499 S 2nd St | Coshocton, OH 43812
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499 S 2nd St
Coshocton, OH 43812
Downtowner Plaza · Retail Property For Sale
Investment Highlights
- +/-254,980-square-foot shopping center anchored by Tractor Supply Company and Big Lots
- Significant value-add through lease up of +/-73,904 existing square feet, vacant former Long John Silver’s drive-thru, and new pad developments
- The property serves as the main commercial hub for the entire Coshocton County and is the largest shopping center within a +/-25-mile radius
- National and regional tenants account for 74% of the existing tenancy and 72% of the rental income.
- Sale includes single-tenant Hardee’s and Advance Auto Parts, along with +/-4.00 acres of land for new development
- Located along Ohio State Route 16 (OH-16) connecting I-77 to Columbus
Executive Summary
Downtowner Plaza is a +/-254,980-rentable-square-foot, multi-building shopping center located at 499 S. 2nd Street in Coshocton Ohio. Constructed in 1968, and renovated in 1991, the center is comprised of one (1) single story inline shopping center building, four (4) single-story inline multitenant retail strip buildings, three (3) single-tenant retail buildings, and approximately four (4.00) acres of vacant land for new development. In total, the entire property is made up of 31 retail units ranging in size from 45,128 to 700 square feet. There are a total of 15 units available for lease, totaling +/- 73,904 rentable square feet. Currently 71% occupied, 34 units are occupied by established national, retail, and local companies, such as Tractor Supply, Big Lots, Rent-A-Center, Advance Auto, Hardee’s, Subway, Interim Healthcare, Edward Jones, H&R Block, and many more.
The site offers ample parking, with +/-1,200 parking spaces at a ratio of +/-4.71 spaces per 1,000 square feet. The property is positioned with approximately 1,000 feet of frontage on the west side of South 2nd Street and about 300 feet of frontage on the south side of Mulberry Street. It is located just a half-mile from the OH-16 interchange; OH-16 is the main corridor connecting Columbus to I-77, which runs from Cleveland, Ohio to Columbia, South Carolina. Lastly, the property is located approximately 63 miles north east of Columbus and 100 miles west of Pittsburgh.
The site offers ample parking, with +/-1,200 parking spaces at a ratio of +/-4.71 spaces per 1,000 square feet. The property is positioned with approximately 1,000 feet of frontage on the west side of South 2nd Street and about 300 feet of frontage on the south side of Mulberry Street. It is located just a half-mile from the OH-16 interchange; OH-16 is the main corridor connecting Columbus to I-77, which runs from Cleveland, Ohio to Columbia, South Carolina. Lastly, the property is located approximately 63 miles north east of Columbus and 100 miles west of Pittsburgh.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
254,980 SF
Building Class
B
Year Built/Renovated
1968/1991
Price
$13,950,000
Price Per SF
$55
Cap Rate
10.56%
NOI
$1,473,464
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
23.00 AC
Zoning
C - Shopping Center
Parking
1,200 Spaces (4.71 Spaces per 1,000 SF Leased)
Frontage
953 FT on Vine St
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 04300-000-050-00 | Improvements Assessment | $1,873,655 |
| Land Assessment | $609,840 | Total Assessment | $2,483,495 |
PROPERTY TAXES
Parcel Number
04300-000-050-00
Land Assessment
$609,840
Improvements Assessment
$1,873,655
Total Assessment
$2,483,495
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