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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

Cap Rate
7.00%
Tenant Name
Marc's
Years Remaining On Lease
15.2
Gross SF
47,275
Guarantor
No Guarantee
Rentable SF
47,275
Price/Gross SF
$178.17
Lease Type
Double Net
Rent Per Square Feet
$12.47

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

Cap Rate
7.00%
Tenant Name
Marc's
Years Remaining On Lease
15.2
Gross SF
47,275
Guarantor
No Guarantee
Rentable SF
47,275
Price/Gross SF
$178.17
Lease Type
Double Net
Rent Per Square Feet
$12.47

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.

Exclusively Listed By

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