STNL Industrial Outdoor Storage | 1750 E Waterloo Rd
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STNL Industrial Outdoor Storage 1750 E Waterloo Rd
9,904 SF Industrial Building Akron, OH 44306 $3,750,000 ($379/SF) 8% Cap Rate
Investment Highlights
- Absolute NNN Lease with No Landlord Responsibilities
- Tenant Historically has $7-8MM Top Line Revenue Per Year
- Tenant Completing $3.8MM Debt Payoff in 2024 Reducing OPEX by +/- $300K Annually
- Strong Personal Guaranty with Over $8.5MM Net Worth
- 3X Rent Coverage on 2023 Net Income
- 2022 Environmental Site Assessment and Property Condition Report
Executive Summary
The subject property is located on a 6.20 acre lot with immediate access to E Waterloo Rd and Massillon Rd with 49,500+ combined traffic counts. The lease is a new 10-year Absolute NNN lease with no landlord responsibilities, 2% annual increases and two-5 year renewal options. The lease offers a strong personal guaranty with over $8.5MM net worth.
The subject property has a 2022 environmental site assessment and property condition report. The Tenant historically has $7-8MM top line revenue per year. Affluent demographics with 1-mile average household income of $75,000+ and population of 148,000+ in 5 mile radius.
The property is within a 2 mile radius of several national retailers such as McDonald’s, Arby’s, Chipotle, ALDI, Advance Auto Parts, O’Reilly Auto Parts, and more. The subject property is nearby several residential apartments with over 950 units in a 3 mile radius and is directly across from Akron Fulton Airport, servicing more than 686,000 annual passengers. The site has permitted use for the retail sale if commercial trailers, parts, and service..
Watch Property Video: https://vimeo.com/1021049812?share=copy
The subject property has a 2022 environmental site assessment and property condition report. The Tenant historically has $7-8MM top line revenue per year. Affluent demographics with 1-mile average household income of $75,000+ and population of 148,000+ in 5 mile radius.
The property is within a 2 mile radius of several national retailers such as McDonald’s, Arby’s, Chipotle, ALDI, Advance Auto Parts, O’Reilly Auto Parts, and more. The subject property is nearby several residential apartments with over 950 units in a 3 mile radius and is directly across from Akron Fulton Airport, servicing more than 686,000 annual passengers. The site has permitted use for the retail sale if commercial trailers, parts, and service..
Watch Property Video: https://vimeo.com/1021049812?share=copy
Property Facts
| Price | $3,750,000 | Lot Size | 6.20 AC |
| Price Per SF | $379 | Rentable Building Area | 9,904 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 8% | Year Built | 2001 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $3,750,000 |
| Price Per SF | $379 |
| Sale Type | Investment NNN |
| Cap Rate | 8% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 6.20 AC |
| Rentable Building Area | 9,904 SF |
| No. Stories | 1 |
| Year Built | 2001 |
| Tenancy | Single |
| Opportunity Zone |
Yes |
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Majestic Trailer & Hitch
- -
-
99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Majestic Trailer & Hitch | - | 99,999 SF | - | Lorem Ipsum | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $103,783 | |
| Land Assessment | $48,106 | Total Assessment | $151,889 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$48,106
Improvements Assessment
$103,783
Total Assessment
$151,889
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STNL Industrial Outdoor Storage | 1750 E Waterloo Rd
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