Major Tenants: Variety Wholesalers dba Big Lots, Ollie's Bargain Outlet, Bealls, Harbor Freight Tools, Dollar Tree, Rent-A-Center, Sherwin Williams
86% Occupied, 182,738-SF Community Shopping Center Situated on 15.5 Acres | Strong National and Value-Oriented Tenant Mix
97.3% National Tenant Base Including Variety Wholesalers (dba Big Lots), Ollie’s Bargain Outlet, Harbor Freight, Dollar Tree, Bealls, & Sherwin Williams
5.25 Year WALT | Durable, Daily-Needs and Discount-Oriented Tenancy | Well-Positioned for Performance Across Economic Cycles
New Variety Wholesalers (dba Big Lots) Lease Executed Through August 2033 (Estimated) | Demonstrated Continued Leasing Demand for Large-Format Discount Retail
Ollie’s Bargain Outlet Anchored with Lease Through December 2032 | Publicly Traded Operator (NASDAQ: OLLI) with 600+ Locations Nationwide
Shadowed by High-Performing Kroger | 1M+ T12 Visits (Top 15% in Ohio) Driving Consistent Cross-Shopping Traffic (Placer.ai)
Strong Traffic Exposure Along Two Major Roadways | Route 18 with 27,117 VPD and Route 224 with 9,866 VPD
High Traffic/Performing Trade Area: Top 10% in State = Tractor Supply, Taco Bell, McDonalds, Dollar Tree, Arby’s, Bob Evans, Ollie’s; Top 25% in State = Kroger, Burger King, Dunkin (Placer.ai)
Attractive Basis at $39/SF | Offered at an 8.6% Cap Rate Well Below Replacement Cost
Security Via Low Rents: $4.82/SF All-In Avg. Box Rent, $7.36/SF All-In Avg. Shop Rent; 9 of 11 Tenants with All-In Occupancy < $10/SF
College-Town Location: Home to Tiffin University & Heidelberg University (5,000+ Combined Students)
2.8% CAGR (10-Yr); 16.54% Leveraged IRR Projected on 5-Year Basis, 15.56% on 7-Year Basis
Recent Façade Improvements Provide Strong Curb Appeal
Tiffin, OH – County Seat of Seneca County; Stable Middle-Income NW Ohio College Town with 25K Population & $65K AHHI (5-Mi Radius)