WellNow Urgent Care | 472 E Waterloo Rd
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WellNow Urgent Care 472 E Waterloo Rd
3,400 SF Retail Building Akron, OH 44319 $2,452,000 ($721/SF) 6.15% Cap Rate
Investment Highlights
- Long-term net lease to WellNow Urgent Care, a rapidly expanding healthcare tenant
- WellNow’s growth-focused model has positioned the company as one of the fastest-growing providers of quality urgent care & telehealth,
- The company has continued to grow rapidly through the opening of new facilities, strategic acquisitions
- 8% rental increases every five (5) years in primary term and option periods, providing a passive long term income generator
- WellNow operates more than 200 centers across New York, Illinois, Indiana, Ohio, Michigan, Pennsylvania, and Wisconsin
Executive Summary
This WellNow Urgent Care has a high visibility and easily accessible location at the signalized hard-corner of East Waterloo Road and Hibernian Way, with access to 24,768 vehicles per day directly in front of the site.
The site is located near the intersection of Interstates 77 & 277, which experience a combined 184,654 AADT less than one-half mile southeast of the property.
The location is a direct outparcel to a Giant Eagle Supermarket and shadow-anchored by South Plaza Shopping Center, a market dominant shopping center anchored by Marc’s and Big Lots that experiences 1.2 million annual visits.
This site is located just three miles from The University of Akron with easy access from Interstate 77, significantly increasing foot-traffic and visibility to the site (25,177 students, 5,257 employees).
The property benefits greatly from residing at the entry to Firestone Park, a historic landmark community in Akron with a population of 13,872.
The site is located near the intersection of Interstates 77 & 277, which experience a combined 184,654 AADT less than one-half mile southeast of the property.
The location is a direct outparcel to a Giant Eagle Supermarket and shadow-anchored by South Plaza Shopping Center, a market dominant shopping center anchored by Marc’s and Big Lots that experiences 1.2 million annual visits.
This site is located just three miles from The University of Akron with easy access from Interstate 77, significantly increasing foot-traffic and visibility to the site (25,177 students, 5,257 employees).
The property benefits greatly from residing at the entry to Firestone Park, a historic landmark community in Akron with a population of 13,872.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
3,400 SF
Building Class
B
Year Built
2022
Price
$2,452,000
Price Per SF
$721
Cap Rate
6.15%
NOI
$150,785
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Land Acres
0.31 AC
Zoning
C-Commercial
Parking
39 Spaces (11.47 Spaces per 1,000 SF Leased)
Frontage
215 FT on East Waterloo Road
Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 68-62226 | Improvements Assessment | $279,559 |
| Land Assessment | $27,916 | Total Assessment | $307,475 |
PROPERTY TAXES
Parcel Number
68-62226
Land Assessment
$27,916
Improvements Assessment
$279,559
Total Assessment
$307,475
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Power Broker Vincent Aicale -
Power Broker Ryan Forsyth -
Power Broker Michael Yuras -
Power Broker Scott Crowle -
Cushman & Wakefield
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WellNow Urgent Care | 472 E Waterloo Rd
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