970 Copley RdAkron, OH 44320

For Sale
$1,248,000

Akron, OH: Strong Net Lease Investment

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 10,645-square-foot Family Dollar storefront in Akron, Ohio, situated on a 1.25-acre lot. Boasting a strong 8.00% cap rate and a substantial net operating income (NOI) of $99,841, this property offers a secure, long-term investment. The property features a 15-year net lease with Family Dollar, commencing October 22, 2014, and expiring December 31, 2029, leaving approximately 5.1 years remaining. The lease includes three, 5-year renewal options with a 10% rent increase in each. Built in 1997 and previously operating as a drugstore, Family Dollar has occupied the site since 2002, demonstrating a long-term commitment to the location. The property enjoys excellent visibility and access, located on a hard corner at the signalized intersection of Copley Road (13,911 vehicles per day) and Storer Avenue (2,721 vehicles per day), less than 3 miles from downtown Akron and 1 mile from I-77 (75,733 vehicles per day). With 39 parking spaces and a built-in customer base of over 7,100 households within a 1-mile radius, this property offers a compelling combination of strong tenant, location, and lease terms. The property includes one building and is 100% occupied. The asking price is $1,248,000.

Highlights

  • Family Dollar net lease investment with $1,248,000 asking price and 8.00% cap rate.
  • 5.1 years remaining on a 15-year lease with three, 5-year renewal options at 10% rent increases each.
  • 10,645 SF building on a 1.25-acre lot with 39 parking spaces, located at a hard corner with high visibility in Akron, OH.
  • Strong tenant history: Family Dollar has occupied the site since 2002, recently exercising a renewal option.
  • Excellent location near downtown Akron, I-77, and surrounded by over 7,100 households within 1 mile.

Property Details for 970 Copley Rd

Property type
Other retail properties, Individual retail properties
Square Feet
10,645 SF
Year Built
1997
Buildings
1
Lot Size (sq. ft)
54,450 SF

Location Insight

City
Akron
County
Summit
State
Ohio
Latitude
41.0846627
Longitude
-81.5568533
970 Copley Rd, Akron, Ohio

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970 Copley Rd
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