Riesbeck’s Food Markets

Zanesville | Ohio

Offering Summary

  • Status: price reduced
  • Price: $7,755,000
  • Cap Rate: 7.00%
  • GLA: 54,300 SF
  • Net Operating Income: $543,000
  • Price/SF: $142.82
  • Year(s) Built: 2001
  • Lot Size (Acres): 7.47
  • Lease Type: Absolute NNN
  • Riesbeck’s Food Markets | Zanesville, Ohio | Part of Columbus CSA with Total Population Over 2.51m People
  • Landlord Favorable Triple Net Lease | No Landlord Responsibilities | Tenant Responsible for Roof & Structure
  • Full Corporate Guarantee by Associated Wholesale Grocers (AWG)| Largest Cooperative Food Wholesaler to Supermarkets and Grocery Stores in the United States
  • AWG | Annual Sales of Over $12.3 Billion | Serves Over 1,100 Member Companies and Over 3,100 Locations | AWG is Legal Tenant on Lease
  • Riesbeck’s Food Markets | Regional Grocery Chain with 16 Locations Across Ohio & West Virginia | In Business for Over 98 Years | Became Part of AWG Store Brand Program in 2016
  • Over 10-Years Remaining On Current Term | Deep Commitment & Success at Site | Extended Lease Back in 2013 For Additional 20-Years through 9/30/2033 | Over 33 Years of Committed Tenancy at Site
  • Positive Sale Growth Trend | 25.7% Growth in Sales Since 2019 | YoY Growth of 5.7%
  • Build-to-Suit Location Originally Constructed in 2000/2001 | Measures 54,300 Square Feet | Situated on Oversized Parcel of 7.47 Acres
  • Reasonable Rent Level of $10.50/ SF | Healthy Rent-to-Sales Ratio of 3.07%
  • Prime Real Estate Situated at Hard Corner of Maysville Ave and State Route 719 | Combines to See Over 28,193 Vehicles Per Day
  • Dense & Mature Immediate Demographics | Population Counts of 5,950 within 1-Mile, 23,675 within 3-Miles and 40,026 within 5-Miles
  • Immediate Area includes Sheetz, Taco Bell, AutoZone, KFC, CVS, Ollie’s, Goodwill, Family Dollar, Tim Hortons, O’Reilly Auto, and
    Goodwill | Closest Competition is 2 Miles South
  • Part of the Columbus-CSA | Over 2.51m People | One of the Fastest Growing MSAs in the County | Currently 14th Most Populous City in the United States
EXCLUSIVELY LISTED BY:

Zach Turner

Senior Associate