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Save-A-Lot

161 Center Street, Ashland, Ohio
  • Agent(s):
    Kyle Hartung
  • Name:
    Save-A-Lot
  • Address:
    161 Center Street, Ashland, Ohio
  • Total SF:
    22,102
  • Lot Sizes:
    1.48 Acres
  • Option:
    For sale
  • Category:
    Investment Sales Sold

Details

For sale to qualified investors is the 100% fee-simple interest in the freestanding, single-tenant, Save-a-lot grocery store located in Ashland, Ohio.  A tenant since 1997, Save-a-lot has continually renewed this lease and has one more five-year option remaining.  With roughly 4 years of guaranteed lease term remaining and a strong tenant-history in the property, this investment is being offered at an attractive 9.1% cap rate, resulting in a price of $1,205,000.  The property is NN-leased to Moran Foods LLC, the parent of Save-a-lot, and features a new roof from 2012.  Additionally, Save-a-lot pays their own insurance and is responsible for their own common area maintenance, making this a hands-off asset for the investor.  The property is located in the center of downtown Ashland just blocks from Ashland University, which has over 2,400 undergraduate students.  Other retail tenants in the area include Walmart, Home Depot, Walgreen’s Starbucks, Verizon, Shoe Department and others.

Location