2200 June Pkwy, Zanesville, OH 43701
- Grocery and convenience stores
- 54,300 SF
- 7.47 lot acres
Current Use by Public Records
- MoneyGram / Bank / Credit Union
- State Liquor Agency / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
- Riesbecks / Specialty Food Shop / Supermarket
- Riesbeck's Pharmacy / Pharmacy
- Diane Fordyce / Pharmacy
Property Details for 2200 June Pkwy
- Year built
- 2001
- Lot size
- 7.47 lot acres
- Property type
- Grocery and convenience stores
- APN
- 62-56-02-03-002
- APU
- 62560203002
Description
This exceptional investment opportunity presents a 54,308 sq ft grocery store and pharmacy in Zanesville, Ohio. Located on a 7.47-acre lot at a signalized intersection with high visibility and traffic (approx. 35,000 vehicles per day), the property boasts a strong location within a thriving community. The property is 100% occupied by Riesbeck's Food Market, backed by Associated Wholesale Grocers (AWG), the largest cooperative food wholesaler in the US, with an absolute NNN lease commencing September 30, 2013, and expiring September 29, 2033, with four 5-year extension options. The asking price is $6,960,000, representing a 7.80% cap rate and a price per square foot of $128.16. The property features a substantial net operating income (NOI) of $543,000. Built in 2000/2001, this build-to-suit location benefits from a strong tenant with a proven track record of success, showing a 30% sales growth since 2019 and a 6% year-over-year increase. The property is surrounded by complementary businesses, including a BMV, Zane Plaza Shopping Center, Sheetz, and Huntington Bank, and is situated near major employers such as Genesis Hospital (2,800 employees), Halliburton (560 employees), Bimbo Bakery (450 employees), and numerous other significant businesses. Zanesville's strong economy, coupled with the tenant's performance and lease terms, makes this a compelling investment opportunity. The property's location within the Columbus MSA (2.51 million population) further enhances its appeal. The area offers a diverse workforce, with major employers in healthcare, education, manufacturing, and retail. The city's rich history and vibrant growth contribute to a positive economic outlook.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $5,870,000
- 6.5%
- $5,415,000
- 7%
- $5,030,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,192,000
- AI Estimate
- $5,894,000
Market price range: $2.11M - $6.19MMarket price range: $1.33M - $5.89M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,030,000 Current use
- AUTO REPAIR, GARAGE
- $5,880,000 Change: +46% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $5,000,000 Change: +24% Conversion: Difficult
- OFFICE BUILDING
- $4,870,000 Change: +21% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Zanesville
- County
- Muskingum
- State
- Ohio
- Longitude
- -82.0153
- Latitude
- 39.9083
- CBSA code
- 49780
- CBSA name
- ZANESVILLE, OH MICROPOLITAN STATISTICAL AREA
