5025-5033 Delhi Pike
Cincinnati, OH 45238
Delhi Shopping Center · Retail Property For Sale

Marcus & Millichap is pleased to present Delhi Shopping Center, a 138,676 square foot grocery anchored shopping center located in Cincinnati, Ohio. Currently 67% occupied, this offering consists of a multi-tenant center with Remke Markets and Aspire Fitness as tenants along with three outparcels: a corporate Dunkin Donuts, an Arby’s guaranteed by a large regional franchisee and Wild Mike’s, a local restaurant which has been operating here for over 10 years. Dunkin Donuts and Arby’s are both new at this site with the Dunkin Donuts having been constructed in 2014 and the Arby’s in 2015. A grocery use has had a long term presence at this site with Bigg’s (a division of SuperValu) having taken the space over from Kmart in 2003. In 2010, Remke Markets bought out the Cincinnati area Bigg’s locations which is what is operating today at the site. In early 2017, Remke was acquired by Fresh Encounter Inc., a regional grocery chain that operates 59 locations in three states. This is a strategic location for them as the center is located directly across the street from a Kroger anchored property. Remke recently signed an amendment to resize their space to reflect a greater similarity to other Remke locations. In doing so, they also extended the lease two years through 2020. Aspire Fitness moved in to their space in 2014 and recently signed an amendment to more than double their size and start a brand new 10 year lease term expiring in 2028. The Delhi area is a dense infill area located in Cincinnati’s west side approximately five miles from downtown. There are almost 195,000 people living within five miles of the property and Delhi Pike sees over 20,000 vehicles per day pass the subject property. The past few years have brought a number of new developments to this particular retail corridor including a number of newer single tenant outparcels such as the Arby’s and Dunkin Donuts at this site along with a Chipotle, Waffle House and Dollar Tree nearby. The property is offered at an attractive cap rate of 8.25% which equates to an estimated cash on cash return of 10.85% on current income. At full occupancy, these increase to 13.3% and 27.78% respectively.