4750 Tuscarawas StCanton, OH 44708

Property Details for 4750 Tuscarawas St

Year built

1974

Construction

BRICK

Lot size

0.46 AC

Property size (Sq ft)

2,135 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

43-17353

APU

4317353

Description

This exceptional investment opportunity presents two freestanding retail buildings in Canton, Ohio, occupied by Little Caesars and Dollar Tree. The property boasts a combined 12,173 square feet on a 1.39-acre lot, featuring a Little Caesars location with over five years remaining on its NNN lease, including 2% annual rent increases and three five-year options. The Little Caesars lease currently generates $42,840 annually and this store ranks among the top performers in Ohio. Dollar Tree, a Fortune 500 company, occupies the second building, having exercised a five-year option with a rent increase last year. Their lease has approximately 3.5 years remaining. The property benefits from a newly installed roof (2023, 20-year warranty) on the Dollar Tree building. Dollar Tree has been at this location since 2002 and consistently performs well within its Ohio market. The property is strategically located on Tuscarawas Street, experiencing high daily traffic counts exceeding 22,900 vehicles, and is less than ten minutes from the Pro Football Hall of Fame, benefiting from a dense population and high daytime employee count within a three-mile radius. The property is offered for sale at $1,962,963, with a strong 7.76% cap rate and a net operating income (NOI) of $152,397. The buildings were constructed in 1974. This is a compelling investment opportunity, available for sale individually or as a portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $596,861

  6.5%

  $550,949

  7%

  $511,596

• Comparable approach

  Method

  Valuation

  Relative Method

  $503,264

  Geo Method

  $503,264

• Alternative Use

  Use

  Valuation

  Residential

  $464,746

  Hospitality

  $425,705

  Educational

  $354,182

  Medical

  $366,362

  Retail

  $550,949

Location Insight

City

Canton

County

Stark

State

Ohio

Latitude

40.7945

Longitude

-81.4354

CBSA code

15940

CBSA name

CANTON-MASSILLON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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