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BrightView, Dover, OH

BrightView

Dover, OH

Price $711,000
Cap Rate 6.50%
NOI $46,200
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof and Structure
Rental Increases 2% Annual Rental Increases
Year Built 2021 Remodel
Building Size 4,620 SF
Lot Size 0.33 Acres (14,375 SF)
Status Avilable
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NET LEASE WITH RARE ANNUAL RENTAL INCREASES
» 10-year net lease with minimal landlord management
» Rare annual rental increases, providing a hedge against inflation
» Two (2) option periods of five (5) years each
» BrightView is a private medical services provider that focuses on addiction treatment that now operates more than 29 medical centers in Ohio and Kentucky

EASILY ACCESSIBLE AND HIGH-TRAFFIC LOCATION IN POPULOUS OHIO SUBMARKET
» 37,400 residents within a five-mile radius of the property, providing a large customer base for the location
» High-visibility location along South Wooster Avenue (20,050 AADT)
» 66,337 residents within a five-mile radius of the property with population growth expected to exceed 11 percent over the next five years
» Central location near highly trafficked Dover thoroughfares, including Interstate 77 (43,550 AADT)
» Projected nine percent average annual household income increase within a three-mile radius of the property in the next five years, poising BrightView and Dover for significant concurrent growth

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including Pizza Hut, Speedway, CVS, Domino’s Pizza, Dairy Queen, and many more
» Within walking distance of Union Hospital, a 148-bed hospital that is the centerpiece of a 25-acre medical campus
» Directly across from the site of the annual Tuscarawas County Fair, which has over 46,000 visitors per year
» Less than half a mile from Downtown Dover and just over two miles from Downtown New Philadelphia



Property Description

The property has an easily accessible location on South Wooster Avenue, with visibility and access to 20,050 AADT. The site maintains a central location at the confluence of highly trafficked Dover thoroughfares, including Interstate 77 (combined 43,550 AADT). The site benefits from its location in a populous area, with 37,400 residents living within a five-mile radius of the property. With a projected nine percent average annual household income increase within a three-mile radius of the property in the next five years, BrightView and Dover are poised for significant concurrent growth.

The site is surrounded by a strong mix of local and national retailers, including Pizza Hut, Speedway, CVS, Domino’s Pizza, Dairy Queen, and many more. The property is centrally located less than one-half mile from Downtown Dover and just over two miles from Downtown New Philadelphia. The property is also directly across from the Tuscarawas County Fairgrounds, home to the Tuscarawas County Fair, which has over 46,000 visitors per year. Several of the region’s largest employers are located near the property, including Meteor Sealing Systems (328 employees) and Marlite (151 employees). The property is also within walking distance of Union Hospital—a 148-bed hospital with 1,140 employees—and is adjacent to a number of medical offices, providing a strong customer base for the pharmacy’s prescription drug services.

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