1897 Cooper Foster Park Rd Amherst, OH 44001-1206
- Retail space
- 2,124 SF
- 0.64 lot acres
Current Use by Public Records
- Retail space
Property Details for 1897 Cooper Foster Park Rd
- Year built
- 1975
- Lot size
- 0.64 lot acres
- Property size
- 2,124 SF
- Property type
- Retail space
- APN
- 05-00-041-110-044
- APU
- 500041110044
Description
This exceptional investment opportunity presents a 2,124-square-foot warehouse located at 1897 Cooper Foster Park Rd, Amherst, OH 44001. The property, built in 1980, boasts a strong 6.14% cap rate and a Net Net lease structure with a creditworthy tenant, Airgas. Airgas, a major U.S. supplier of gases, safety products, and process-based chemicals with over 1,400 locations, has occupied the space since June 2018. They recently executed a five-year lease renewal in June 2023, demonstrating a long-term commitment to the location. The lease includes one remaining five-year option. The property enjoys a prime location within Amherst's main retail corridor, benefiting from high visibility at the signalized intersection of Cooper Foster Park Road (approximately 13,600 vehicles per day) and Williamsburg Drive. Nearby prominent retailers include Tractor Supply, Meijer, Chick-fil-A, Raising Cane's, Arby's, and Aldi. The asking price is $530,000, with a current Net Operating Income (NOI) of $32,534. The remaining lease term is approximately 3.8 years. This is a rare chance to acquire a stable, income-producing asset in a thriving retail area. The property's history as a former bank branch adds to its unique appeal.
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
- Amherst
- County
- Lorain
- State
- Ohio
- Longitude
- -82.1998
- Latitude
- 41.4178
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
