$55,000 Minimum Investment
NNN Lease – 11 years
This tenant-in-common 1031 property is a new 2015 relocation store for Kay Jewelers on 11-year NNN Lease with 10% rental increases every 5 years & in the options. Kay Jewelers relocated to this site after 12 years of operating successfully in the adjacent Shenango Valley Mall (507,000+ SF shopping center). This offering is a rare opportunity to acquire a portion of brand-new freestanding Kay Jewelers with historically strong sales. Contact us for additional information on unit level financials.
Immediate trade area retailers include the 507,000+ SF regional Shenango Valley Mall, which is anchored by JCPenney. Other retailers in the immediate area include Home Depot, Lowes, Shenango Valley Cinema, Aidi, Chipotle, and many others. There are over 36,000 vehicles per day at the intersection of Hermitage Rd & E State Street
This property is a brand new build-to-suit, freestanding Kay Jewelers location, constructed in 2015, and represents a newer prototype location. Tenant is responsible for interior structural components and HVAC. Tenant directly administers the operation, maintenance, repair, and replacement of the common areas including direct payment of CAM’s and directly pays taxes. A 15-year roof warranty is offered to buyers at close of escrow. Contact us for info on all current TIC properties >>>
Hermitage is a city in Mercer County, Pennsylvania and is part of the Youngstown-Warren-Boardman, OH-PA MSA. located in Western Pennsylvania midway between Pittsburgh, Erie, Chicago, and New York City at the junction of Interstates 79 and 80, offering unique advantages for business development. Hermitage is a great place to work and invest. Hermitage has a labor force of 7,803 people with a job growth rate of 3.56% since 2014. Hermitage boasts a total of 1,057 businesses with the leading industries being wholesalers, retail, healthcare and social services, accommodation and food services.