4050 Tuscarawas St Canton, OH 44710

This 207,131 square foot shopping center in Canton, Ohio presents a compelling value-add opportunity. Boasting a strong 90% occupancy rate and 12 tenants, including a JCPenney, Five Below, Rainbow, Hibbett Sports, and Chipotle, the property generates a substantial NOI of $610,515, representing an 8.26% cap rate. Built in 1965 and renovated in 2005, the center sits on 16.24 acres of land, offering significant redevelopment potential. The 150,000 square foot JCPenney building presents a unique opportunity for repositioning, with potential uses including senior housing, medical facilities, or additional retail. The existing junior box and small-shop retail space is 74% leased, with opportunities to increase NOI through lease-up of vacant spaces. The property benefits from a prime location at a major intersection with high traffic volume, adjacent to other successful businesses, and within a densely populated area. The large parking lot offers potential for outparcel development. The asking price is $7,390,000 ($35.68/sq ft). The property's location in a high-traffic area, shadowed by a Walmart Supercenter, and its significant redevelopment potential make it an attractive investment. The current NOI, coupled with the potential for lease-up and redevelopment, offers substantial upside. The property's strong tenant mix and location within a well-established retail corridor further enhance its appeal. The 14 units are spread across a mix of retail spaces, providing diversity and stability. This is a rare opportunity to acquire a well-located, high-potential shopping center in a thriving market.