Family Dollar 970 Copley Rd 10,645 SF Retail Building Akron, OH 44320 $1,248,000 ($117.24/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Premier Discount Brand | Tenant is a Wholly Owned Subsidiary of Family Dollar Stores, LLC
- Long-Term Operating History
- Highly Residential Area with over 7,100 Households Within 1 Mile | Substantial Built-In Customer Base
- Recently-Extended Lease with Renewal Options | 10% Increases in Each of the Three, 5-Year Renewal Options
- Hard Corner Site with Excellent Access & Visibility
- Less Than 3 Miles from Downtown Akron
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the 10,645-square-foot Family Dollar asset situated on 1.25 acres in Akron, Ohio (MSA Population: 647,418). Family Dollar recently exercised its first renewal option, extending the lease through 2029. Family Dollar’s net lease now features ±4.9 years of term remaining with a 10% rent increase in each of the three remaining 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,645 SF
Building Class
B
Year Built
1997
Price
$1,248,000
Price Per SF
$117.24
Cap Rate
8%
NOI
$99,841
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.25 AC
Parking
39 Spaces (3.66 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 67-60650 | Improvements Assessment | $434,063 |
| Land Assessment | $43,313 | Total Assessment | $477,376 |
