16 Township Rd 1429 | South Point, OH 45680
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16 Township Rd 1429
South Point, OH 45680
Retail Property For Sale
Investment Highlights
- Brand New 2024 Built-to-suit Construction Starbucks.
- 10-year Initial Lease Term With Four, 5-year Renewal Options.
- ±30,000 Vehicles Per Day.
- NNN Corporate Starbucks Lease.
- 10% Rent Increases Scheduled Every 5 Years (Included In Options).
- ±137,000 People Reside Within A 10-mile Radius.
Executive Summary
Friedman Real Estate is pleased to present this brand-new built-to-suit free-standing Starbucks in South Point, Ohio. Starbucks executed a 10-year NNN lease which will commence in August of 2024. The lease features 10% increases every 5 years and four (4) five (5) year option periods to renew. The subject property is directly adjacent to a brand-new construction ALDI and is surrounded by many national and regional retailers. The subject property is highly visible to over 30,000 vehicles per day. This is an ideal opportunity for an investor to purchase a passive-income real estate asset with minimal landlord responsibilities
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Retail
Building Size
2,500 SF
Building Class
B
Year Built
2024
Price
$2,578,125
Price Per SF
$1,031
Cap Rate
6.40%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.81 AC
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