For Sale
$2,842,529

16230 Dresden AveEast Liverpool, OH 43920

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 3,401 square foot Bob Evans restaurant in East Liverpool, Ohio. Located at 16230 Dresden Ave, 43920, this single-tenant property boasts a 20-year absolute NNN lease commencing July 24, 2023, and expiring July 31, 2043, with a remaining term of 18.7 years. The lease includes a corporate guarantee and features 2% annual rent bumps starting May 1, 2027. The property sits on a 1.88-acre lot and was built in 1995. Currently operating at 100% occupancy, it generates a Net Operating Income (NOI) of $198,977, resulting in a 7.00% cap rate and a price per square foot of $835.79. The asking price is $2,842,529. Benefiting from high visibility and accessibility due to its location on Lincoln Highway and State Route 170, the property is an outparcel of the Summit Square Shopping Center, near other national retailers. Its proximity to the State Route 39 Development, slated for expansion, promises further traffic increases. The property's location is ranked in the 70th percentile by Placer.Ai, indicating strong market performance. Lease renewal options of 4 or 5 years are available.

Highlights

  • Top-tier location, Placer.Ai 70th percentile ranking.
  • Investment-grade tenant with strong corporate guaranty.
  • Triple-net (NNN) lease; zero landlord responsibilities; 2% annual rent increases beginning 2027.
  • High visibility and accessibility; 11.9 million annual traffic count on I-30 and State Route 170.
  • Outparcel building within the Summit Square Shopping Center.
  • Conveniently located, 10 minutes from the State Route 39 redevelopment area.

Property Details for 16230 Dresden Ave

Property type
Retail properties
Square Feet
3,401 SF
Year Built
1995
Lot Size (sq. ft)
81,893 SF

Location Insight

City
East Liverpool
County
Columbiana
State
Ohio
Latitude
40.6656888
Longitude
-80.5887239
16230 Dresden Ave, East Liverpool, Ohio

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16230 Dresden Ave
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