North Heights Plaza

Huber Heights, Ohio

Offering Summary

  • Status: active
  • Price: $8,820,000
  • CAP Rate: 8.80%
  • GLA: 113,732 SF
  • Net Operating Income: $772,610
  • Price/SF: $77.55
  • Year(s) Built: 1990
  • Lot Size (Acres): 12.79
  • Major Tenants: Hobby Lobby, Bed Bath & Beyond, American Freight
  • 100% Occupied, 113,732 SF Hobby Lobby (Lease Exp. June 2029) Anchored Shopping Center in Dayton, OH
  • Hobby Lobby Sees Over 462,000 Customer Visits Annually – #3 Store in Ohio and Top 7% of Traffic for Hobby Lobby Nationally (Source: Placer.AI, Trailing 12 Months)
  • Junior Boxes Include Bed Bath & Beyond (Lease Exp. Jan 2025) and American Freight (Lease Exp. June 2024)
  • Ease of Management: Hobby Lobby Coordinates and Manages Maintenance Items with Exception of Roof and Outer Walls and All Tenants on NNN Leases
  • New Roof Coating in 2019 ($300k+ Cost)
  • Offers 13.60% Year 1 Cash-on-Cash Return & 21.75% 10-Year IRR at Proposed Financing Terms
  • Upside Potential in Partial Outparcel Ground Lease Ownership and Developable Land Adjacent to Shopping Center
  • Signalized Entrance with Dedicated Signage on Old Troy Pike and ¼ Mile From Intersection with Interstate 70; 101,356 Vehicles Per Day
  • 12 Miles From Wright-Patterson Air Force Base – Largest Single Site Employer in State of Ohio with 30,000+ Employees
  • Prominent National Tenants in the Vicinity Include Target, Lowe’s, Kohl’s, Big Lots, Burlington, Five Below Dick’s, Marshalls, At Home & Dozens More
  • Dominant Regional Retail Corridor Serving the North Dayton Trade Area with Strong Middle to Upper Income Demographics: 80,531 Residents in 5-Miles, AHHI of $76,073within 5 Miles

Erin Patton

Senior Managing Director