Listed by The Gilbert Group
$2,900,000
101 S Fountain Ave
Details
Property Type Retail, Mixed Use
Sub Type Commercial
Square Footage 25,000
Units 2
Cap Rate 6.75%
NOI $270,000
Class C
Year Built 1916
Acreage 1.010
Zoning CB-10-UPOD
Retail | 6.75% CAP | 25,000 SqFt
Marketing description
Introducing 101 S Fountain Ave, Springfield, OH - an exceptional 25,032 SF (including basement) street retail property with a rich history dating back to 1916. This versatile asset offers two units, each brimming with potential for retail or mixed-use development. Zoned CB-10-UPOD, it presents an outstanding opportunity for a retail investor seeking a prime location in Springfield. With ample space and a desirable vintage charm, this property is poised to become a cornerstone of the local retail landscape. Don't miss out on the chance to own a piece of history and shape the future of retail in this vibrant community.
Discover the vibrant retail landscape surrounding the property in Springfield, OH. This sought-after area is a hub of activity, with a diverse mix of local businesses, dining establishments, and entertainment venues that draw a steady flow of visitors and potential customers. The location benefits from its proximity to notable points of interest like the Heritage Center Museum, Wittenberg University, and Snyder Park. With a strong sense of community and a thriving commercial presence, this area offers an enticing opportunity for a retail investor looking to tap into a dynamic market with significant growth potential. Embrace the energy of Springfield and make your mark in this bustling retail destination.
Investment highlights
- New five-year lease with two five-year options executed
- Corporate signature with entity (COHatch) that has 31 locations throughout 5 states with an estimated revenue of $23.4M
- Prime location in the heart of downtown Springfield, surrounded by ongoing urban development
- Equipped with modern amenities including a commercial kitchen, audio-visual infrastructure, and outdoor gathering spaces
- Owner made extensive property renovations in 2022 including new HVAC, plumbing, roof, and electrical distribution
- Population of 58,887 within a three-mile radius
Listing Contacts
Listed by The Gilbert Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$270,000.00
$22,500.00/mo
Valuation Metrics
0
DSCR
9.31%
Cap Rate
9.31%
ROI
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