Shopping Strip
Whipple Strip
5156 Whipple Ave NW, Canton, OH 44718
Listing Price: $1,465,000
Cap Rate
8.00%
Gross SF
16,000
Rentable SF
16,000
Price/Gross SF
$91.56
Lot Size
1.34 acres
Year Built
1980
Investment Overview
Marcus & Millichap is pleased to present for sale Whipple Strip located in Canton, Ohio.
Whipple Strip
Investment Highlights
- 100 Percent Occupied, 16,000-Square-Foot Strip Center Located in Belden Village – Canton, Ohio's #1 Retail Trade Area
- Located in the Heart of the Belden Village Trade Area with 7.2 Million Square Feet of Retail Leased to 98 Percent Occupancy
- 42,320 Vehicles per Day Hard Corner Location at Intersection of Belden Village Street NW and Whipple Avenue NW
- Just 0.3-Mile South and West of I-77 Exit Ramps – I-77 Sees 85,500 Vehicles per Day
- Below-Market Rents Averaging $11.10 per Square Foot Gross
- Ease of Management with Only Three Tenants – 8.52 Percent Cap Rate (Over 52 Bps) on In-Place Rent Roll if Self-Managed
- Sleep Outfitters (50 Percent of Gross Leasable Area) – Tenant for Almost 20 Years at Below-Market Rent of $8.50 per Square Foot Gross
- Average Base Rent of $10.10 per Square Foot with Upside via Scheduled Increases in Option Terms | Two Gross Leases Present Future Conversion Opportunity
Listing Price: $1,465,000
Cap Rate
8.00%
Gross SF
16,000
Rentable SF
16,000
Price/Gross SF
$91.56
Lot Size
1.34 acres
Year Built
1980
Investment Highlights
- 100 Percent Occupied, 16,000-Square-Foot Strip Center Located in Belden Village – Canton, Ohio's #1 Retail Trade Area
- Located in the Heart of the Belden Village Trade Area with 7.2 Million Square Feet of Retail Leased to 98 Percent Occupancy
- 42,320 Vehicles per Day Hard Corner Location at Intersection of Belden Village Street NW and Whipple Avenue NW
- Just 0.3-Mile South and West of I-77 Exit Ramps – I-77 Sees 85,500 Vehicles per Day
- Below-Market Rents Averaging $11.10 per Square Foot Gross
- Ease of Management with Only Three Tenants – 8.52 Percent Cap Rate (Over 52 Bps) on In-Place Rent Roll if Self-Managed
- Sleep Outfitters (50 Percent of Gross Leasable Area) – Tenant for Almost 20 Years at Below-Market Rent of $8.50 per Square Foot Gross
- Average Base Rent of $10.10 per Square Foot with Upside via Scheduled Increases in Option Terms | Two Gross Leases Present Future Conversion Opportunity
Investment Overview
Marcus & Millichap is pleased to present for sale Whipple Strip located in Canton, Ohio.
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