970 Copley Rd Akron, OH 44320
- Retail properties
- 10,781 SF
- 1.25 lot acres
Current Use by Public Records
- Family Dollar / Dollar Store / Clothing Store
Property Details for 970 Copley Rd
- Year built
- 1997
- Lot size
- 1.25 lot acres
- Property size
- 10,781 SF
- Property type
- Retail properties
- APN
- 67-60650
- APU
- 6760650
Description
This exceptional investment opportunity presents a 10,645-square-foot Family Dollar storefront in Akron, Ohio, situated on a 1.25-acre lot. Boasting a strong 8.00% cap rate and a substantial net operating income (NOI) of $99,841, this property offers a secure, long-term investment. The property features a 15-year net lease with Family Dollar, commencing October 22, 2014, and expiring December 31, 2029, leaving approximately 5.1 years remaining. The lease includes three, 5-year renewal options with a 10% rent increase in each. Built in 1997 and previously operating as a drugstore, Family Dollar has occupied the site since 2002, demonstrating a long-term commitment to the location. The property enjoys excellent visibility and access, located on a hard corner at the signalized intersection of Copley Road (13,911 vehicles per day) and Storer Avenue (2,721 vehicles per day), less than 3 miles from downtown Akron and 1 mile from I-77 (75,733 vehicles per day). With 39 parking spaces and a built-in customer base of over 7,100 households within a 1-mile radius, this property offers a compelling combination of strong tenant, location, and lease terms. The property includes one building and is 100% occupied. The asking price is $1,248,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Akron
- County
- Summit
- State
- Ohio
- Longitude
- -81.5569
- Latitude
- 41.0846
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
