1750 Waterloo Rd Akron, OH 44306-4104

This Akron, Ohio warehouse offers a compelling investment opportunity. The property, totaling 9,904 square feet on a 6.2-acre lot, is currently 100% occupied by Majestic Trailer & Hitch under a new 10-year absolute NNN lease commencing September 17, 2024, and expiring October 1, 2034, with two 5-year renewal options and 2% annual rent increases. The lease provides a strong personal guaranty exceeding $8.5 million in net worth. The property boasts a 7.50% cap rate and a $300,000 annual net operating income (NOI). Built in 2001, the property includes two buildings and benefits from excellent visibility and frontage on E Waterloo Rd (32,580 vehicles per day), less than a mile from I-77 (116,793 VPD). The tenant historically generates $7-8 million in annual revenue. A 2022 environmental site assessment and property condition report are available. The property's location offers affluent demographics, with an average household income exceeding $75,000 within a one-mile radius and a population exceeding 148,000 within a five-mile radius. The site is permitted for the retail sale of commercial trailers, parts, and service, and is near numerous national retailers and residential apartments. The asking price is $4,000,000, representing a land value of $14.81 per square foot. The tenant is completing a $3.8 million debt payoff in 2024, resulting in an anticipated annual operating expense reduction of approximately $300,000.