Current Use by Public Records
- Retail properties & Spaces
Property Details for 301 High St
- Year built
- 2013
- Lot size
- 0.93 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 6,798 square foot Anytime Fitness storefront located at 301 High St, Orrville, OH 44667. The property boasts a strong 7.75% cap rate, generating a net operating income (NOI) of $105,600. Built in 2013, this well-maintained building sits on a 0.933-acre lot and benefits from a highly visible location on a major thoroughfare with over 7,300 vehicles passing daily. The property is subject to a long-term, absolute net lease (NNN) with 13 years remaining on the primary 15-year term (commencing July 1, 2022, and expiring September 30, 2037), offering significant lease stability. The lease includes attractive rental escalations, featuring a rare 15% increase every five years, further enhancing the investment's long-term value. The tenant is responsible for all property taxes, insurance, common area maintenance (CAM), and building maintenance, minimizing landlord responsibilities. Two five-year lease options are also included, providing additional security and potential for future growth. This is a rare opportunity to acquire a high-performing, nationally recognized franchise in a prime location with substantial long-term income potential. The property's strong tenant, favorable lease terms, and strategic location make it an ideal addition to any diversified investment portfolio.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Orrville
- County
- Wayne
- State
- Ohio
- Longitude
- -81.7673
- Latitude
- 40.8439
