114 12th Street NE, Canton, Ohio 44704

Foreclosure Sale by Court-Appointed Receiver.  Online bidding only.  Prodigy Properties is pleased to present for sale this single tenant net lease investment opportunity located in Canton, Ohio.  The subject property sits on ~1.5 acres and plays host to a 11,500+ SF commercial building, solely occupied by Rite Aid, a Fortune 500 company and one of the nation’s largest drugstore chains.  Rite Aid has been the only tenant at this property since it was purpose-built for them in 1995 and just recently signed a lease extension through 2033, proving its commitment to this location.  Turnkey investment opportunity with a stable cash flow for over 12 years from an established tenant, do not miss out on this unparalleled opportunity!

Click Here for Interactive Aerial 360 View

To receive any due diligence information, prospective bidders must:

• Submit an executed Confidentiality Agreement

Furthermore, to be granted bidding access, a prospective bidder must, in addition to the above:

• Complete and submit a Prospective Bidder Registration Form
• Complete and submit a Purchase and Sale Agreement, leaving only the purchase price terms blank
• Submit proof of immediately available funds of at least the minimum bid amount of $1,500,000
• Wire a $25,000 participation deposit to the escrow account of the Receiver
• Have otherwise met all other reasonable requirements of the Receiver

Property will be sold free and clear of all liens.  Receiver may, in its sole discretion, accept or reject any bid or offer for any reason, at any time, without notice.  No representations, warranties, or guarantees.  Bidding is scheduled to conclude on 7/20/2021 at 2pm ET.  A 10% Buyer’s Premium is added to the high successful bid to determine the final purchase price.  The high successful bidder must wire transfer a 10% deposit of the final purchase price by 5pm EST on Wednesday, July 21, 2021.  Furthermore, a Receiver’s Purchase and Sale Agreement is required to be executed by the high successful bidder within 48 hours after the auction conclusion.

This property is occupied.  Do not disturb the tenant.  Contact [email protected] for further guidance, as well as a copy of our Offering Memorandum and a Confidentiality Agreement.  If you choose to walk the subject property without contacting Prodigy Properties first, please understand that it is at your own convenience and risk.  Photos are provided for guidance purposes only.  All information provided is believed to be true, but cannot be guaranteed. 

Information contained in ANY advertisement for this property is not guaranteed or warranted and should not be relied upon.  BY BIDDING ON THIS PROPERTY THE BIDDER REPRESENTS IT HAS INDEPENDENTLY VERIFIED ALL INFORMATION AND MADE THE DECISION TO BID BASED UPON THEIR OWN INVESTIGATION.  High successful bidder must wire transfer a deposit of 10% of the final purchase price by 5pm EST on Wednesday, July 21, 2021.

Key sale points:

• The opening bid is $1,500,000 with an unpublished reserve price.
• Property is sold 100% AS-IS, WHERE-IS, with all faults.
• Property is sold subject to any / all code violations, to the extent any exist.
• Property is sold subject to court approval.
• All bids are subject to Receiver’s confirmation.
• Receiver reserves the right to accept or reject any bid or offer, at any time prior to or subsequent to auction end, for any reason.
• Information contained in any advertisement is not guaranteed or warranted.
• No contingencies will be accepted, except the Receiver’s ability to convey insurable title.
• Property will be sold free and clear of all liens.
• Absolutely no financing contingencies.
• Absolutely no inspection contingencies.
• 10% Buyer’s Premium is added to the high successful bid to determine the final purchase price.
• 10% deposit of the final purchase price must be wired to Receiver’s title company by 5pm EST on Wednesday, July 21, 2021.
• Receiver’s Purchase and Sale Agreement must be executed by the high successful bidder within 48 hours after the auction conclusion.
• The terms of the sale are fully set forth in the Agreement and are not negotiable.