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11530-11548 Springfield Pike 43,071 SF 73% Leased Retail Building Springdale, OH 45246 $7,150,000 ($166.00/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 90% Occupied, NNN Medical/Retail Center with Desirable Service Oriented, Internet Resistant and Medical Services Tenants
- Offers a Great Mix of National, Regional and Local Recession/ Internet Resistant Users, Many of them Being Medical Users
- 80% of Tenants Have Renewed Lease at Lease Once: Many Original or Tenured Tenants Consistently Exercising Renewals
- Multiple Avenues for Future NOI Growth: Lease-Up of the Last 2 Remaining Vacant Units & a Majority of Tenants Include Multiple Rental Increases
- Excellent Recent Leasing Traction Within the Past 12 Mths & Balanced Rent Roll w/ No Individual Tenant Occupying More Than Approximately 7% of center
- Strong Demographics in Growing Suburban Market: Over 159,000 Residents and Average Household Incomes Over $105,000 Within a 5 Mile Radius
EXECUTIVE SUMMARY
-Proven Market with Close Proximity to Target, Sam’s Club, Dave & Busters, Starbucks, and Many More, as well as Springdale Plaza (1.5 Miles) Featuring Aldi, TJ Maxx, Ross, DSW Shoe Warehouse, and Five Below
-Built-In Employment Base: Over 1.56 Million Workers Live Within 50 Miles of Downtown Cincinnati, Including Major Presence and/or HQ’s for Fortune 500 Companies: Kroger,
Procter & Gamble, Macy’s, Fifth Third Bank, Western & Southern Financial, and American Financial
-Surrounded by Students: Direct Vicinity of Winton Woods High School (2.5 Miles, 1,262 Students), Princeton High School (3 Miles, 1,691 Students), Springdale Elementary (One of Two Schools in Ohio to be Named a National Elementary and Secondary Education Distinguished School) and Only 13 Miles from The University of Cincinnati with Approx. 68,000 Students/Academic Staff
-Direct Major Employers: Mercy Health Fairfield Hospital (4 Miles,1,213 Employees), Cincinnati Children’s Hospital (19,500+ Employees) and Over 150 Industrial/Distribution Companies(Graham Packaging, Pro Door, Haggerty Logistics, Superior Pool Products and Hundreds of Others) Just North of I-275
-Built-In Employment Base: Over 1.56 Million Workers Live Within 50 Miles of Downtown Cincinnati, Including Major Presence and/or HQ’s for Fortune 500 Companies: Kroger,
Procter & Gamble, Macy’s, Fifth Third Bank, Western & Southern Financial, and American Financial
-Surrounded by Students: Direct Vicinity of Winton Woods High School (2.5 Miles, 1,262 Students), Princeton High School (3 Miles, 1,691 Students), Springdale Elementary (One of Two Schools in Ohio to be Named a National Elementary and Secondary Education Distinguished School) and Only 13 Miles from The University of Cincinnati with Approx. 68,000 Students/Academic Staff
-Direct Major Employers: Mercy Health Fairfield Hospital (4 Miles,1,213 Employees), Cincinnati Children’s Hospital (19,500+ Employees) and Over 150 Industrial/Distribution Companies(Graham Packaging, Pro Door, Haggerty Logistics, Superior Pool Products and Hundreds of Others) Just North of I-275
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
43,071 SF
Building Class
C
Year Built
2006
Price
$7,150,000
Price Per SF
$166.00
Cap Rate
7.75%
NOI
$554,326
Percent Leased
73%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
4.31 AC
Parking
120 Spaces (2.79 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Monument Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Marathon Health
- -
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
- Republic Finance
- -
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
- Subway
- -
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Marathon Health | - | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| Republic Finance | - | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| Subway | - | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 11530
- 1,400 SF
- Retail
- -
- Now
Some restaurant equipment remains in the space
| Space | Size | Space Use | Position | Available |
| 11530 | 1,400 SF | Retail | - | Now |
| 11566 | 2,380 SF | Retail | - | Now |
11530
| Size |
| 1,400 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
11566
| Size |
| 2,380 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
11566
| Size | 2,380 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Some restaurant equipment remains in the space
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 599-0042-0384 | Improvements Assessment | $669,197 |
| Land Assessment | $415,895 | Total Assessment | $1,085,092 |
PROPERTY TAXES
Parcel Number
599-0042-0384
Land Assessment
$415,895
Improvements Assessment
$669,197
Total Assessment
$1,085,092
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11530-11548 Springfield Pike
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