Listed by Marcus & Millichap - Columbus
$2,917,000
Forest Park Plaza
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 51,621
Net Rentable (SqFt) 51,621
Cap Rate 9.00%
Occupancy 100%
Tenancy Multi
Brand/Tenant Family Dollar
Lease Type Gross
Remaining Term 3
Price per SqFt $57
Year Built 1966
Year Renovated 1994
Acreage 10.860
100% Occupied 51,621 SF Neighborhood Retail Center in Cincinnati, Ohio
Investment highlights
- 100% Occupied 51,621 SF Neighborhood Retail Center Positioned at Signalized Intersection in Cincinnati’s Forest Park Submarket
- Dense Residential Surroundings | 10,000+ Residents within 1 Mile | 59,000+ Within 3 Miles | AHHI $80K
- Within the Greater Cincinnati MSA, Home to Over 2.2 Million Residents
- High Yield Opportunity – Offered at 9.00% Cap - Priced Below Replacement Cost at $57/SF Offering Includes Two OutParcels – 1) Occupied by Free Standing Restaurant 2) .7 Acre Developable Outparcel
- Average Rent Per Square Foot of $6.84 – Major Mark to Market Opportunity – Limited Options Remain
- Family Dollar Ranks in the Top 22% Nationwide and Top 16% in Ohio for Sales Performance | #1 Family Dollar Store within a 15-Mile Radius Per Placer.ai | Top 28% Foot-Traffic in Hamilton County, Top 23% in Ohio, and Top 7% Within 15 Miles
- Majority (55% of GLA) of Tenants on Gross Leases - Opportunity to Transition to NNN
Listing Contacts
Listed by Marcus & Millichap - Columbus
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