2200 June PkwyZanesville, OH 43701

Property Details for 2200 June Pkwy

Year built

2001

Lot size

7.47 AC

Property size (Sq ft)

54,300 SF

Property type

Grocery and convenience stores

APN

62-56-02-03-002

APU

62560203002

Description

This exceptional investment opportunity presents a 54,308 sq ft grocery store and pharmacy in Zanesville, Ohio. Located on a 7.47-acre lot at a signalized intersection with high visibility and traffic (approx. 35,000 vehicles per day), the property boasts a strong location within a thriving community. The property is 100% occupied by Riesbeck's Food Market, backed by Associated Wholesale Grocers (AWG), the largest cooperative food wholesaler in the US, with an absolute NNN lease commencing September 30, 2013, and expiring September 29, 2033, with four 5-year extension options. The asking price is $6,960,000, representing a 7.80% cap rate and a price per square foot of $128.16. The property features a substantial net operating income (NOI) of $543,000. Built in 2000/2001, this build-to-suit location benefits from a strong tenant with a proven track record of success, showing a 30% sales growth since 2019 and a 6% year-over-year increase. The property is surrounded by complementary businesses, including a BMV, Zane Plaza Shopping Center, Sheetz, and Huntington Bank, and is situated near major employers such as Genesis Hospital (2,800 employees), Halliburton (560 employees), Bimbo Bakery (450 employees), and numerous other significant businesses. Zanesville's strong economy, coupled with the tenant's performance and lease terms, makes this a compelling investment opportunity. The property's location within the Columbus MSA (2.51 million population) further enhances its appeal. The area offers a diverse workforce, with major employers in healthcare, education, manufacturing, and retail. The city's rich history and vibrant growth contribute to a positive economic outlook.

• CAP approach

  CAP return

  Valuation

  6%

  $15,180,129

  6.5%

  $14,012,426

  7%

  $13,011,539

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,799,639

  Geo Method

  $12,799,639

• Alternative Use

  Use

  Valuation

  Residential

  $11,820,006

  Hospitality

  $10,827,062

  Educational

  $9,007,988

  Medical

  $9,317,787

  Retail

  $14,012,426

Location Insight

City

Zanesville

County

Muskingum

State

Ohio

Latitude

39.9083

Longitude

-82.0153

CBSA code

49780

CBSA name

ZANESVILLE, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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