Recently Extended Staples - Walmart and Kohl's Shadowed
For sale to qualified investors is the 100% fee-simple interest in the single tenant, NN-leased Staples in Medina, Ohio. Staples has been the tenant at this location since 1996 and recently showed their commitment to the site by extending the lease for an additional five years. This investment is being offered at an attractive 7.9% cap rate and corresponding price of $3,937,025. The lease is double-net with minimal landlord obligations and is corporately guaranteed by Staples, Inc. The landlord’s only repair and maintenance obligations are roof and structural portions of the building. Staples handles and pays for all day-to-day maintenance. The passive nature of this lease combined with the corporate guaranty make this an ideal 1031 replacement property or acquisition for an investor desiring a passive real estate investment. The property is located on heavily-trafficked State Route 42 (14,280 VPD) in the center of the Medina retail trade area and is surrounded by national retailers including Walmart, Home Depot, Kohl’s, Target, Hobby Lobby, Marshalls, Dollar Tree, McDonald’s, PetSmart, Bed Bath & Beyond, Chipotle, Walgreens, Sherwin-Williams, Applebee’s, Starbucks, Panera Bread, Bob Evans, Tractor Supply, Shoe Carnival, Wendy’s, Pizza Hut, GameStop, Taco Bell, KFC, Ruby Tuesday and others.