Boardman Plaza

Boardman | Ohio (Youngstown MSA)

Offering Summary

  • Status: active
  • Price:
  • GLA: 341,274 SF
  • Occupancy: 79.55%
  • Net Operating Income: $2,331,631
  • Year(s) Built: 1984
  • Major Tenants: Roses, Ollie's Bargain Outlet, New Fitness Tenant, Save-A-Lot, Michael's, USPS, Goodwill
  • 79.6% Occupied, 428,995 SF Shopping Center in Top-Performing Ohio Retail Submarket
  • Substantial Upside via 20.4% of Vacant GLA: (2) 20K – 35K SF Jr Boxes + (3) 5K – 10K Units + (5) <4K SF Small-Shop Bays
  • 83.4% of Occupied GLA Tenanted by National Brands/Operators
  • Drastically Below-Market Anchor Rents: $2.80/SF NNN ($5.23/SF All-In) Avg. of (4) Original Jr Box Leases VS. Brand-New $12/SF NNN 35,000 SF Jr-Box/Fitness Lease
  • Recent/Substantial Cap-Ex Investments: Majority of Roofs Replaced Since 2016; Asphalt Re-Surfacing
  • 33,816 Cars/Day on 5-Lane Route 224 Frontage; Multiple 40K+ Cars/Day Signalized Intersections
  • Surrounded by Top 25% in Ohio/Chain Big-Box Performers: Target, Walmart, Sam’s Club, Meijer, Home Depot, Best Buy, Giant Eagle, Kohl’s, Hobby Lobby, Dick’s, PetSmart, Old Navy, OfficeMax, etc.
  • 5 “City Blocks” of Property each Separately Parceled; Supportive of Parcelization/Sale Strategies
  • Zero Outparcel Buildings Despite 2,900+ Feet (0.55 Mile) of Route-224 Parcel Frontage | Directly Across from Chick-fil-a, Taco Bell, Chase Bank, BP, Goodyear, etc.
  • Best-in-Ohio QSR Trade-Area: Chick-fil-a (#2 out of 63), Raising Cane’s (#2 out of 62), Chipotle (#11 out of 241), & Starbucks (#1 out of 219)
  • Infill/Middle-Income Demo’s: 7K / 49K / 113K Population Counts, $72K – $78K AHHI’s, in 1 / 3 / 5-Miles
  • 2 Miles West of I-680 (MSA’s Top North/South Highway); 3 Miles East of SR-11 (100-Mile North/South Highway thru Northeast Ohio)
  • Excellent Fundamentals: Parallel Storefronts to Corridor | 8 Ingress/Egress Points | Unrestricted Left In/Out | Uninhibited Visibility
  • Youngstown MSA: 430K Population; 1-Hr to Pittsburgh & Cleveland; 45 Minutes to Akron/Canton
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director