601 Main St Canfield, OH 44406-9028

Property Details for 601 Main St

Year built

1999

Lot size

1.42 lot acres

Property size

10,113 SF

Property type

Drug stores

APN

28-028-0-004.00-0

APU

280280004000

Description

This 10,113 sq ft CVS Pharmacy, located at 601 East Main Street, Canfield, OH 44406, presents a compelling investment opportunity. Situated on a 1.42-acre lot at a signalized intersection with high traffic volume (20,000 VPD on E Main St and 8,000 VPD on Fairground Blvd), this property benefits from exceptional visibility and accessibility within the Youngstown/Warren/Boardman MSA. Built in 1999 and extensively renovated in 2018, the building is in excellent condition. The property enjoys a strong location near major suburban neighborhoods and key employers, supported by robust local demographics: over $56 million in annual consumer spending on education and daycare within a 5-mile radius, and average household income exceeding $113,000 within a 3-mile radius. The property's tenant, CVS Health, is a Fortune 500 company with an S&P rating of BBB, providing a corporate guarantee for the absolute NNN lease. This lease, with a remaining term of 13.5 years and 5 x 5-year options with 2.5% rent bumps, offers long-term stability and predictable cash flow. The asking price is $5,263,158, representing a 4.75% cap rate and a price per square foot of $520.43. The property's NOI is $250,000. Nearby established retailers include Target, Kohl's, T.J. Maxx, and many others, further enhancing the property's value and appeal. This is a rare opportunity to acquire a high-performing, investment-grade retail property with significant long-term potential.

Location Insight

City

Canfield

County

Mahoning

State

Ohio

Longitude

-80.7415

Latitude

41.0242

CBSA code

49660

CBSA name

YOUNGSTOWN-WARREN-BOARDMAN, OH-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments