Crossing of Colerain

Cincinnati | Ohio

Offering Summary

  • Status: price reduced
  • Price: $8,140,000
  • Cap Rate: 8.50%
  • GLA: 85,849 SF
  • Net Operating Income: $692,129
  • Price/SF: $95
  • Year(s) Built: 1989
  • Lot Size (Acres): 6.693
  • Major Tenants: Next Level Fitness and Training, Sky Zone (ROCKIN’ JUMP), Caliber Collision, CSL Plasma
  • 100% Occupied, 85,849 SF Community Shopping Center in Cincinnati, OH
  • 5.5 Years Weighted Average Lease Term Remaining; No Near-Term Rollover – All Leases have Term thru 2027 or Longer
  • Low $8.25/SF NNN Average Rent & Priced Below Replacement Cost at $95/SF
  • Offered Free & Clear of Debt Allowing Purchaser to Pursue New Financing According to Investment Strategy
  • Anchored by Next Level Fitness & Training, Sky Zone (ROCKIN’ JUMP) & Caliber Collision (Collectively 79.2% of GLA)
  • Next Level Fitness & Training (30% of GLA) – 10-Year Lease thru October 2027; Low $5.52/SF Base Rent; 3-Unit Operator
  • Sky Zone (ROCKIN’ JUMP) (29% of GLA) – NNN Lease thru December 2028; Proven 16-Unit Operator In-Place at Site Since 2016
  • Caliber Collision (20.5% of GLA) – NNN Lease thru March 2031 w/ 10% Rent Increase in 2025; Top-Tier National Operator with 1,700 Locations in 41 States
  • CSL Plasma (11.3% of GLA) – In-Place Since 2016 with NNN Lease thru April 2032; 10% Rent Increase in 2027
  • Only Two True Small-Shop Units – My Eye Dr (In-Place Since 1990 Leased into 2028) & Mint Dentistry (In-Place Since 2008, Leased into 2029 w/ 2.5% Annual Increases)
  • My Eye Dr & Mint Dentistry are both National Operators with 700 and 105 Locations, Respectively
  • All Tenants Leased to Pro Rata, Uncapped NNN Terms Incl. Reimbursement of Mgmt Fees – Zero Operating Expense Slippage
  • All Tenants are Multi-Unit National or Regional Operators
  • Ease of Management with Only Six Tenants; 3 of 6 Tenants are Larger (>17,000 SF) Units with Only 9.5% of GLA (2 Units) of Small-Shop Space
  • Highway-Visible Property Located at Ohio Route 126 Exit Ramps (22,450 VPD)
  • Situated Along Colerain Ave (38,908 VPD) – Primary North-South Arterial & Commercial Corridor Serving Cincinnati’s Near-North Suburbs
  • Attractive Masonry & Brick Stamped EIFS Facade; Roof Replaced in 2016 with 20-Year Carlisle Warranty
  • Over $120K Invested by Seller to Acquire Adjacent Parcel to Build & Engineer Retaining Wall and Add Additional Parking Lot for Caliber Collision
  • Located Directly Across from Walmart Supercenter and within Close Proximity to Home Depot, Target, Kroger Marketplace, Aldi, Ross, Big Lots, Best Buy, JCPenney, Meijer, Hobby Lobby, and More
  • Dense Middle Income Demographics with 12,500/1-Mi, 95,400/3-Mi & 184,300/5-Mi Population Counts; AHHI of $70-76K
  • Cincinnati MSA – Home to a Population of Over 2.2M & Five Fortune 500 HQs; Center of a Broad Tri-State Area with and the Largest GDP in Ohio ($171 Billion)
EXCLUSIVELY LISTED BY:

Erin Patton

Senior Managing Director