Sagamore Square

Sagamore Hills, Ohio

Offering Summary

  • Status: accepted offer
  • Price: $6,175,000
  • CAP Rate: 8.50%
  • GLA: 93,004 SF
  • Net Operating Income: $524,909
  • Price/SF: $66.39
  • Year(s) Built: 1975
  • Lot Size (Acres): 17.19
  • Major Tenants: Marc's, NAPA Auto Parts, Once Upon A Child, Loose Moose, Farmers Insurance
  • 96% Occupied, 93,004 SF Shopping Center Anchored by Marc’s Grocery Store
  • Marc’s Grocery Occupies 55% of GLA; Tenant Since 2005; Sales Approaching % Rent Threshold
  • Cheap Rents: Marc’s = $5.95/SF NNN, Average Small-Shop = $6.70/SF NNN
  • Affluent Trade-Area: $108K AHHI in 5 Miles, $104K AHHI in 3 Miles, $95K AHHI in 1 Mile
  • High Yield Opportunity: 8.5% CAP, Projected 13.1% Cash/Cash Return with New Bank Financing
  • Upside from Appealing RE Taxes Down: $7.118M Tax Value, $6.175M List-Price
  • Marc’s Has Over 60 Locations Throughout Northeast and Central Ohio
  • 2 Miles from I-271 Exit Ramps, Easy Access to I-480 and I-80
  • Upside via Lease-up of Two Small Shop Vacancies (1,330 SF & 1,700 SF)
  • “Daily Needs” E-Commerce & Recession-Proof Tenant Mix: Auto Parts, Daycare, Financial Services, Grocery, Hair & Nail Salon, Staffing, & Multiple Food and Other Service-Oriented Tenants
  • Located on Recently-Widened State Route-82 (Major Commuter Corridor); Signalized Intersection, Excellent Visibility, and a Dedicated Turn Lane
  • 1 Mile from Major Retail Hub with Tenants Including Target, Lowe’s, Giant Eagle, Best Buy, Kohl’s, Home Depot, Hobby Lobby and Many Others

Scott Wiles

Senior Managing Director