Walmart Shadow Anchored:
Salem Market Place
2955 E. State Street
Salem, OH 44460
Price: $2,115,000
7.50% CAP Rate
Highlights:
  • 83% Occupied, Value-Add Multi-Tenant Center Shadow Anchored by Walmart Supercenter and Directly Across From Home Depot

  • Two Purchase Options: New Financing OR with Assumable Debt at a 4.75% Interest Rate, Approx. 5.5 Years of Term Remaining, 25-Yr. Amortization and Yielding a 13.20% Year-1 Expected Total Return on Investment

  • Attractive 7.50% CAP Rate and Significant Upside Potential Through Lease-Up of the Last 2 Remaining Vacant Units (17%+ Vacancy)

  • Many Well-Known, National & Regional Tenants: Super Cuts (Regis Corp.), Sally Beauty Supply, GameStop, Little Caesar’s Pizza and Drayer Physical Therapy

  • Over 25% of Tenants are Original to the Centers (2003) and Nearly 60% of the Leased Space has had Renewals Within the Past 18-Months

  • Main Retail Corridor: Surrounded by Complimentary Retailers Along the Most Heavily Traveled Roadway Through Salem

  • Excellent Frontage Along State Street (US-14) with Prominent Pylon Signage, Frontage and High Visibility

  • Multiple Points of Ingress/Egress for Ease of Access to Center and Surrounding Shadow Anchors

  • Strong Community: Average Household Incomes Over $71,000 Within 5-Miles

  • Advantageously Located Between Major Cities: Youngstown (20 Miles) and Akron/Canton (25 Miles)

  • Strong Employment Base with Direct Vicinity of Major Employers, Including 1-Mile From Salem Regional Medical Center (875 Employees, with Growth & Expansion), American Standards Brand and Kent State University Salem Campus (1,130+ Students)
Exclusively Listed By:
Bob Havasi
(216) 562-1981 x10

Dan Cooper
(216) 562-1981 x12
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