1677 Home AveAkron, OH 44310

Property Details for 1677 Home Ave

Year built

1998

Lot size

10.13 AC

Property size (Sq ft)

107,704 SF

Property type

Retail properties

Property subtype

Retail space

APN

67-60839

APU

6760839

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $30,109,772

  6.5%

  $27,793,636

  7%

  $25,808,376

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,388,074

  Geo Method

  $25,388,074

• Alternative Use

  Use

  Valuation

  Residential

  $23,444,972

  Hospitality

  $21,475,468

  Educational

  $17,867,336

  Medical

  $18,481,822

  Retail

  $27,793,636

Location Insight

City

Akron

County

Summit

State

Ohio

Latitude

41.1159

Longitude

-81.4826

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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