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Key Investment Highlights

  • Anchored Retail Center: The Property is anchored by Tractor Supply Company (25.5% of the NRA), an ideal tenant that supports the surrounding economy centralized around agriculture. Tractor Supply Co. lease extends through 2024, providing for a consistent income stream while leasing up the remaining vacant space.
  • Below Replacement Costs/Basis-Play: The Property will trade at a price below replacement cost, allowing investors to enter the deal at a sustainable basis. Consequently, investors will be able to compete for tenants with lower rental rates to help expedite the lease-up time frame. 
  • Value-Add Potential: Johnstown Village Square is currently 67% leased with 26,697 SF of vacant space spread out across various suite sizes ranging from 1,600 SF – 14,447 SF. At this level of occupancy, incremental leasing velocity will significantly impact returns.
  • Stable Submarket: The Property is situated in the Licking County retail submarket (the “Submarket”) which consists of over 7.4 million square feet. The Submarket has an overall occupancy of 97% and occupancy has not dropped below 90% going back to 2006. Since 2017, the Submarket experienced only 20,000 square feet of new construction with no scheduled deliveries.
  • Prime Retail Location: The Property is situated on Highway 62, Johnstown’s main retail thoroughfare, which provides direct access into Columbus to the southeast. The Property is supported by various surrounding national retailers within a one-mile radius including CVS, Kroger, and Dollar General.

Johnstown Village Square is a 78,922 SF anchored retail center located in Johnstown, Ohio, a suburb approximately 20 miles northeast of Columbus (the “Property”). The Property is situated on 11 acres and consists of an L-shaped neighborhood center with a McDonald’s PAD site. Johnstown Village Square is currently 67% leased and anchored by a Tractor Supply Company (25.5% of the NRA) whose lease extends through 2024. In addition to a mix of local tenants, national tenants at the Property include Goodwill, Dollar Tree and H&R Block.

Johnstown Village Square benefits from its location directly off Highway 62 which provides access into downtown Columbus. Johnstown is an affluent suburb of Columbus and boasts an average household income in excess of $70,000 (within a three-mile radius). The surrounding population and economy rely on agriculture, making Tractor Supply Co. the ideal anchor for this submarket. Additionally, the Property is surrounded by various national retailers including CVS, Kroger, and Dollar General all within a one-mile radius.

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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Johnstown Village Square

625 W. Coshocton Street, Johnstown, OH 43031

Sold Subject To

Asset Snapshot

  • Asset Type
  • Real Estate
  • Land Area
  • 10.95 Acres
  • Year Built
  • 1991
  • Year Renovated
  • 1999
  • Number of Floors
  • 1
  • Number of Buildings
  • 2
  • Parking Count
  • 360
  • Occupancy
  • 67.45%
  • Occupancy as of
  • May 01, 2018
  • Retail Type
  • Neighborhood Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Tractor Supply Company
  • Property Size
  • 78,992 Sq Ft
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Cooperating Broker Fee Available!

    Cooperating brokers may be eligible for a 0.50% co-op fee if their client is the winning bidder. If you are a broker, click here to login and identify your client.