100% Leased Marshalls Strip
For sale is the 100% leased, fee simple interest in Mount Vernon Plaza, a 44,988 square foot shopping center anchored by Marshalls and featuring Shoe Carnival, Maurices, rue21 and Buffalo Wild Wings, in Mount Vernon, Ohio. This property is being offered to qualified investors at an attractive cap rate of 7.35%, providing a strong investment with long-term national credit tenants. In addition to providing an investor with a long-term stable return on investment, the asset is being conveyed with a buildable pad site with tenants in hand. Rarely seen with this type of investment, a buyer will be able to immediately capitalize on constructing this multi-tenant building. While the property has been a retail center for years, it was recently (2016/2017) completely remodeled (including new roof, facades, etc.) to include the newest prototypes for its tenants. Mount Vernon Nazarene University (2,200 students) and the majority of the city’s residents are located west of the retail trade area, rendering Mount Vernon Plaza the gateway for residents and students as they first enter the retail corridor. The shopping center is situated along Coshocton Avenue (U.S. Route 36) with over 20,000 vehicles per day. It is surrounded by other national and regional retailers including Walmart, Lowe’s Home Improvement, Kroger, Tractor Supply, AutoZone, Advance Auto Parts, O’Reilly Auto Parts, ALDI, CVS, Chipotle, Starbucks, Dollar Tree, Bob Evans, Panera Bread, Verizon, McDonald’s, Tim Hortons, Taco Bell, Arby’s, Subway, Staples and many more.