5228 Mahoning AveAustintown, OH 44515

Property Details for 5228 Mahoning Ave

Year built

2022

Lot size

0.55 AC

Property size (Sq ft)

1,008 SF

Property type

Drive through restaurants

APN

48-028-0-099.00-0

APU

480280099000

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Starbucks located at 5228 Mahoning Ave, Austintown, OH 44515. The property boasts a 1,000 square foot building constructed in 2022, operating as a drive-thru only location, reflecting the latest QSR coffee retail prototype. This prime retail space is situated on a 0.55-acre lot with excellent visibility and frontage on Mahoning Ave, a major east-west commuter artery with 24,689 vehicles per day. The property benefits from a shared signalized entrance/exit, providing virtually direct access. It's strategically positioned as an outparcel to a Giant Eagle grocery store, leveraging the high traffic generated by this established anchor tenant. The property enjoys a 100% occupancy rate with a strong, credit-rated tenant, Starbucks Corporation (NYSE: SBUX), under a double-net lease with minimal landlord responsibilities (roof/structure only). The current lease, expiring February 28, 2033, includes four, five-year options with a 10% rent increase in March 2028 and subsequent options. The current annual net operating income (NOI) is $99,000, resulting in a 5.25% cap rate. The asking price is $1,886,000, translating to $1,886 per square foot. The property is located just 0.15 miles from Route 11 exit ramps (30,928 vehicles per day), further enhancing its accessibility and visibility. The surrounding area features a robust mix of retail and restaurant establishments, including well-known national brands. The location benefits from a dense population base, with 40,983 residents within a 3-mile radius and 82,058 within a 5-mile radius. Austintown, a large suburb of Youngstown, boasts highly-rated public schools. This is a rare opportunity to acquire a high-performing, low-risk investment in a prime location within the Youngstown MSA, a market with a population of 430,000 and numerous major employers.

• CAP approach

  CAP return

  Valuation

  6%

  $281,797

  6.5%

  $260,120

  7%

  $241,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $237,607

  Geo Method

  $237,607

• Alternative Use

  Use

  Valuation

  Residential

  $219,421

  Hospitality

  $200,989

  Educational

  $167,220

  Medical

  $172,971

  Retail

  $260,120

Location Insight

City

Youngstown

County

Mahoning

State

Ohio

Latitude

41.0999

Longitude

-80.7574

CBSA code

49660

CBSA name

YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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