Absolute NNN Furniture
7450 Timberstone Dr, Findlay, OH 45840
For Sale
Contact for pricing
Ashley HomeStore occupies the showroom under an absolute NNN lease with scheduled annual rent adjustments and renewal options.
Property Size39,870 SF
Lot Size2.40 Acres
Price / SF$97.07
Days on Market29
Property Features for 7450 Timberstone Dr
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Cushman & Wakefield - Phoenix, Arizona
Listed By:
Chris Hollenbeck · License OH SA584876000
(602) 538-7155
Source:
Crexi
Added: Oct 14
Changed: Nov 10
Last Checked: Nov 10 at 8:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Phoenix, Arizona
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Investment Insights
Based on property information with market context.
Built in 2004, the approximately 39,870-square-foot showroom sits on about 2.40 acres and is occupied by Ashley HomeStore. The absolute NNN lease is with The Dufresne Spencer Group, LLC, doing business as Ashley HomeStore, and is guaranteed by Dufresne Spencer Group Holdings, LLC. The lease runs through March 31, 2034, and provides four five-year renewal options. Beginning April 1, 2027, annual rent adjustments are based on the lesser of 1.375% or 1.25 times CPI.
The property is at 7450 Timberstone Drive in Findlay, along the Interstate 75 corridor between Toledo and Dayton. Nearby national retailers include Walmart, Kohl’s, PetSmart, Meijer, Menards, and Chipotle. The site is within Findlay’s retail corridor, with regional connections to population centers including Detroit, Columbus, Cleveland, Indianapolis, and Cincinnati.
The property is at 7450 Timberstone Drive in Findlay, along the Interstate 75 corridor between Toledo and Dayton. Nearby national retailers include Walmart, Kohl’s, PetSmart, Meijer, Menards, and Chipotle. The site is within Findlay’s retail corridor, with regional connections to population centers including Detroit, Columbus, Cleveland, Indianapolis, and Cincinnati.
Key Highlights
- Approximately 39,870‑square‑foot showroom on about 2.40 acres
- Built in 2004 and occupied by Ashley HomeStore since March 31, 2022
- Absolute NNN lease expires March 31, 2034, with four five‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,230
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,164,600
$3.2M
Cap Rate 7%
$2,260,429
$2.3M
Cap Rate 9%
$1,758,111
$1.8M
Market Conditions
NOI Build-Up for 39,870 SF
Gross rent
$234.4K $5.88/SF
− Vacancy
−$8.4K −$0.21/SF
EGI
$226.0K $5.67/SF
− OpEx
−$67.8K −$1.70/SF
NOI
$158.2K $3.97/SF
Area
Hancock County, OH
Vacancy
3.58%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,164,600
Cap Rate 7%
$2,260,429
Cap Rate 9%
$1,758,111
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,230 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.12M
$9.73M – $12.97M
NOI $778,464 @ 7.0% cap · market cap 20.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
586k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 23%
Groceries 18%
Apparel 17%
Superstores 17%
Walmart
Superstores
97,017 visits/mo
0.2 miles
Meijer
Groceries
71,228 visits/mo
0.2 miles
Kohl's
Apparel
53,758 visits/mo
0.1 miles
T.J. Maxx
Apparel
44,070 visits/mo
0.1 miles
Menards
Home Improvements & Furnishings
40,206 visits/mo
0.4 miles
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - Ashley HomeStore occupies the showroom under an absolute NNN lease with scheduled annual rent adjustments and renewal options.
Where is this nnn property located?
The property is located at 7450 Timberstone Dr Findlay, OH.
What is the asking price?
The asking price for this property is $3,870,112.
What are key features of this property?
This property features: Approximately 39,870‑square‑foot showroom on about 2.40 acres; Built in 2004 and occupied by Ashley HomeStore since March 31, 2022; Absolute NNN lease expires March 31, 2034, with four five‑year renewal options
