Eastgate Shopping Center

Batavia | Ohio

Offering Summary

  • Status: accepted offer
  • Price: $3,550,000
  • CAP Rate: 7.50%
  • GLA: 20,520 SF
  • Net Operating Income: $266,192
  • Price/SF: $173
  • Year(s) Built: 1992
  • Lot Size (Acres): 3.256
  • Major Tenants: Cullen Electric, The Meat Store, Busken Bakery
  • 94% Occupied 20,520 SF Multi-Tenant Shopping Center Located Along Old State Route 74 | Direct Access to SR-32 (70,000 VPD
  • Anchored by Long-Term Medical & Service Tenants | Established Occupancy History with Renewals in Place
  • Average Rents of $14.17/SF with Majority of Tenants Having No Options
  • Offered Below Replacement Cost at $173/SF
  • Located at Hard Corner Across from CVS and United Dairy Farmers Convenience Store
  • Landlord-Friendly NNN Structures Provide Predictable Cash Flow and Reimbursement of Expenses
  • Surrounded by Major Retailers including Meijer, Walmart, Kroger and Sam’s Club
  • 94% Occupied Asset with a Diversified Tenant Mix Mitigating Vacancy Risk
  • Dense Demographics with 104,000+ Residents Within 5 Miles | AHHI Near $100,000
  • Located in the Cincinnati MSA (2.25 Million Residents, $152 Billion GDP, 7 Fortune 500 Headquarters)
  • Cincinnati Region Has Experienced 4.2% Population Growth Over the Past Decade
  • Proximate to Dense Retail & Medical Corridor, Including Regional Draws Such as Eastgate Mall
  • Ample Surface Parking (70 Spaces) with Modern Masonry Construction (Built 1992)
  • Median Home Values Exceed $240K Within 5 Miles, Supporting Affluent Spending Patterns
  • Located in a Rapidly Developing Submarket East of Cincinnati with Ongoing Population Growth
  • Excellent Regional Connectivity via SR-32 and I-275 Loop – Major Commuter Corridor to Downtown Cincinnati
  • Lease Up Of The 1,200 SF Vacancy at $17/SF Would Increase NOI by $25,240 and Cap Rate Would Go Up To 8.21%
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director