Ave NW with 24,590 VPD and Just 0.3 Mile from I-77 Exit Ramps – I-77 Sees 85,500 VPD
  • Excellent Access & Visibility – Shallow Setback with 350 Feet of Frontage, 2 Curb Cuts to Whipple Ave NW & Additional Access via Side Street, and Large Pylon Sign
  • 0.3-Mile from Pacific Retail-Owned Belden Village Mall with 5.4M Visits Annually and Amongst a Who’s Who of Major Big-Box & Junior Box Retailers
  • Dense Middle-Income Demographics: 56,396/3-Mi & 162,343/5-Mi Population Counts; AHHI of $67-82=1K in 1/3/5-Mi Radius Rings
  • Part of the Canton-Massillon MSA with a Population of 400,000; Part of the Larger Cleveland-Akron-Canton CSA which is Home to a Population of Over 3.5 Million
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director