Walmart Shadow Strip East

Austintown, OH

Offering Summary

  • Status: closed
  • Price: $2,051,400
  • CAP Rate: 8.76%
  • GLA: 29,100 SF
  • Net Operating Income: $179,613
  • Price/SF: $77.15
  • Year(s) Built: 1997
  • Lot Size (Acres): 1.42 Acres
  • Lease Type: NNN
  • Major Tenants: Sherwin-Williams, CosmoProf, GNC, Supercuts
  • 64% Occupied, 29,100 SF Walmart-Shadowed Strip Center in Austintown, OH (Youngstown MSA)
  • Major Upside in Leasing Up 3 Vacancies Totaling 10,500 SF; 14.22% Stabilized CAP Rate » Directly Across from Walmart Supercenter & Adjacent to Home Depot – Major Shadow Anchors Driving Traffic to the Trade Area
  • Adjacent to the Site of a New Meijer Superstore – $3.5 Million Invested by Meijer in Land Acquisition with Plans to Open in 2021
  • In-Place Cash-on-Cash Return of 11.98%; Stabilized Cash-on-Cash Return of 36.85%
  • Anchored by Sherwin-Williams (20.6% of GLA); Tenant Since 1984, Leased Thru January 2023
  • 5 out of 7 Current Tenants In-Place for 20+ Years (Since the 1990’s) with Long History of Renewals
  • Mostly E-Commerce-Proof “Daily Needs” Tenants – Paint Store, Hair & Nail Salons, Beauty Supply Store, etc.
  • 6 out of 7 Tenants are NNN, 62% Recovery of Operating Expenses on 64% Current Occupancy
  • National Tenants Include Cosmo Prof, SuperCuts, GNC, Sherwin Williams » Other Prominent Tenants within the Immediate Vicinity Include JCPenney, Planet Fitness, Aldi, Tractor Supply Co., Harbor Freight, Buffalo Wild Wings, and More
  • Average Household Income Over $77K in a 1-Mi Radius
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director