BJ's Wholesale - Akron, OH

1677 Home Ave Akron, OH United States 44310-1659
Asking Price
Sq. Footage
NOI Net Operating Income
Cap Rate


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Year Built 1998
Building Area sf
Land Area acres

Property Description

For sale is the long-term tenanted BJ’s Wholesale Club in Akron, Ohio, the fifth largest city in the state. BJ’s Wholesale Club, Inc., an industry leader with over $13 billion of revenue in 2018, has occupied this site for over 20 years and acted to further extend the lease with the first of four renewal options commencing in August 2018. The Property is nearly 110,000 rentable square feet and currently generates annual NOI of $1,102,931 ($10.06 PSF). It is located in a demographically strong retail corridor with positive population growth fundamentals and a wealthy, average household income profile. The U.S. warehouse club market is expected to capitalize on the continued positive tailwinds. BJ’s stands to capture a sizable portion of future industry gains due to their strong brand loyalty, membership retention rates, and diverse product offerings.

Investment Highlights

• Fee simple interest

• In-place NN lease with minimal landlord responsibilities ensuring a passive investment structure, featuring potentially 19 more years of lease term escalating in line with inflation

• Unique opportunity to purchase an attractive cash in-flow tenanted by a growing, profitable industry leader in a rebounding MSA

• Tenant possesses strong adjusted EBITDA growth to the factor of a 12.5% CAGR from 2015 to 2018

• The U.S. warehouse club market has grown by a 4.5% CAGR from 2007 to 2017 

• The property has strong infrastructural connectivity positioned in close proximity to State Route 59 (101,000+ VPD)

• Annual net absorption in the Akron retail market over the trailing twelve months reached over 970,000 square feet                                                                   

Pierce Owens
Pierce Owens
Licensed in
TX - 510337
Tom Fox
Tom Fox
SVP, Brokerage

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