5441 Whipple Ave North Canton, OH 44720

Property Details for 5441 Whipple Ave

Lot size

5.89 lot acres

Property size

22,057 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fee-simple ownership of a three-building, four-tenant retail portfolio totaling 22,057 square feet on a 5.89-acre lot in North Canton, Ohio. The property, located at 5441 Whipple Ave NW, 44720, boasts a 100% occupancy rate with a strong tenant lineup including Duluth Trading Company, Freddy's Frozen Custards & Steakburgers, Caribou Coffee, and Farmers National Bank. Built between 2018 and 2022, the portfolio features a mix of single-tenant and multi-tenant buildings, including a new two-tenant strip with drive-thrus. The weighted average lease term (WALT) is 9.5 years, providing long-term stability and minimal management responsibilities. The property benefits from a prime location with high visibility on Whipple Avenue NW, a major thoroughfare with 25,000 vehicles per day, and proximity to I-77 (85,500 VPD). The current Net Operating Income (NOI) is $615,908, representing a 7.50% capitalization rate on the $8,215,000 asking price. Scheduled rent increases will add over $54,000 to the NOI within the first five years. The property's strong tenant mix, long-term leases, and prime location make it an attractive investment opportunity with significant upside potential. The portfolio is situated in the heart of Belden Village, Canton's premier retail trade area, offering excellent demographics and high traffic counts. This is a stabilized investment with no lease rollover until 2032.

Location Insight

City

North Canton

County

Stark

State

Ohio

Longitude

-81.4242

Latitude

40.8609