EXTREMELY VALUE ADDED TO THE "MAX" OF A 270,000+SF MALL IN BOWLING GREEN, OHIO. PURCHASED 16+ YEARS AGO AND THIS IS BEING SOLD AT AN UNDERFORMING PRICE
1234 N Main St, Bowling Green, OHIO
This at $4.8M OBO plus the commissions, is NOT a cap rate/NOI sale. This is simply a sale driven buy the ridiculously low price. This is fee simple, not pre-foreclosure. It is a private sale
PER THE SELLER:
We have decided to put our Shopping Center, which our group has owned and operated for over 16 years for sale. As a result of Covid and other factors, the 270,000 SF Center lost the Anchors. We are now out of state sellers and we would take our losses back to where we own our other businesses in the northeast.
# It is now approximately less than 50% occupied, recently losing a major Muli-plex moving theater. The mall enjoyed and continues to enjoy it’s proximity (5-minuite drive)to the 25,000 student
Bowling Green State University, multiple residential complexes, etc
# It is currently has a negative cash flow of approximately $250K. This is a unique opportunity to Re-position, Re-develop and provides a transformative opportunity either as a
Residential, Warehouse, Industrial, Medical and as a Shopping Center.
# Purchase price of $4.8M OBO (originally purchased for over $12M); the Town is at our disposal in order to make things works in a variety of directions.
HERE'S A BUYING OPPORTUNITY OF AN INDOOR MALL IN OHIO, NEEDS A NEW OWNER W/ NEW IDEAS & A CASH INFUSION
DESCRIPTION
Former ODJFS office space (15,946 SF training/call center) available for lease. Upgrades/improvements completed in 2005. Woodland Mall is located at 1234 N. Main Street on the northern edge of Bowling Green, Ohio, in Wood County. The main mall access point is signalized on N. Main Street (State Route 25) with a secondary access point on Newton Road. The property is zoned B-2 General Commercial and benefits from more than 1,600 parking spaces.
Woodland Mall is located on the northern edge of Bowling Green, Ohio, on the east side of N. Main Street (State Route 25) at Newton Road. The property consists of approximately 45 acres total with an enclosed mall featuring 270,502 SF of retail space. Mall anchors currently include Elder Beerman, Sears, Dunham' s Sports and a cinema. Approximately 18,100 vehicles per day pass the site each day on N. Main Street...3,260 vehicles per day on Newton Road. Other retailers in the immediate area include Kroger, Dollar Tree, Walgreens, Burger King, Fifth Third Bank, First Federal Bank, Glass City Federal Credit Union, The Union Bank Co. and many others. Bowling Green is a "county seat" and home to Bowling Green State University (BGSU) with more than 19,000 students.
HIGHLIGHTS
Former regional training and call center BGSU main campus one mile south (19,000+ students)Located in a "county-seat" market Tenants include Elder-Beerman, Dunham's Sports and Sears34,903 people reside within a five-mile radius$44,054 median HH income within a five-mile radius
5 PERCENT BUYERS COMMISSION
4.8M OBO
