Austintown Plaza

Youngstown, OH

Offering Summary

  • Status: closed
  • Price: $3,450,000
  • CAP Rate: 9.14%
  • GLA: 83,754 SF
  • Net Operating Income: $315,418
  • Price/SF: $47.10
  • Year(s) Built: 1960
  • Lot Size (Acres): 5.744 Acres
  • Major Tenants: Buffalo Wild Wings, Biomat USA, JCPenney
  • 88.6% Occupied, 83,754 SF Walmart-Shadowed Value-Add Shopping Center Offering
  • Neighboring Walmart Saw 2.4 Million T12 Customer Visits – Top 9% in Ohio (#14 out of 145 Locations) and Top 10% Nationally (Source: Placer.AI)
  • Upside from Re-Developing or Ground-Leasing 3.5-Acre, 52,305 SF JCPenney Tract: $85K NOI ($1.62/SF on GLA) = $20/SF on GLA | $303K/Acre on Land
  • Located Directly Next to the Site of a New Meijer Superstore – $3.5M Invested by Meijer in Land Acquisition
  • Buffalo Wild Wings (9% of Occupied GLA, 26% of Income) – In-Place for 20+ Years, Long-Term NNN Lease thru Nov 2029
  • Grifols Biomat USA Plasma Center (20% of Occupied GLA, 37% of Income) on NNN Lease thru June 2025; Largest Plasma Collector in the U.S. with 150 Locations
  • New Roofs Installed on Entire Center in 2011 & 2012
  • Strong Traffic Counts of 29,000 VPD on Mahoning Avenue
  • 1-Mi West of OH-11 (33,645 VPD); 2.7-Mi East of Ohio Turnpike (45,000 VPD)
  • Potential Additional Upside via Lease-Up of Two Small-Shop Vacancies Totaling 11.4% of GLA (Approx. 4,800 SF Each)
  • Other Prominent Retailers in the Immediate Vicinity Include Home Depot, Giant Eagle, Tractor Supply Co., Harbor Freight, Planet Fitness, Aldi, Rite Aid, Walgreens, Dollar Tree & More
    Youngstown MSA – Home to a Population of 540,000, Approx. 1-Hour Drive from Cleveland, Akron, Canton & Pittsburgh
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director