3352 Kent Rd, Stow, OH 44224-4537
- Retail space
- 10,125 SF
- 1.10 lot acres
Current Use by Public Records
- Retail space
Property Details for 3352 Kent Rd
- Year built
- 1998
- Lot size
- 1.10 lot acres
- Property type
- Retail space
- APN
- 56-16931
- APU
- 5616931
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 11, 2020 | — | Ohio Edison Co | Wec 98h-33 LLC | Grant Deed · related | — |
| Jun 17, 2020 | — | Caplease Cdo 2005-1 | — | Deed · related | $249.8M · Wells Fargo Bk/nw |
| Jan 12, 1999 | $2,850,000 | Wec 98h-33 LLC | Revo Discount Drug Centers INC | Grant Deed | $2.8M · Manufacturers & Trdrs Trt Ttee |
| — | — | Caplease Cdo 2005-1 | — | Deed Of Trust · related | $249.8M · Wells Fargo Bk/nw |
Description
This exceptional investment opportunity presents a 9,876-square-foot CVS Pharmacy situated on a 1.1-acre lot at 3352 Kent Rd, Stow, OH 44224. The property boasts a strong 6.25% cap rate, generating a net operating income (NOI) of $212,000. Built in 1998, this single-building property benefits from a 10-year absolute NNN lease with a corporate guarantee from Walgreens, CVS Pharmacy, commencing December 1, 2024. The lease includes flat rent bumps, providing predictable income growth. Six, five-year lease options further enhance the long-term value. The property enjoys a highly visible hard corner location on Kent Road and Darrow Road, experiencing 32,000 vehicles per day. This location is strategically positioned within a thriving retail corridor, neighboring major retailers such as Target, Meijer, T.J. Maxx, Aldi, Kohl's, Hobby Lobby, Chipotle, and O'Reilly's. The surrounding area demonstrates strong demographics, with an average household income exceeding $89,233 within a three-mile radius and a significant population aged 65 and older. CVS's BBB credit rating from S&P underscores the tenant's financial stability and commitment to the location, evidenced by their recent 10-year lease extension. This is a rare opportunity to acquire a high-performing, low-risk retail investment with significant long-term potential. The asking price is $3,392,001. 100% occupancy ensures immediate cash flow.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Stow
- County
- Summit
- State
- Ohio
- Longitude
- -81.4408
- Latitude
- 41.1589
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
