Grocery Store
STNL Marc's Grocery Store | 2020 BTS with 15+ Years Remaining
Cleveland Ave NW, North Canton, OH 44709
Listing Price: $8,423,000
Investment Overview
Freestanding Marc’s Grocery Store with 15+ Years Remaining on 20-Year Double-Net Lease in Canton, OH. Class “A” Modern Construction – 2020 Build-to-Suit; Steel Superstructure, Masonry Exterior on all Four Sides with Architecturally-Cladded High-Image Storefronts. 47,275 SF GLA Situated on Large 9.5-Acre Parcel with Ample Parking; High-Visibility LED Monument Sign at Cleveland Ave & Additional Monument Sign at 30th Street NW. Dedicated Entrance Drives to 2 Arterial Roadways - Cleveland Ave
(North-South) and 30th Street NW (East-West); Just 0.1-Mi North of Major Signalized Intersection of both Streets with 23,425 VPD. 0.1- to 0.3-Mile North of I-77 and Route 62 Exit Ramps at Cleveland
Ave – I-77 Sees 83,775 VPD and Route 62 Sees 63,600 VPD. Dense, Infill Demographics with 11,236/1-Mi & 86,235/3-Mi Population Counts.
Investment Highlights
- Freestanding Marc's Grocery Store with 15+ Years Remaining on 20-Year Double-Net Lease in Canton, OH
- Reported Strong Sales of $21.75M (LYE Feb 2024); $460/SF & Low 2.6% Rent-to-Sales Ratio with Strong Positive Annual Sales Growth Trend
- Relocation & Expansion from Longstanding 31,000 SF Inline Store at 30th Street Plaza Located Just 0.4-Mile East.
- In Business within the Immediate Trade Area for Over 35 Years (Since 1990); Top-Tier Performance of Prior Store Necessitated Relocation & Expansion
- Minimal Landlord Responsibilities: LL Roof/Structure Cost Responsibility Only (5 y/o Roof w/ Transferable Warranty); LL Coordinates Tax/Ins/CAM with 100% Uncapped Reimbursement from Tenant
- Low Rent of Only $12/SF NNN on Brand-New Building; Rent/SF is Equal to Marc's Prior Rent/SF at Far Inferior, 1952-Built, Class "C" Shopping Center they Relocated From
- $0.50/SF Rent Increase in April 2030 Adds 30 bps to Cap Rate; Three Five-Year Options with $0.50/SF Increases in Each
- 0.1- to 0.3-Mile North of I-77 and Route 62 Exit Ramps at Cleveland Ave – I-77 Sees 83,775 VPD and Route 62 Sees 63,600 VPD
Exclusively Listed By
Grocery Store
STNL Marc's Grocery Store | 2020 BTS with 15+ Years Remaining
Listing Price: $8,423,000
Investment Highlights
- Freestanding Marc's Grocery Store with 15+ Years Remaining on 20-Year Double-Net Lease in Canton, OH
- Reported Strong Sales of $21.75M (LYE Feb 2024); $460/SF & Low 2.6% Rent-to-Sales Ratio with Strong Positive Annual Sales Growth Trend
- Relocation & Expansion from Longstanding 31,000 SF Inline Store at 30th Street Plaza Located Just 0.4-Mile East.
- In Business within the Immediate Trade Area for Over 35 Years (Since 1990); Top-Tier Performance of Prior Store Necessitated Relocation & Expansion
- Minimal Landlord Responsibilities: LL Roof/Structure Cost Responsibility Only (5 y/o Roof w/ Transferable Warranty); LL Coordinates Tax/Ins/CAM with 100% Uncapped Reimbursement from Tenant
- Low Rent of Only $12/SF NNN on Brand-New Building; Rent/SF is Equal to Marc's Prior Rent/SF at Far Inferior, 1952-Built, Class "C" Shopping Center they Relocated From
- $0.50/SF Rent Increase in April 2030 Adds 30 bps to Cap Rate; Three Five-Year Options with $0.50/SF Increases in Each
- 0.1- to 0.3-Mile North of I-77 and Route 62 Exit Ramps at Cleveland Ave – I-77 Sees 83,775 VPD and Route 62 Sees 63,600 VPD
Investment Overview
Freestanding Marc’s Grocery Store with 15+ Years Remaining on 20-Year Double-Net Lease in Canton, OH. Class “A” Modern Construction – 2020 Build-to-Suit; Steel Superstructure, Masonry Exterior on all Four Sides with Architecturally-Cladded High-Image Storefronts. 47,275 SF GLA Situated on Large 9.5-Acre Parcel with Ample Parking; High-Visibility LED Monument Sign at Cleveland Ave & Additional Monument Sign at 30th Street NW. Dedicated Entrance Drives to 2 Arterial Roadways - Cleveland Ave (North-South) and 30th Street NW (East-West); Just 0.1-Mi North of Major Signalized Intersection of both Streets with 23,425 VPD. 0.1- to 0.3-Mile North of I-77 and Route 62 Exit Ramps at Cleveland Ave – I-77 Sees 83,775 VPD and Route 62 Sees 63,600 VPD. Dense, Infill Demographics with 11,236/1-Mi & 86,235/3-Mi Population Counts.
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