This property is Off-Market

875 West Galbraith Road
Cincinnati, OH 45231 ·

26,740 SF · Retail For Sale

N/A

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Winton/Galbraith Center

Price N/A Occupancy 100%
Gross Leasable Area 26,740 SF No. Stories 1
Property Type Retail Tenancy Multiple
Property Sub-type Neighborhood Center Year Built 1963
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 2.93 AC
Cap Rate 7.41%
Listing ID: 14939791 Date Created: 01/03/2007 Last Updated: 03/06/2008

Description

We are pleased to bring to the market this 26,740 SF, eight tenant strip center located in Cincinnati, OH. The subject property is currently 100% occupied and is anchored by Walgreens who occupies 45% of the GLA.

The property is currently leased to an extremely stable tenant mix. 45% of the leasable area is investment grade credit, 26% regional credit and the remaining 29% is local credit. This is the ideal neighborhood shopping center, complete with the dry cleaners, nail salon and Chinese Restaurant. The anchor tenant, Walgreens, has more than 7.5 years remaining on its lease. What mitigates the downside risk in the center is the expiration dates of the leases in different years. Two of the tenants in the center are Cincinnati's most well respected brand names, Graeters Ice Cream and Larosas Pizza who have an extremely stable outlook far into the future.

The subject property is located on the southeast corner of two 5-laned intersections. The intersection is signalized and serviced 49,000 VPD in 2002. In addition, the subject property is positioned less than a quarter mile from an exit of a 4-laned highway that connects I-75 and I-71.

Highlights

  • 100% Occupied
  • 7.41% Cap Rate
  • 8.83% Cash on Cash
  • Diverse Tenant Mix
  • 270,000 People Within Five Miles
  • $57,000 Household Income Within One Mile

Research

875 West Galbraith Road, Cincinnati, OH 45231 (Hamilton County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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