Falls Discount & Beverage
Falls Discount & Beverage occupies this STNL investment opportunity. They have a new, 10 year Lease beginning February 1, 2021. New Lease includes a Personal Guaranty for the life of the term, and annual rent increases of $50.00 per month.
| Property Type | Retail |
|---|---|
| Property Use | Net Leased Property |
| Year Built | 1948 |
| Cap Rate Percentage | 7 |
| Listing ID | N9QJRL |
| MLS ID | 442950 |
| Style | Other Style |
| Building Size | 3,065 SF |
| Lot Size | 0.29 AC |
Property Highlights
The roof was replaced three years ago and has a 15 year warranty on it.
Listed at a 7% CAP!
Triple net lease with minimal Landlord responsibilities.
100% Occupied Investment
NEW 10 Year Lease Beginning 2/1/2021!
Average annual income is now $20,940.00.
Property 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: $299,000 |
| Gross Income: $20,940 |
