Madison Square
Property Type: Retail | Property Status: Sold
Property Details
Price: $6,190,000
CAP Rate:
Square Feet:
Tenancy Type: Mixed
Lease Type: NNN
Location Info
Address: 6572 North Ridge Road
City: Madison
State: OH
Zip: 44057
Property Description
Short Description:
Madison Sqaure – 9.00% Cap – NNN Leases
Details
With 100% occupancy and primarily triple net (NNN) leases for all current tenants, Madison Square Shopping Center is shadow-anchored by Giant Eagle to the west and is situated directly on N. Ridge Road – a major roadway with a plentitude of commercial activity. In addition to the shopping center itself, the property has two outlot parcels fronting N. Ridge Road, one of which is ground leased by Chase Bank, the other of which is owned by Wendy’ s. The area surrounding Madison Square is predominately occupied by commercial retail users, some of the more notable within 1-mile being Giant Eagle w/ a Get-Go Gas Station, Peebles Department Store, Walgreen’ s and Rite Aid drugstores, and Wal-Mart Supercenter. Additionally, numerous restaurant/service-provider users adjacent to the property, including Blockbuster,AutoZone, Prudential, Taco Bell, Arby’ s, McDonald’s, BK, Pizza Hut, & Subway.