Property Location: 3761-3765 Round Bottom Road, Newtown, Ohio
3761-3765 Round Bottom Road was originally developed in 2013 as a gun range and ammunition manufacturing facility, comprising two buildings totaling 47,082 square feet. After going into foreclosure and reverting to the bank, the property became severely distressed and sat vacant for several years. While many saw a liability, Midwest Properties recognized an opportunity.
Both buildings underwent significant renovations, and we split the original parcel into two smaller parcels, allowing each building to operate independently and making them more attractive to multiple users. We collaborated with the municipality to retain a tax abatement, which ultimately facilitated leasing the larger building.
Leveraging an existing relationship with a successful retail gun range operator, we formed a mutually beneficial partnership to lease the larger building for a 20-year term. This partnership allowed us to update the facility into a state-of-the-art gun range and gun safety training center. The smaller building was subsequently sold to a separate owner-operator, further enhancing the overall value of the property.
