4503 Tuscarawas StCanton, OH 44708

Property Details for 4503 Tuscarawas St

Year built

2019

Construction

METAL FRAME

Lot size

0.48 AC

Property size (Sq ft)

844 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

10-011248

APU

10011248

Description

This exceptional investment opportunity presents a stabilized, 100% occupied, multi-tenant retail property featuring AT&T, Checkers and Rally's, and Charleys. The 6,200 square foot property, situated on a 1.06-acre lot at 4503 Tuscarawas St W, Canton, OH 44708, boasts a strong 7.25% cap rate and a substantial NOI of $157,501. Comprised of two buildings, one constructed in 1976 and the other in 2020, the property underwent extensive renovations in 2022, including new build-outs and ground-up construction for Rally's. Significant improvements completed since 2017 include a new TPO roof (2020), parking lot paving (2017), and new HVAC systems (2019/2022), totaling over $600,000 in upgrades. The property benefits from a prime location on Tuscarawas Street West, a major thoroughfare connecting Canton and Massillon, experiencing high daily vehicle traffic (19,100 VPD) and situated near a significant retail corridor. The property's proximity to major retailers like Walmart, JCPenney, and others further enhances its visibility and appeal. The ground lease extends until March 31, 2035, with built-in rent bumps. This is a rare opportunity to acquire a well-maintained, high-performing retail investment in a densely populated area with strong demographics (10,624 residents within 1 mile, 64,514 within 3 miles, and 152,140 within 5 miles). The property's three tenants enjoy an average lease term remaining of 8.1 years, with a weighted average lease term of 7.8 years. The asking price is $2,172,000, translating to $350.32 per square foot.

Location Insight

City

Canton

County

Stark

State

Ohio

Latitude

40.7965

Longitude

-81.4285

CBSA code

15940

CBSA name

CANTON-MASSILLON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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