Property Picture

Price: $3,630,000
Property Type: Retail
Status: Available
Address: 1229 S. Main Street
                  Bryan, OH  43506
CAP Rate: 8%
Square Feet: 27,956
Tenancy Type: Mixed
Lease Type: NNN

Short Description:
The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the Walmart Plaza, a Walmart Supercenter shadow anchored retail center in the heart of Bryan, Ohio. The 27,956 S.F. retail center is being offered for $3,630,000, representing an 8.00% CAP Rate and high 13.98% projected year-1 cash-on-cash return. The 94% occupied center has all tenants on NNN lease structures and consists of 77% nationally recognized names such as Dollar Tree (NASDAQ: DLTR), Shoe Sensation, GameStop (NYSE: GME), Regis Corp. backed First Choice Haircutters (NYSE: RGS), Cricket Wireless and Verizon Wireless.

Most of the tenants have been located at the center for many years and have consistently renewed, proving their commitment to the location and market. In fact, over 70% of the space in the center has had new leases executions or extensions within the last year and all but one of those were tenant renewals. Considering all of the tenants have expirations beyond the year 2020, the center has minimal near term lease rollover and also offers additional future income potential with the extra buildable land that is included with the offering. The center also benefits from major shadow retailers, Walmart Supercenter, McDonald’s, Monroe Muffler and Brake Tim Horton’s, AutoZone, and Sonic. The retail corridor draws from a 20-25 mile radius being that the next closest Walmart store to the north and west are situated approximately 30 miles away. Walmart Plaza is positioned along Main Street, also known as US-127 that runs north and south through the entire city and connects with I-90 to the north and Route 6, just south of the center. The center is located in the most northwestern county in Ohio, Williams County, which serves as the county seat, making it a tri-state area being located with close proximity to both, the Michigan and Indiana lines. The featured center is located in the business corridor, less than 1.5 miles to all of the area’s major employers, including Williams County, headquarter to Spangler Candy Company (creator of Dum-Dum suckers, candy canes, lollipops, circus peanuts and many more), Johnson Controls, Ohio Art Company, Titan Tire Corporation, Nostrum Laboratories and the Bryan Hospital (113 beds) which support the variety of tenants at the center. With the building’s desirable location and inviting appearance, the asset is positioned to be a solid investment well into the future.

    Full Offering Memorandum