4 Newark Rd Mount Vernon, OH 43050-4113
- Retail space
- 1,941 SF
- 0.18 lot acres
Current Use by Public Records
- Retail space
Property Details for 4 Newark Rd
- Year built
- 1970
- Lot size
- 0.18 lot acres
- Property size
- 1,941 SF
- Property type
- Retail space
- APN
- 66-07614.000
- APU
- 6607614000
Description
This exceptional retail opportunity presents a 10,967-square-foot former Rite Aid building situated on a 1.07-acre lot in Mount Vernon, Ohio. Currently vacant, the property is available for sale at $1,975,000 ($180.09/sq ft) and is being offered as an owner-user investment. Built in 1986 and renovated in 2015, the building enjoys a highly visible hard corner location on Newark Road, boasting three convenient access points. This prime location benefits from exceptionally high traffic volume, averaging over 27,000 cars daily. The surrounding area is densely populated, with over 20,000 residents within a three-mile radius and an average household income exceeding $67,000. The property's strategic placement is further enhanced by its proximity to a Baker's grocery store and numerous national restaurant chains, including Wendy's, Subway, McDonald's, Taco Bell, Pizza Hut, and Tim Hortons. Its location is also convenient to Mount Vernon Nazarene University, Mount Vernon High School, and Mount Vernon Middle School, adding to its appeal. The fee-simple ownership provides complete control and potential for significant return on investment. The property was previously occupied and is subject to national bankruptcy filings, with an expected store closure in August 2024.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mount Vernon
- County
- Knox
- State
- Ohio
- Longitude
- -82.4852
- Latitude
- 40.385
- CBSA code
- 34540
- CBSA name
- MOUNT VERNON, OH MICROPOLITAN STATISTICAL AREA
