3352 Kent RdStow, OH 44224

Property Details for 3352 Kent Rd

Year built

1998

Lot size

1.10 AC

Property size (Sq ft)

10,125 SF

Property type

Retail properties

Property subtype

Retail space

APN

56-16931

APU

5616931

Description

This exceptional investment opportunity presents a 9,876-square-foot CVS Pharmacy situated on a 1.1-acre lot at 3352 Kent Rd, Stow, OH 44224. The property boasts a strong 6.25% cap rate, generating a net operating income (NOI) of $212,000. Built in 1998, this single-building property benefits from a 10-year absolute NNN lease with a corporate guarantee from Walgreens, CVS Pharmacy, commencing December 1, 2024. The lease includes flat rent bumps, providing predictable income growth. Six, five-year lease options further enhance the long-term value. The property enjoys a highly visible hard corner location on Kent Road and Darrow Road, experiencing 32,000 vehicles per day. This location is strategically positioned within a thriving retail corridor, neighboring major retailers such as Target, Meijer, T.J. Maxx, Aldi, Kohl's, Hobby Lobby, Chipotle, and O'Reilly's. The surrounding area demonstrates strong demographics, with an average household income exceeding $89,233 within a three-mile radius and a significant population aged 65 and older. CVS's BBB credit rating from S&P underscores the tenant's financial stability and commitment to the location, evidenced by their recent 10-year lease extension. This is a rare opportunity to acquire a high-performing, low-risk retail investment with significant long-term potential. The asking price is $3,392,001. 100% occupancy ensures immediate cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $2,830,549

  6.5%

  $2,612,814

  7%

  $2,426,185

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,386,673

  Geo Method

  $2,386,673

• Alternative Use

  Use

  Valuation

  Residential

  $2,204,007

  Hospitality

  $2,018,858

  Educational

  $1,679,666

  Medical

  $1,737,433

  Retail

  $2,612,814

Location Insight

City

Stow

County

Summit

State

Ohio

Latitude

41.1589

Longitude

-81.4408

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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