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28333431
28333432

948 Old State Rte 74, Batavia, OH 45103

AR
OH SAL.2024002863
Marcus & Millichap - Columbus
CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus
$3,550,000
199 days on market
Updated 94 days ago

Eastgate Shopping Center

Details
APN 413105C227, 413105C234
Property Type Retail
Sub Type Shopping Center
Square Footage 20,520
Units 16
Cap Rate 7.5%
NOI $266,192
Occupancy 94%
Pro-Forma Cap Rate 8.21%
Price per SqFt $173
Year Built 1992
Acreage 3.256

94% Occupied 20,520 SF Multi-Tenant Shopping Center Located Along Old State Route 74 | Direct Access

Investment highlights

  • 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%

Listing Contacts

AR
OH SAL.2024002863
Marcus & Millichap - Columbus
CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$266,192.00
$22,182.67/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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Additional Information

Name
Ashley Riegert
License
SAL.2024002863
Brokerage
Marcus & Millichap
Brokerage Phone
6143609033
Brokerage Address
500 Neil Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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