610 1/2 W Main St
Ravenna, OH 44266
Family Dollar and Litehouse Pools & Spas · Local commercial Bien À vendre

For sale is the 100% fee-simple interest in the NNN-leased Family Dollar and Litehouse Pools & Spas in Ravenna, Ohio. This two-tenant building has an incredible history of tenant longevity with Family Dollar accounting for 40 years and Litehouse Pools & Spas for 23. Family Dollar has been a tenant in the property since 1986 and has continued to renew their lease including an expansion to their current store size in 1997. Recently, Family Dollar added another 5 years of term along with a corporate guaranty to the lease. Both tenants reimburse for common area maintenance, property taxes, and insurance, rendering this a clean asset with surety of annual income. The property is located just outside of the central business district in Ravenna, Ohio, with frontage on Ohio State Route 59, which is the main avenue through downtown Ravenna. Just west on SR 59 is Kent State University, a major division 1 university competing in the Mid-American Conference (MAC) with an enrollment of over 35,000 students, and is a large economic driver for the entire region. The building itself features a large parking field and pylon signage for each tenant. The asset is being offered far below its replacement cost at only $90 per square foot.