For Sale
$15,212,840

1677 Home AveAkron, OH 44310

Akron, OH: High-yield, corporate-guaranteed investment.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a 108,510 square foot BJ's Wholesale Club, including a gas station, situated on a 10.57-acre lot in Akron, Ohio. The property boasts a strong 22-year operating history with BJ's Wholesale Club (NYSE: BJ), a publicly traded company with a S&P BB+ credit rating, and a recently executed 5-year lease extension. The current lease, a triple-net (NN) agreement with a corporate guarantee, has approximately 3.7 years remaining, followed by three 5-year options with a 6% rent increase at each option. The asking price is $15,212,840, representing a 7.25% cap rate and a price per square foot of $140.20. The property generates a substantial net operating income (NOI) of $1,102,931 annually. Built in 1998, this strategically located storefront enjoys high visibility and accessibility along a major retail corridor (Home Ave, 12,233 vehicles per day), with close proximity to Highway 59 (97,267 VPD) and Howe Avenue (33,536 VPD). Its adjacency to the Plaza at Chapel Hill shopping center and Chapel Hill Business Park further enhances its desirability. The property benefits from a stable and dense demographic base and an established local customer base. This is a rare opportunity to acquire a high-performing, low-maintenance asset with a long-term, secure lease. The property's APN is 67-60839.

Highlights

  • $15,212,840 asking price for a 108,510 SF net-leased BJ's Wholesale Club storefront in Akron, OH.
  • NN lease with corporate guarantee from BJ's Wholesale Club (NYSE: BJ), a publicly traded company with a strong credit rating (S&P: BB+), offering 4.9 years remaining on a 30-year lease with three 5-year options at 6% rent increases.
  • High-traffic location on Home Ave (12,233 VPD), near major roadways (Hwy 59 and Howe Ave), and adjacent to established shopping centers.
  • Strong demographics and an established local customer base.

Property Details for 1677 Home Ave

Property type
Retail properties, Retail space
Square Feet
108,510 SF
Year Built
1998
Lot Size (sq. ft)
460,429 SF

Location Insight

City
Akron
County
Summit
State
Ohio
Latitude
41.1159424
Longitude
-81.4825794
1677 Home Ave, Akron, Ohio

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1677 Home Ave
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