Valley View, OH - Goodman Distribution

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, Goodman Distribution investment property located in Valley View, Ohio (Cleveland MSA). The tenant, Goodman Distribution, Inc has over 6 years remaining on their initial lease with 2 (7-year) options to extend, demonstrating their commitment to the site. The lease features annual 2% rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The property is located near Rockside Drive, which averages 39,400 vehicles passing by daily and is a major retail thoroughfare serving the city of Valley View. The site is just south of Interstate 480 (169,600 VPD), a major east/west travelling thoroughfare providing ease and convenience for commutes. Additionally, the Goodman Distribution is positioned just west of Garfield Commons, a 317,000 square foot shopping center with national/credit tenants including Marc’s Stores, Big Lots, Planet Fitness, and more. Furthermore, the asset is located southwest of Southgate USA, an 816,000 square foot Home Depot and Giant Eagle grocery anchored center. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Dollar Tree, Planet Fitness, Walgreens, O’Reilly Auto Parts, Advance Auto Parts, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Cleveland Hopkins International Airport, a major international airport helping provide ease and convenience to the tenant and visiting clients. The 5-mile trade area is supported by a population of over 193,000 with an average household income of $70,710.