1799 Portage Rd Wooster, OH 44691-1903
Property Lookup
Property profile & analytics
1799 Portage Rd Wooster, OH 44691-1903
- Community centers
- 104,013 SF
- 12.54 lot acres
Property ID
US66-1668811
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Marc's Pharmacy / Pharmacy
- Marc's / Grocery & Convenience Store / Food Market
- Sears Appliance Repair / Home Appliance Store
- LibertyX Bitcoin ATM / Atm
- MoneyGram / Bank / Credit Union
Property Details for 1799 Portage Rd
- Year built
- 1992
- Lot size
- 12.54 lot acres
- Property size
- 104,013 SF
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- 67-01601-002
- APU
- 6701601002
Description
This exceptional 106,042 square foot, single-story shopping center in Wooster, Ohio, presents a compelling investment opportunity. Boasting a 7.75% cap rate and 100% occupancy across three tenants, this stabilized property offers significant upside potential. The center underwent a complete renovation from 2019-2022, including a new roof, HVAC system, storefronts, exterior paint, and extensive tenant build-outs. The property is anchored by Marc's, a regional discount grocery chain with a strong sales history and a lease extending to July 2029, featuring a scheduled rent increase in August 2024. Additional tenants include Ollie's Bargain Outlet and Harbor Freight Tools, both with long-term leases. The property benefits from a transferable 20-year roof warranty, low replacement costs, and a weighted average lease term of 5.7 years. Situated on a 12.53-acre lot along Portage Road, a high-traffic area, the center enjoys excellent visibility and accessibility. The strong tenant mix, coupled with the significant capital improvements and favorable lease terms, makes this a rare opportunity in a thriving tertiary market with a robust local economy and strong demographics. Wooster serves as the county seat and principal city of the Wooster MSA, boasting a population of 117,000 and a concentration of major retailers and healthcare facilities. The asking price is $8,230,000, representing a price per square foot of $77.61 and a net operating income (NOI) of $637,865. The property's location near the intersection of Portage and Akron Roads, with 15,500 vehicles per day, ensures high visibility and accessibility.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Wooster
- County
- Wayne
- State
- Ohio
- Longitude
- -81.9139
- Latitude
- 40.8274
- CBSA code
- 49300
- CBSA name
- WOOSTER, OH MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$121,757
$346,310
$1,317,580
$1,663,890
-
$989,460
$3,764,520
$4,753,980
