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Incredible Value-Add Nationally Anchored Ctr. 432-634 S Burnett Rd 84,335 SF 100% Leased Retail Building Springfield, OH 45505 $3,145,000 ($37.29/SF) 6.50% Cap Rate



Investment Highlights
- Neighborhood Retail Center: 67% Occup: Long-Term, Tenured National Tenants, Including Credit Anchor AutoZone (S&P BBB) , Family Dollar & Ace Hardware
- $2,060,000 in Upside Value @ Stabilized 8.00% CAP Rate (Assuming 93% Occup.) Estimated $210,000+ Increase to NOI, Not Including Addl. Outlot Value
- Ideal Demographics: Average Household Incomes of $78,000 Within a 5-Mile Radius and Direct Access to Large Population Base (76,000+ People in 5 Miles)
- Significant Upside: Extremely Low $37/S.F. Asking Price & Easily Replaceable Avg. Rents of Only $6.04/SF w/ Significant Additional Leasing Upside
- Strong Reported Store Sales & Multiple Parceled Outparcel Development Opportunities Included with Sale
- 3 Miles to Wittenburg University: 1,500+ Students & Faculty Combined, Contributing to the Center’s Daily Daytime Traffic
Executive Summary
• Service-Oriented Neighborhood Retail Center with 67% Occupancy: Long-Term, Tenured National Tenants, Including Credit Anchors AutoZone (S&P “BBB”/Moody’s “Baa1), Family Dollar & Ace Hardware
• Extremely Low $37/S.F. Asking Price and Easily Replaceable Average Rents of Only $6.04/SF with Significant Additional Upside Through Lease-Up of Vacant Units and Multiple Outparcel Development Opportunities
• Stabilized 8.00% CAP Rate (Assuming 93% Occupancy) Generating an Estimated $210,000+ Increase to NOI + $2,060,000 in Upside Value, Not Including Any Rental Increases or Outlot Development!!
• Several Tenants with Recent Lease Renewals Further Demonstrating Stability and Quality in the Asset: Rent-a-Center (5-Yr. Renewal, 2,400+ Locations), Family Dollar (5-Yr. Renewal, 7,100+ Locations), AutoZone (10-Yr. Renewal, 7,900 Locations Globally), & Showplace Rent to Own (6-Yr. Renewal, 15 Locations)
• Strong Reported Sales Performance Demonstrates Healthy Consumer Demand and the Property's Established Position Within the Springfield Trade Area
• 3 Miles to Wittenburg University: 1,500+ Students & Faculty Combined, Contributing to the Center’s Daily Daytime Traffic
• Multiple Parceled Off Outparcels Included for Additional Future Upside to NOI (See Page 14 for Details)
• Ideal Demographics with Average Household Incomes of $78,000 Within a 5-Mile Radius and Direct Access to Large Population Base (76,000+ People Within 5-Miles)
• Immediate Access to Springfield's Dominant Retail Corridor: Less Than Two Miles from North Bechtle Avenue Featuring Walmart Supercenter, Meijer, Lowe's, Home Depot, Kohl's, Hobby Lobby, Marshalls, ALDI, Chick-fil-A, Texas Roadhouse, Panera Bread and Numerous Additional National Retailer
• Affordable and Stable Community with a Cost of Living Well Below the National Average, Supporting Long-Term Residential Stability and Consumer Demand
• Springfield is the County Seat of Clark County with Short Commute (29 Miles) to Downtown Dayton and Close Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies
• Surrounded by Major Employers: Konecranes (3 Miles, ~2,000 Employees Nationwide), Mercy Health—Springfield Regional Medical Center (3 Miles, ~2,000 Employees, 220 Beds), Assurant (3 Miles, ~1,600 Employees), Springfield City School District (~1,400 Employees, Serving 7,500 Students in 17 Educational Facilities), Wittenburg University (3 Miles, 1,500 Students & Faculty), and Numerous Public Sector Employers Throughout Clark County
• Extremely Low $37/S.F. Asking Price and Easily Replaceable Average Rents of Only $6.04/SF with Significant Additional Upside Through Lease-Up of Vacant Units and Multiple Outparcel Development Opportunities
• Stabilized 8.00% CAP Rate (Assuming 93% Occupancy) Generating an Estimated $210,000+ Increase to NOI + $2,060,000 in Upside Value, Not Including Any Rental Increases or Outlot Development!!
• Several Tenants with Recent Lease Renewals Further Demonstrating Stability and Quality in the Asset: Rent-a-Center (5-Yr. Renewal, 2,400+ Locations), Family Dollar (5-Yr. Renewal, 7,100+ Locations), AutoZone (10-Yr. Renewal, 7,900 Locations Globally), & Showplace Rent to Own (6-Yr. Renewal, 15 Locations)
• Strong Reported Sales Performance Demonstrates Healthy Consumer Demand and the Property's Established Position Within the Springfield Trade Area
• 3 Miles to Wittenburg University: 1,500+ Students & Faculty Combined, Contributing to the Center’s Daily Daytime Traffic
• Multiple Parceled Off Outparcels Included for Additional Future Upside to NOI (See Page 14 for Details)
• Ideal Demographics with Average Household Incomes of $78,000 Within a 5-Mile Radius and Direct Access to Large Population Base (76,000+ People Within 5-Miles)
• Immediate Access to Springfield's Dominant Retail Corridor: Less Than Two Miles from North Bechtle Avenue Featuring Walmart Supercenter, Meijer, Lowe's, Home Depot, Kohl's, Hobby Lobby, Marshalls, ALDI, Chick-fil-A, Texas Roadhouse, Panera Bread and Numerous Additional National Retailer
• Affordable and Stable Community with a Cost of Living Well Below the National Average, Supporting Long-Term Residential Stability and Consumer Demand
• Springfield is the County Seat of Clark County with Short Commute (29 Miles) to Downtown Dayton and Close Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies
• Surrounded by Major Employers: Konecranes (3 Miles, ~2,000 Employees Nationwide), Mercy Health—Springfield Regional Medical Center (3 Miles, ~2,000 Employees, 220 Beds), Assurant (3 Miles, ~1,600 Employees), Springfield City School District (~1,400 Employees, Serving 7,500 Students in 17 Educational Facilities), Wittenburg University (3 Miles, 1,500 Students & Faculty), and Numerous Public Sector Employers Throughout Clark County
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
84,335 SF
Building Class
B
Year Built/Renovated
1960/2017
Price
$3,145,000
Price Per SF
$37.29
Cap Rate
6.50%
NOI
$204,508
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.16
Lot Size
11.84 AC
Parking
500 Spaces (5.93 Spaces per 1,000 SF Leased)
Frontage
756’ on S S Burnett Rd Rd
Amenities
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
- Monument Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Ace Hardware
- -
- 21,000 SF
- -
- Triple Net
- May 2030
- Antonio Wireless
- -
- 640 SF
- -
- Triple Net
- -
- AutoZone (S&P BBB)
- -
- 8,067 SF
- -
- Triple Net
- Apr 2036
- El Comal Mexican Restuarant
- -
- 1,440 SF
- -
- Triple Net
- -
- El Gran Sol Grocery
- -
- 2,400 SF
- -
- Triple Net
- -
- Family Dollar
- -
- 10,660 SF
- -
- Triple Net
- Jan 2031
- Mr. Appliance
- -
- 1,967 SF
- -
- Triple Net
- -
- Rent-A-Center
- -
- 4,200 SF
- -
- Triple Net
- Nov 2031
- Show Place Rent to Own
- -
- 5,000 SF
- -
- Triple Net
- Oct 2032
- T&M Pool & Spas
- -
- 665 SF
- -
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Ace Hardware | - | 21,000 SF | - | Triple Net | May 2030 | |
| Antonio Wireless | - | 640 SF | - | Triple Net | - | |
| AutoZone (S&P BBB) | - | 8,067 SF | - | Triple Net | Apr 2036 | |
| El Comal Mexican Restuarant | - | 1,440 SF | - | Triple Net | - | |
| El Gran Sol Grocery | - | 2,400 SF | - | Triple Net | - | |
| Family Dollar | - | 10,660 SF | - | Triple Net | Jan 2031 | |
| Mr. Appliance | - | 1,967 SF | - | Triple Net | - | |
| Rent-A-Center | - | 4,200 SF | - | Triple Net | Nov 2031 | |
| Show Place Rent to Own | - | 5,000 SF | - | Triple Net | Oct 2032 | |
| T&M Pool & Spas | - | 665 SF | - | Triple Net | - |
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 34-00700-02221-0015 | Improvements Assessment | $53,720 |
| Land Assessment | $108,990 | Total Assessment | $162,710 |
Property Taxes
Parcel Number
34-00700-02221-0015
Land Assessment
$108,990
Improvements Assessment
$53,720
Total Assessment
$162,710
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Incredible Value-Add Nationally Anchored Ctr. | 432-634 S Burnett Rd
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