Waterville, OH - Former Rite Aid

Description:

SRS Real Estate Partners, LLC in collaboration with Reichle Klein Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a single-tenant, freestanding, drive-thru equipped, former Rite Aid investment property located in Waterville, OH (Toledo MSA). The property consists of 14,673 SF of GLA on 3.76 acres and is zoned C-1, providing a wide range of commercial uses. The site presents an excellent lease-up or redevelopment opportunity in a highly desirable retail location with direct access to residential communities, national and regional tenants, and major commuter routes.

The subject property is strategically situated at the signalized, hard corner intersection of Waterville Swanton Road and Waterville Monclova Road with a combined 9,700 vehicles passing by daily. The asset is also less than 1 mile from U.S. Highway 24 (24,000 VPD), the main thoroughfare traveling into Toledo, with convenient on/off ramp access. The property is within close proximity to a Kroger anchored center (only grocer in the trade area), which helps promote crossover shopping to the subject property. Other nearby national/credit tenants include Key Bank, the YMCA, Edward Jones Investments, Pet Valu, Dollar General, and others. Furthermore, the asset is near numerous single-family communities and multi-family complexes including StoryPoint Waterville (96 units), The Village at Waterville Landing (108 units), Steedman Apartments (252 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by more than 38,400 residents and 10,600 daytime employees. Residents within 1-, 3-, and 5-miles of the subject boast an affluent average household income of $131,794, $148,312, and $150,971, respectively.