West State Square

Alliance | Ohio

Offering Summary

  • Status: just listed
  • Price: $5,575,000
  • Cap Rate: 7.75%
  • Occupancy: 100%
  • Net Operating Income: $432,030
  • Price/SF: $121
  • Year(s) Built: 2001 & 1997/2020
  • Lot Size (Acres): 7.42
  • Major Tenants: TJ Maxx, Dollar Tree, Sketchers, Sleep Outfitters, Verizon, Sally Beauty Supply
  • 100% Leased, 46,000 SF Strip Center Anchored by TJ Maxx, Dollar Tree, and Skechers
  • Sits Directly in Between Brand New Meijer and Walmart – 3.7M Combined Annual Visits
  • Large Pylon Sign on West State Street which sees over 23,100+ VPD
  • Freestanding Skechers Outlet Building Included in Sale on Large 1.88 Acre Parcel
  • All Tenants on NNN Leases with Limited Landlord Responsibilities
  • Weighted Average Lease Term of 4.21 Years with No Current Vacancy
  • Average Base Rent of $10.55 Per SF with Upside Demonstrated by Skechers at $18.50–$20.35 Per SF
  • Generates 2.6 Million Annual Visits, Ranking in the Top 28% of Shopping Centers in Ohio
  • 7.42-Acre Site Across Two Parcels with a Favorable Effective Tax Rate of Just 1.27%
  • Strategic Positioning Near University of Mount Union, Alliance Community Hospital, and National Retailers
  • 5-Mile Population of 34,000 with Over $366 Million in Annual Consumer Spending
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director