NNN Pier 1 Imports - A+ Site on Lowe's Outparcel
For sale to qualified investors is the fee-simple interest in a prominently positioned,freestanding Pier 1 Imports located in Sandusky, Ohio. The 8,995-square-foot building sits on 1.13 acres at the signalized entrance to Lowe’s and Walmart. Located just one block from the route 2 highway interchange, this signalized, hard-corner property is one of, if not the most desirable outparcel in the entire Sandusky marketplace. Pier 1 signed their lease in 1998 and currently has 4 years remaining on their last extension from 2018. At a current rental rate of only $13 per square foot, the investment offers tremendous intrinsic value. Additionally, because Pier 1 signed a triple net lease including responsibility for roof and structure, the property is hands off to the investor. The property is an ideal hold whether Pier 1 stays long term or as a re-tenant opportunity. The area is a thriving regional marketplace comprised of retail, water parks and Cedar Point Amusement Park, fishing charters and other tourism, hotels, highway interchange traffic, and more. Some of the surrounding retailers include Walmart, Sam’s Club, Lowe’s, Menards, Kohl’s, Home Depot, Meijer, Target, Dick’s, T JMaxx, Regal Cinemas, McDonald’s, Chipotle, Five Guys, Wendy’s, Aldi, Taco Bell, KFC, Starbucks, Arby’s, Panera, and many, many more.