This STNL investment opportunity includes a new five (5) year lease with three (3) five year options. The monthly rent increases by $100 each year in the original term as well as in the renewal options. There is a Personal Guaranty on the lease as well. The tenant is Falls Discount & Beverage selling recession proof items such as wine, beer, lottery and tobacco. No Landlord responsibility!
|Property Use:||Net Leased Property|
|Cap Rate Percentage:||7.51|
|Building Size:||3,065 SF|
|Lot Size:||0.29 AC|
0.5 miles to Falls River Square
0.2 miles to SR 8/SR 59 interchanges
11,470 Vehicles Per Day
The roof was replaced three years ago and has a 15 year warranty on it.
No Landlord responsibility!
100% Occupied InvestmentProperty Features
|Location:||The subject property is a corner parcel located in Cuyahoga Falls, a suburb outside of Akron, OH. Akron is known as the "Rubber Capital of the World". Goodyear Tires, America's largest tire manufacturer and the 4th-largest private employer in Summit County, with approximately 3,000 employees, recently built a new world headquarters in the city. Additionally, Akron is home to Fortune 500 company, FirstEnergy, who employs nearly 2,500 people. The city is the headquarters to a number of other notable companies such as, Signet Jewelers and Spectrum (2,095 employees). Furthermore, the area is supported by the faculty, staff and students of The University of Akron and Kent State University. Akron is also known for its biomedical downtown corridor with Summa Health System and world-renowned Cleveland Clinic's Akron General. The property's excellent location and visibility with frontage along a main roadway packaged with its proximity to area employees, students and residents positions the tenant well for years to come.|
|Down Payment: $275,000|
|Gross Income: $20,640|