Marietta, OH - CheckSmart

Description:

SRS Real Estate Partners is pleased to present the rare opportunity to acquire the fee simple interest (land and building) in a freestanding, single tenant, NNN leased, CheckSmart investment property located in Marietta, Ohio. The tenant, Buckeye Check Cashing, Inc. dba CheckSmart recently signed a brand new 5 year lease with 4 (5-year) option periods to extend, demonstrating commitment to the site. The lease features 10% rental increases at the beginning of each option period, generating healthy NOI growth. The lease is corporate guaranteed and is NNN with landlord responsibilities limited to the roof only.

The subject site is located at the signalized, hard corner intersection of Wayne Street and Pike Street (29,200 VPD). Pike Street is considered to be one of Marietta's busiest arterial streets with major/national credit tenants located up and down the thoroughfare. Tenants in the immediate area include a 24-hour Walmart Supercenter, Kroger, Lowe's Home Improvement, Big Lots!, Walgreens, and more, promoting crossover traffic to the site. The asset is also located in close proximity to numerous residential communities - the ideal consumer base for CheckSmart. The 5-mile trade area is supported by a population of approximately 29,000 with an average annual household income of $67,545. Additionally over 20,000 employees support the trade area.