1897 Cooper Foster Park RdAmherst, OH 44001

Property Details for 1897 Cooper Foster Park Rd

Year built

1975

Lot size

0.64 AC

Property size (Sq ft)

2,124 SF

Property type

Retail space

APN

05-00-041-110-044

APU

500041110044

Description

This exceptional investment opportunity presents a 2,124-square-foot warehouse located at 1897 Cooper Foster Park Rd, Amherst, OH 44001. The property, built in 1980, boasts a strong 6.14% cap rate and a Net Net lease structure with a creditworthy tenant, Airgas. Airgas, a major U.S. supplier of gases, safety products, and process-based chemicals with over 1,400 locations, has occupied the space since June 2018. They recently executed a five-year lease renewal in June 2023, demonstrating a long-term commitment to the location. The lease includes one remaining five-year option. The property enjoys a prime location within Amherst's main retail corridor, benefiting from high visibility at the signalized intersection of Cooper Foster Park Road (approximately 13,600 vehicles per day) and Williamsburg Drive. Nearby prominent retailers include Tractor Supply, Meijer, Chick-fil-A, Raising Cane's, Arby's, and Aldi. The asking price is $530,000, with a current Net Operating Income (NOI) of $32,534. The remaining lease term is approximately 3.8 years. This is a rare chance to acquire a stable, income-producing asset in a thriving retail area. The property's history as a former bank branch adds to its unique appeal.

Location Insight

City

Amherst

County

Lorain

State

Ohio

Latitude

41.4178

Longitude

-82.1998

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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