Springfield Small Shops

Springfield | Ohio

Offering Summary

  • Status: active
  • Price: $4,310,000
  • Cap Rate: 7.0%
  • GLA: 11,735 SF
  • Net Operating Income: $302,187
  • Price/SF: $367
  • Year(s) Built: 1994
  • Lot Size (Acres): 1.24
  • Major Tenants: Aspen Dental, Shawnee Optical, Hearing Life, Wild Bill's Tobacco, Lee Nail Spa, Supercuts
  • 100% Occupied Multi-Tenant Strip Center Anchored by Service-Oriented Tenants
  • NNN Lease Structure Across All Tenants Minimizing Landlord Responsibilities
  • Diverse Tenant Mix Focused on Internet-Resistant Uses (Medical, Personal Care, Service Retail)
  • Proven Tenant Tenure | Five of Six Tenants Have Occupied the Center Since 2008–2017 | Demonstrated Commitment to the Location
  • Naked Leases with No Options on Three of Six Tenants.  Remaining Three Tenants Each Only Have One Option Remaining
  • Located Along N Bechtle Avenue — Springfield’s Primary Retail Corridor | 22,280 VPD on N Bechtle Avenue | 25,410 VPD on Nearby Route 68 (Source: Ohio Department of Transportation)
  • Positioned Within Springfield’s Dominant Power Retail Trade Area | Surrounded by Walmart, Lowe’s, Meijer, Kohl’s, Best Buy, PetSmart, Hobby Lobby, Academy Sports + Outdoors, Marshalls and Five Below
  • Proven Rent Roll with In-Place Rents Averaging ~$25/SF and Embedded Growth via Lease Escalations
  • Reasonable Average Rents at $25.57/SF for well Located Shallow Bay Retail
  • Strong 1-Mile Average Household Income of $92K (Source: Costar)
  • Over $900M in Consumer Spending Within 5-Mile Radius (Source: Costar)
  • Strategic Dayton–Columbus Corridor Location | Approximately 25 Miles Northeast of Dayton and 45 Miles West of Columbus | Direct Regional Connectivity via I-70 and U.S. Route 68
  • 17 Miles from Wright-Patterson Air Force Base | Ohio’s Largest Single-Site Employer with 38,000+ Employees | Approximately $6.5 Billion Annual Economic Impact per Year (Source: Wright-Patterson Air Force Base)
  • Diversified Regional Employment Base | Major Employers Include Mercy Health, Assurant, Navistar, Speedway, Ohio Air National Guard and Wright-Patterson AFB
  • Proximity to Wittenberg University | Approximately 1.8 Miles / 6 Minutes Away | ~1,300 Undergraduate Students | 600+ Local Employees | $70 Million Estimated Local Economic Impact (Source: Wittenberg University)
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director