320 S Water St

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320 S Water St

Kent, OH
Asking Price
$3.40M
Asset Type
Retail
Class
Class B

What's Special

320 S Water Street is situated in the downtown district of Kent, Ohio, directly north of the Kent State University campus. The neighborhood is characterized by a dense mix of collegiate facilities, student housing, and local businesses. The property is positioned at a signalized intersection along a primary north-south arterial road, providing high visibility and direct access to the central business core. Nearby amenities include various dining options, boutique retail, and the Haymaker Farmers' Market. The location is well-served by the PARTA transit system and is pedestrian-accessible from the surrounding residential and academic corridors. This retail asset is suited for high-volume consumer services, pharmacy operations, or convenience-oriented retail. The existing infrastructure, which includes a drive-thru lane and ample surface parking, supports tenants requiring ease of access for local commuters and the nearby university population. An ideal tenant profile includes national credit retailers, essential service providers, or regional businesses seeking to capitalize on the consistent foot traffic generated by over 25,000 university students and faculty. The site's configuration allows for efficient logistics and high-frequency customer turns consistent with established pharmacy or specialty grocer standards.

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NOI
$80,000
Cap Rate
2.35%
DSCR
0.40
Underwater
Cash-on-Cash
-11.95%
Monthly Payment
$16,821.345
Annual Cash Flow
$-121,856.139

Location & Travel Times