4918 Whipple AveCanton, OH 44718

For Sale
$3,135,000

100% Occupied Shopping Center, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents Whipple Bradley Plaza, a 20,751 square foot, single-story shopping center in Canton, Ohio's premier Belden Village retail area. Boasting 100% occupancy across seven units, the property generates a strong net operating income (NOI) of $250,915, resulting in an attractive 8.00% capitalization rate. The center benefits from a diverse tenant mix, including a newly signed 7-year lease with a medical imaging center occupying a 4,300 square foot endcap space. Major tenants, such as a U.S. Armed Forces Career Center and a health & fitness retailer, contribute significantly to the property's stability, with leases extending into 2026 and 2027, respectively. Below-market rents averaging $13.37 per square foot all-in offer significant upside potential. Built in 1999 on a 1.61-acre lot, the property enjoys excellent visibility and accessibility, situated less than 400 feet from a major intersection with high daily vehicle traffic (42,320 VPD) and close proximity to I-77 (85,500 VPD). Its location near the Pacific Retail-owned Belden Village Mall and other major retailers further enhances its desirability. The property's strong demographics, including a high average household income within a 3-5 mile radius, contribute to its consistent performance. This well-managed asset, with the potential for self-management to increase the cap rate, presents a compelling investment opportunity in a thriving retail market. The asking price is $3,135,000.

Highlights

  • 100% occupied, 20,751 SF neighborhood shopping center in Canton, OH's top retail area, Belden Village.
  • Prime Belden Village location with 7.2M SF of retail space, 98% leased.
  • New 7-year lease with medical imaging center in a 4,300 SF endcap space ($16/SF NNN).
  • Annual rent increases of $1/SF in 2025, 2026, and 2029.
  • Below-market rents averaging $13.37/SF all-in, offering significant upside.
  • Major tenants (U.S. Armed Forces Career Center and health & fitness retailer) with leases extending into 2027 and 2026, respectively.

Property Details for 4918 Whipple Ave

Property type
Lifestyle centers, Power centers
Square Feet
20,751 SF
Year Built
1999
Buildings
1
Stories
1
Lot Size (sq. ft)
70,132 SF
Units
7

Location Insight

City
Canton
County
Stark
State
Ohio
Latitude
40.853252418761
Longitude
-81.422785623186
4918 Whipple Ave, Canton, Ohio

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4918 Whipple Ave
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