Smith Centre

Cuyahoga Falls, Ohio

Offering Summary

  • Status: active
  • Price: $2,175,000
  • CAP Rate: 9.63%
  • GLA: 56,088 SF
  • Net Operating Income: $209,528
  • Price/SF: $38.78
  • Year(s) Built: 1960
  • Lot Size (Acres): TBD Upon Lot Split, 3.3 Acre Est.
  • Major Tenants: Goodwill, Dollar General, Leaded Glass II, Red Fox Pub
  • 96% Occupied, 56,088 SF Shopping Center Anchored by Dollar General & Goodwill (Combined 46% of GLA)
  • High CAP Rate (9.63% CAP), Low Price/SF ($39/SF) Investment Offering
  • Below-Market Rents: $6.41/SF ALL-IN, $4.25/SF NNN Equivalent
  • 18.5% Cash/Cash Return, 25.6% Total Return, Projected with Bank Financing @ 75% LTV, 4.0% IR, 10/25
  • Dense Population Base: 13,609 People within 1-Mile, 197,653 within 5-Miles
  • 17,823 Cars/Day on State Road; Excellent Frontage/Visibility/Signage
  • Sandwiched Between CVS + Newly-Remodeled McDonalds; Across from KFC, Dunkin’, Little Caesars, & Donatos
  • Upside via Lease-Up of One 2,340 SF Vacancy
  • Dollar General’s Q2 Net Sales Grew 24%, Same-Store Sales Increased 18.8%, & Net Income Surged 85% from Q2 the Prior Year
  • 1.7 Miles from Historic Downtown Cuyahoga Falls; 1 Mile from Newly Redeveloped Portage Crossing Shopping Center (Giant Eagle, Cinemark, LA Fitness Anchored)
  • Part of the Largest Metropolitan Area in Ohio, the Cleveland–Akron–Canton Combined Statistical Area; Home to a Population of Over 3.5 Million
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director