Massillon Commons

Massillon | Ohio

Offering Summary

  • Status: active
  • Price: $6,590,000
  • CAP Rate: 8.50%
  • GLA: 112,738 SF
  • Net Operating Income: $560,184
  • Price/SF: $58
  • Year(s) Built: 1986
  • Lot Size (Acres): 11.61
  • Major Tenants: Dunham's Sports, P.S. Cook',s Kids Castle Childcare, Fresenius Kidney Care
  • 112,738 SF, 87% Occupied Community Center in High-Traffic, Infill Massillon OH Location (400K+ Person MSA)
  • Located in Highly Trafficked Retail Node: Shadowed by Home Depot; Neighbored by Target & Giant Eagle (#1 Marketshare Grocer)
  • Upside via 12.7% Vacant GLA (6 Units, 4 of 6 Units <2,200 SF) Provides +/- $193K of NOI Growth Potential
  • Long-Term Re-Lease Upside via Dunham’s Sports (45% Of GLA; 50,503 SF) Leased @ $6.25/SF Gross
  • Across from Brand-New Starbucks & Panda Express Development; Neighbored by Brand-New Chick-Fil-A, Chipotle, 7-Brew, & ALDI
  • 8.50% In-Place CAP Rate; Positive Leverage with Current Debt Options: 9%+ Projected Going-In Cash/Cash Return
  • Located on Highly Trafficked Lincoln Way E (25,150 VPD); Primary East/West Corridor from Downtown Massillon to Downtown Canton
  • Strong Medical And Service Tenancy Including Fresenius Kidney Care, Stark Medical, And Great Expressions Dental
  • Diverse Roster With Long Tenant Tenure And Staggered Lease ExpirationsThrough 2031
  • Infill/Mature Middle-Income Trade Area With 113,673 Residents & AHHI of $76,969 in 5-Miles
  • Low Tax Rate of 1.55%; Supportive of Efficient/Low NNN Charges, and Higher Base Rent Opportunities
  • Part Of The Canton–Massillon MSA (400K+ Population) & Broader Cleveland–Akron–Canton CSA (3.5M Population)
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director