134 Merchant St
Springdale, OH 45246
Executive Plaza II · Office Property For Sale

The DiSalvo Group of Marcus & Millichap is pleased to exclusively present to market Executive Plaza II, located in Springdale, Ohio, a northwestern suburb of Cincinnati also referred to as the Tri-County Area. The City of Springdale is located in northern Hamilton County, approximately twenty miles from downtown Cincinnati. Bisected by Interstate-275 and bordered by Interstate-75, it is the home of a highly developed commercial/industrial community, as well as stable, well maintained residential neighborhoods. Executive Plaza II, located at 134 Merchant Street, is an 89,579 square-foot, three story, Class A Professional Office Building within a dense office park right off of the I-275 and I-75 interchange. The Subject Property was built in 1982, featuring Steel Construction, and was fully renovated in 2005. The Executive Plaza II Office Building resides on a 5.02 Acre Lot, featuring 362 free surface spaces and 27 covered spaces, providing for a parking ratio of 4.32 / 1,000 square-feet. Previously acquired through an REO Auction as a piece to a larger portfolio, the Executive Plaza II Office Building is currently vacant, with the ability to attract a single-tenant user, single-floor users, or a multi-tenant conversion. The Subject Property is offered to market asking $1,620,000, reflecting a very low-basis of $18.08 per square-foot. Based upon conservative assumptions that feature $15.00 Gross Rents throughout the Subject Property at 80% occupancy, any investor would be looking at a potential Return on Equity of nearly 26% upon a stabilized flip of the Executive Plaza I Office Building.