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Fully Occupied NN Asset | Easy Highway Access 400 Cherry Ave SE
35,658 SF 100% Leased Industrial Building Online Auction Sale Canton, OH 44702
Investment Highlights
- Efficiently situated 35,658-SF industrial manufacturing property with office space and dock doors over a 0.92-acre secured lot in Canton, Ohio.
- Sought-after fully occupied investment opportunity with a newly signed NN single tenant on a 5-year lease term with renewal options and escalations.
- Conveniently surrounded by amenities such as Walmart Supercenter, McDonald’s, Giant Eagle, Wendy’s, Family Dollar, Subway, Dollar Tree, and many more.
- Strategically located just outside of downtown, positioned 0.5 miles from I-77 and 1.7 miles from the US 30 and I-77 major highway interchange.
- Ideal improvements made throughout the asset include new water heaters, an updated heating/cooling system, new flooring, and a new water line.
- Beneficially sited less than 10 miles from Akron-Canton Airport (CAK), 30 minutes to Downtown Akron, and about a 1-hour commute to Downtown Cleveland.
Executive Summary
Strategically located a half-mile from Interstate 77 and 1.7 miles from the Route 30 highway interchange, 400 Cherry Avenue SE boasts optimal convenience for traveling throughout the state. The property benefits from its less than 10-mile access to the Akron-Canton Airport (CAK) and 30-minute proximity to Downtown Akron, with Downtown Cleveland less than a one-hour drive via a nearly direct route driving north on Interstate 77.
400 Cherry Avenue SE is ideally situated just outside of Canton’s Central Business District, providing seamless connectivity to major businesses and amenities all within a quick 3-mile radius. Tenants and visitors can appreciate having quick access to prominent retailers and quick eats, including Walmart Supercenter, Giant Eagle Supermarket, McDonald’s, Wendy’s, Family Dollar, Subway, Dollar Tree, Walgreens, and many more.
This asset serves as an exceptional investment opportunity as it is fully occupied by a newly signed NN single-tenant with a five-year lease term with renewal options built-in with annual escalations. Acquire 400 Cherry Avenue SE for the ability to acquire consistent revenue with minimal landlord responsibilities.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Canton - OH USA
Market Cap Rate
Canton - OH USA
Market Sale Price per SF by Star Rating
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4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
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Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Number of Floors | 2 |
| Sale Conditions | Auction Sale | Year Built | 1860 |
| Property Type | Industrial | Parking Ratio | 0.14/1,000 SF |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 3 |
| Building Class | C | Level Access Doors | 1 |
| Lot Size | 0.92 AC | Opportunity Zone |
Yes
|
| Rentable Building Area | 35,658 SF |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 0.92 AC |
| Rentable Building Area | 35,658 SF |
| Number of Floors | 2 |
| Year Built | 1860 |
| Parking Ratio | 0.14/1,000 SF |
| No. Dock-High Doors/Loading | 3 |
| Level Access Doors | 1 |
| Opportunity Zone |
Yes |
Amenities
- Fenced Lot
About Stark County
Stark County is among the 10 most populous counties in Ohio and is home to more than 370,000 residents. Manufacturing and education and health services represent the top industries in the area. Major employers include Alliance Community Hospital, Stark State College, and Heinz North America. The area is accessible via Interstate 77 and is home to the Akron-Canton Airport, which recently received a $1.1 million grant from the Federal Aviation Administration that will go towards infrastructure projects.
Stark County includes some of the most sought-after suburbs in the Canton metro area, including North Canton, Greentown, and Uniontown. The area is perhaps best known as the home of the Pro Football Hall of Fame, which attracts around 200,000 visitors annually. A $900 million mixed-use expansion is underway at the Hall of Fame and includes two hotels, an indoor waterpark, an office complex, a convention center, and a retail promenade.
The Canton area is a strategic industrial market and provides tenants with access to Ohio’s growing advanced manufacturing sector at a more affordable rate compared to neighboring markets such as Akron and Cleveland. Stark County captures the majority of leases in the market, with tenants including Synchrony Financial, McKinley Health Care Center, and Mac Trailer Manufacturing. Investors are active in the area, and annual sales volume has maintained elevated levels over recent years.
DEMOGRAPHICS
Regional Accessibility
PROPERTY TAXES
| Parcel Number | 00232202 | Improvements Assessment | £3,486 |
| Land Assessment | £26,703 | Total Assessment | £30,188 |
PROPERTY TAXES
zoning
| Zoning Code | B4 |
| B4 |
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Fully Occupied NN Asset | Easy Highway Access | 400 Cherry Ave SE
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