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Portage Crossings 1799 Portage Rd

106,042 SF 100% Leased Retail Building Wooster, OH 44691 $11,665,778 CAD ($110 CAD/SF) 7.75% Cap Rate

Retail Buildings Ohio Wooster 1799 Portage Rd, Wooster, OH 44691

Investment Highlights

  • 100% Occupied, 106,042 SF 3-Tenant Grocery-Anchored Community Shopping Center in Wooster, OH
  • Seller has Invested Over $3 Million in CapEx Including New Roof, All-New HVAC, Storefronts, Exterior Paint & Extensive New Built-Outs
  • Marc’s has Upcoming 7% Rent Increase in August 2024 (+$0.50/SF, +$25,096 Annually)
  • Complete Renovation from 2019-2022 with All-New Leases, Build-outs & Extensive Capital Improvements
  • Anchored by Marc’s (47.3% of GLA) on NNN Lease thru July 2029; 2022 Sales Exceeded Percentage Rent Breakpoint – Contact Agent for Details
  • Ollie’s Bargain Outlet (37% of GLA) – Leased thru March 2028; Reports Strong Sales with Low 6.4% Rent-to-Sales Ratio

Financial Summary (Actual - 2022) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2022) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual -
Annual Per SF -
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
106,042 SF
Building Class
C
Year Built
1972
Price
$11,665,778 CAD
Price Per SF
$110 CAD
Cap Rate
7.75%
NOI
$904,154 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
12.53 AC
Zoning
C-3
Parking
602 Spaces (5.68 Spaces per 1,000 SF Leased)
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Nearby Major Retailers

Marc's
Planet Fitness
ALDI
Rent-A-Center

PROPERTY TAXES

Parcel Number 67-01601-002 Improvements Assessment $1,853,044 CAD (2023)
Land Assessment $487,050 CAD (2023) Total Assessment $2,340,095 CAD (2023)

PROPERTY TAXES

Parcel Number
67-01601-002
Land Assessment
$487,050 CAD (2023)
Improvements Assessment
$1,853,044 CAD (2023)
Total Assessment
$2,340,095 CAD (2023)
(216) 264-2000

Contacts

  • Listing ID: 29771772

  • Date on Market: 2023-10-12

  • Last Updated:

  • Address: 1799 Portage Rd, Wooster, OH 44691

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Portage Crossings | 1799 Portage Rd
(216) 264-2000 x

Portage Crossings | 1799 Portage Rd

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Scott Wiles

(216) 264-2000

(216) 264-2000

Craig Fuller

(216) 264-2043

(216) 264-2043

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