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Cooper's Hawk Anchored Lifestyle Center

8080 Montgomery Road, Cincinnati, OH 45236

$14,617,000

27,074 SF | Retail

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Retail Property For Sale

Price:
$14,617,000
Gross Leasable Area:
27,074 SF
Price/SF:
$539.89
Property Type:
Retail
Property Sub-type:
Strip Center
Additional Sub-types:
Restaurant
Free Standing Bldg
Street Retail
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
7.22%
Tenancy:
Multiple
Year Built:
2014
Listing ID
18657261
Last Updated
22 days ago

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Attachments

Highlights

  • 100% Occupied Center / Excellent Tenant Mix
  • Brand New Building / Long Term Leases
  • Future Break-Up Potential
  • Near the Kenwood Towne Center (Sales of $800 psf; 1.2 Million SF)
  • Located at a Signalized, Hard Corner Intersection Near Interstate 71 on / off Ramp (127,000 vehicles per day)
  • High Average Household Income with Strong Density

Description

Faris Lee Investments is pleased to offer for sale Kenwood City Place (27,074 SF), which is ideally located in the strongest retail hub of Cincinnati, Ohio. Kenwood City Place is 100% leased to seven (7) tenants, all with brand new NNN leases, which creates an ease of management with limited landlord responsibilities. A majority of the tenants are on long-term (10-year) leases, featuring strong rental increases throughout their terms, creating a security of cash flow for the future investor. The property is currently one (1) parcel, but the layout allows for the potential to separately parcelize the property into two (2) parcels, creating potential upside in future break-up transactions.

Kenwood City Place is positioned at the signalized, hard corner intersection of Hosbrook Road and Montgomery Road (32,000 vehicles per day), which is the main trade area artery, and is approximately 0.10 miles from the on/off ramp to Interstate 71 (127,000 vehicles per day). The property benefits from its close proximity to the Kenwood Towne Center (Rated A+ with estimated sales nearly $800 psf per Green Street ), which is anchored by Nordstrom, Dillard' s and Macy' s, and is owned and operated by General Growth Properties (the second largest retail property REIT in the United States). Additionally, Kenwood City Place is within a strong demographic trade area, 150,000 permanent residents and 130,000 day time employees within a 5-mile radius, and features a high average household income of approximately $90,000 within a 3-mile radius.

Financial Summary

  • Actual
  • $1,055,620

Map of 8080 Montgomery Road, Cincinnati, OH 45236 (Hamilton County)

Research for 8080 Montgomery Road, Cincinnati, OH 45236 (Hamilton County)

  • Demographics – Population, income & other demographics near 8080 Montgomery Road
  • Research Price – Recent sales of similar properties
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Presented by Faris Lee Investments
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Asking Price Index Trends for Cincinnati, OH Retail For Sale

  Jul 14 vs. 3 mo.
prior
Y-O-Y
-
State
$78+0.0%-1.9%
-
Metro
$950.0%-2.2%
-
County
$93+0.7%-6.1%
-
City
$101+3.4%-3.4%

View Cincinnati Market Trends for other property types for sale or lease. Learn more about the chart info.

Cooper's Hawk Anchored Lifestyle Center
  • Retail
  • $14,617,000
  • 27,074 SF