Jared - Toledo, OH
5011 Monroe Street, Toledo, OH, 43623, US
€1,660,000 | 484 m²
Asset Description
OPEN-AIR RETAIL CENTER IN CLEVELAND MSA
Property Location:
CENTER RIDGE ROAD, FAIRVIEW PARK, OH 44126
Property Size:
311,440 SF
Land Size:
25.90 ACRES
Parking Spots:
2,139
Ingress/Egress Points:
5
Year Built:
2007
Buildings:
8
Tenant Suites:
49
Occupancy:
97.2%
Year 1 NOI:
+/- $4,400,000
...
Attributes
Tenants
Lowe's, Target, Marshalls, Kohl's, Ulta Beauty, J.CREW, petco, Bally House
Media
Investment Highlights
OUTSTANDING LEASING MOMENTUM OVER THE PAST THREE YEARS
- 17 New Leases Across +80,000 SF I 13 Recent Renewals Across +50,000 SF
IDEAL INCOME DIVERSIFICATION
- Highly Diversified Shop Space (sub 10,000 sf) I 43 E-Commerce Resilient Tenants
- No Shop Space Tenant Attributes More Than 5% of Income
MULTIPLE VALUE CREATION OPPORTUNTIES
- Separately Parceled Applebee’s and Kohl’s
- Existing Vacancy Allows for Immediate NOI Upside
- Significantly Below Market Applebee’s Outparcel
- Ability to Convert Jr. Anchor to NNN Upon Rollover
- 25% of Shop Space Does Not Have Fixed Rate Renewal Options
STRONG SALES PRODUCTIVITY
- Average Weighted Occupancy Cost is 8.00%
- Average Sales PSF (tenants under 5,000 sf) are Greater than $400/sf
RECENT CAPITAL UPGRADES
- Total Investment by Ownership over Past Three Years Exceeds $2M
OH Licensee:
Bill Poffenberger
License #: OH-352247
513.252.2107
Contact brokers
Westgate Shopping Center (0 Properties)
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Last updated
4 Apr 2025
