670-742 W National Rd
Vandalia, OH 45377
Retail Property For Sale

The Dumes Falk Group of Marcus & Millichap is pleased to bring to market Imperial Plaza, a 59,495-square-foot community shopping center located in Vandalia, Ohio, a northern submarket of Dayton. Dayton is the county seat of Montgomery County and the fourth-largest metropolitan in the state. The subject property sits on approximately 6.42 acres with ample parking, multiple points of ingress/egress, excellent signage and unabstracted visibility from U.S. Route 40 (National Road). Imperial Shopping Center is currently 90 percent occupied with 10 percent, or 5,970-square feet of realizable vacancy upside. Leasing up these vacant units at market rents could potentially add an additional $60,000 to the NOI. The tenant base consists of a complimentary mix of local, regional and national tenants that supply the consumers with a wide range of products and services to meet the needs of its consumers. These needs include discount goods, beauty supplies, car rentals, moving assistance, a brewery, gift shop, pharmacy and dining options. Situated along U.S. Route 40, also known as the Main Street of America, is a highly trafficked, east-west commuter thoroughfare that sees approximately 20,000 vehicles per day. Located directly across from the Dayton International Airport, the center sees constant traffic from daily commuters. Positioned as one of only two multi-tenant retail centers around, the high traffic and lack of buildable sites will maintain the tenant demand and rental rates for this corridor, which directly connects commuters to both the International Airport and Interstate-75. Dayton's economy is relatively diversified and vital to the overall economy of the state of Ohio. In 2008, 2009, and 2010, Site Selection magazine ranked Dayton the #1 mid-sized metropolitan area in the nation for economic development. Also in 2010, Dayton was named one of the best places in the United States for college graduates to find a job. Within five-miles of the subject property are more than 64,000 residents and 65,000 employees. The average household incomes within five-miles exceed $71,000. The center is also 21-miles away from Wright Patterson Air Force Base, which accounts for 27,500 employees. Imperial Plaza provides an incoming investor the ability to acquire a value-add neighborhood center occupied by internet-resistant tenants within a stabilized market. Strong local demographics and a prominent location within the corridor provides Imperial Plaza the ability to be an integral part of the community and will undoubtedly continue to serve as an invaluable shopping destination for many years to come.