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Shopping Neighborhood

Ridgewood Crossing

620 Ridgewood Crossing, Fairlawn, OH 44333

Listing Price: $4,935,000

Cap Rate
7.00%
Gross SF
25,133
Rentable SF
25,133
Price/Gross SF
$196.36
Lot Size
6.73 acres
Year Built
2005

Investment Overview

84 percent occupied, 25,133 square-foot neighborhood retail strip in Akron, Ohio. 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

  • 84 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
  • 9 Percent CAP Should Pending Leasing Interest Convert to a Lease (+200 bps over list CAP); 14.3 Percent Plus 100 Percent Occupied Cash-on-Cash Return
  • Pending Interest in Vacancies at $22 per Square-Foot Triple-Bet (NNN) to Fill Remaining 4,000 Square-Foot Vacancy – Would Add $100,000 to NOI (+29 Percent); Not Factored into List Price
  • Attractive Financing Options Still Available with Below- Market (Low 5's) Interest Rates – Contact Agent for More Information
  • National Tenants Old Carolina BBQ (13.5 Percent of GLA) & Edible Arrangements (8.36 Percent of GLA) on Triple-Net (NNN) Leases
  • Tiffany's Bakery – Well-Known Local Restaurant In-Place Since 2006 and Leased Through October 2027 with Outdoor Seating and Walk-Up Pickup Window
  • Offered Free and Clear with 6.2 Percent In-Place Cash-on-Cash Return and 12.2 Percent In-Place Total Return at Projected 75 Percent LTV Financing Terms

Exclusively Listed By

Financing By

Shopping Neighborhood

Ridgewood Crossing

Listing Price: $4,935,000

Cap Rate
7.00%
Gross SF
25,133
Rentable SF
25,133
Price/Gross SF
$196.36
Lot Size
6.73 acres
Year Built
2005

Investment Highlights

  • 84 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
  • 9 Percent CAP Should Pending Leasing Interest Convert to a Lease (+200 bps over list CAP); 14.3 Percent Plus 100 Percent Occupied Cash-on-Cash Return
  • Pending Interest in Vacancies at $22 per Square-Foot Triple-Bet (NNN) to Fill Remaining 4,000 Square-Foot Vacancy – Would Add $100,000 to NOI (+29 Percent); Not Factored into List Price
  • Attractive Financing Options Still Available with Below- Market (Low 5's) Interest Rates – Contact Agent for More Information
  • National Tenants Old Carolina BBQ (13.5 Percent of GLA) & Edible Arrangements (8.36 Percent of GLA) on Triple-Net (NNN) Leases
  • Tiffany's Bakery – Well-Known Local Restaurant In-Place Since 2006 and Leased Through October 2027 with Outdoor Seating and Walk-Up Pickup Window
  • Offered Free and Clear with 6.2 Percent In-Place Cash-on-Cash Return and 12.2 Percent In-Place Total Return at Projected 75 Percent LTV Financing Terms

Investment Overview

84 percent occupied, 25,133 square-foot neighborhood retail strip in Akron, Ohio. 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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