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Shopping Neighborhood

Ridgewood Crossing

620 Ridgewood Crossing, Fairlawn, OH 44333

Listing Price: $4,935,000

Cap Rate
7.90%
Gross SF
25,133
Rentable SF
25,133
Price/Gross SF
$196.36
Lot Size
6.73 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to present for sale Ridgewood Crossing in Fairlawn, Ohio. 94 percent occupied, 25,133 square-foot neighborhood retail strip in Akron, Ohio. Offering Includes 1.3-Acre Developable Outparcel with Direct Frontage & Visibility to Ridgewood Road. Located at I-77 exit ramps with I-77 seeing 71,500 vehicles per day. Prominent pylon signage and visibility from Ridgewood Road with 10,800 vehicles per day. Potential to add additional freestanding GLA – Large 6.7 acre parcel.

Investment Highlights

  • 94 Percent Occupied, 25,133 Square-Foot Neighborhood Retail Strip in Akron, Ohio
  • Anchored by Dr. George & Dr. Grucella Family Dentistry (Family Dental Team Inc.) (36 Percent of GLA) In-Place Since 2009 and Leased to Triple-Net (NNN) Terms Through June 2029
  • 10.16 Percent Pro Forma CAP with Lease-Up and Outparcel Deal
  • Offering Includes 1.3-Acre Developable Outparcel with Direct Frontage and Visibility to Ridgewood Road
  • Anticipated Outparcel Rent of $75K per Year Absolute Triple-Net; Outparcel Deal Could add 150 bps to Cap Rate
  • Pending Interest at $22 per Square Foot Triple-Net to Fill Remaining 4,000 Square Foot Vacancy – Would Add $100K to NOI (Plus 29 Percent); Not Factored into List Price
  • National Tenants Old Carolina BBQ (13.5 Percent of GLA) and Edible Arrangements (8.36 Percennt of GLA) on Triple-Net Leases
  • Potential for Additional Freestanding GLA on 6.7-Acre Main Parcel; Pad Sites Surround Main Strip

Exclusively Listed By

Financing By

Shopping Neighborhood

Ridgewood Crossing

Listing Price: $4,935,000

Cap Rate
7.90%
Gross SF
25,133
Rentable SF
25,133
Price/Gross SF
$196.36
Lot Size
6.73 acres
Year Built
2005

Investment Highlights

  • 94 Percent Occupied, 25,133 Square-Foot Neighborhood Retail Strip in Akron, Ohio
  • Anchored by Dr. George & Dr. Grucella Family Dentistry (Family Dental Team Inc.) (36 Percent of GLA) In-Place Since 2009 and Leased to Triple-Net (NNN) Terms Through June 2029
  • 10.16 Percent Pro Forma CAP with Lease-Up and Outparcel Deal
  • Offering Includes 1.3-Acre Developable Outparcel with Direct Frontage and Visibility to Ridgewood Road
  • Anticipated Outparcel Rent of $75K per Year Absolute Triple-Net; Outparcel Deal Could add 150 bps to Cap Rate
  • Pending Interest at $22 per Square Foot Triple-Net to Fill Remaining 4,000 Square Foot Vacancy – Would Add $100K to NOI (Plus 29 Percent); Not Factored into List Price
  • National Tenants Old Carolina BBQ (13.5 Percent of GLA) and Edible Arrangements (8.36 Percennt of GLA) on Triple-Net Leases
  • Potential for Additional Freestanding GLA on 6.7-Acre Main Parcel; Pad Sites Surround Main Strip

Investment Overview

Marcus & Millichap is pleased to present for sale Ridgewood Crossing in Fairlawn, Ohio. 94 percent occupied, 25,133 square-foot neighborhood retail strip in Akron, Ohio. Offering Includes 1.3-Acre Developable Outparcel with Direct Frontage & Visibility to Ridgewood Road. Located at I-77 exit ramps with I-77 seeing 71,500 vehicles per day. Prominent pylon signage and visibility from Ridgewood Road with 10,800 vehicles per day. Potential to add additional freestanding GLA – Large 6.7 acre parcel.

Exclusively Listed By

Financing By

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