267 Wabash AveBrewster, OH 44613

Property Details for 267 Wabash Ave

Year built

2002

Construction

BRICK

Lot size

1.00 AC

Property size (Sq ft)

7,800 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

70-01776

APU

7001776

Description

This exceptional investment opportunity presents a 8,000 square foot storefront located at 267 Wabash Ave N, Brewster, OH 44613. Built in 2002, this single-story building boasts a strong 8.50% cap rate and a Net Operating Income (NOI) of $44,100, with an asking price of $518,900. The property is currently leased to Family Dollar Stores, Inc., a tenant with an S&P BBB credit rating, providing a corporate guaranty. The lease features a NNN structure and has 6.2 years remaining, with a built-in 17% rent increase scheduled for 2031. The current rent is easily replaceable at $5.51 per square foot. This prime location benefits from high traffic visibility, with direct access and frontage to 6,130 vehicles per day – the highest traffic count in Brewster. A significant competitive advantage exists due to the property's status as the only dollar store within a 6-mile radius. The property is directly adjacent to the Wheeling & Lake Erie Railway Company Headquarters, further enhancing its strategic location and potential. This is a rare opportunity to acquire a stable, high-performing retail investment in a desirable Ohio market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,180,571

  6.5%

  $2,012,835

  7%

  $1,869,061

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,838,622

  Geo Method

  $1,838,622

• Alternative Use

  Use

  Valuation

  Residential

  $1,697,901

  Hospitality

  $1,555,269

  Educational

  $1,293,965

  Medical

  $1,338,467

  Retail

  $2,012,835

Location Insight

City

Brewster

County

Stark

State

Ohio

Latitude

40.717

Longitude

-81.598

CBSA code

15940

CBSA name

CANTON-MASSILLON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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