Buttermilk Crossing & Northern Tool
Retail | 7.25% CAP | 78,125 SqFt
Investment highlights
• 90% Occupied 53,357 SF Neighborhood Retail Center + Free Standing STNL Northern Tool Situated Along Buttermilk Pike
• Prime Visibility with 39,140 VPD on Buttermilk Pike and 147,360 VPD on I-71/I-75
• Upside Available through Lease Up of 3 Vacancies, Additionally 26% of Occupied Shop Space GLA has No Options Remaining
• Diverse Tenant Mix Featuring Food, Service, and Daily-Needs Retailers Such as Domino’s, Penn Station, Great Clips, H&R Block, and The UPS Store
• Close to $600,000 in Landlord Investments to Shopping Strip within Past 2 Years Including New Roofs and Parking Lot
Resurfacing (2023) and Updates to Façade (2024)
• Highway Visible Center with Signage to 165,000 VPD on I-71; Dedicated Pylon Sign along/above I-71 & Just off Exit Ramps at Buttermilk Pike
• Complete 2023 Renovation of Former Staples Box into Freestanding Northern Tool; Over $1.1 Million Invested by Seller in Renovations & TIA
• 10-Year NNN Lease with Northern Tool | Minimal Landlord Responsibility – Roof & Structure Only
• In Place Rental Increases and Vacancy Upside Produce Attractive CAGR of 3.52%
• 10-Year Unleveraged IRR of 10% | Leveraged IRR of 16% | DSCR of 1.34x
• Opportunity to Spin Off Northern Tool Property for CAP Arbitrage – Separately Parceled
• Perpetual Rights to Additional Parking in the Adjacent Municipally-Owned Parking Garage at No Cost to Landlord or Tenants
• Dense Infill Location with 193,000+ Residents Within 5 Miles and Average Household Income Exceeding $100,000
Within 1 Mile
• Located Near the $200M Ormsby Senior Living Development Featuring 203 Residences, Restaurants, and Hotel —Under Construction, Opening 2026
• Situated within the Buttermilk Pike (39,140 VPD) Retail Pocket at I-71; Neighboring Retailers Include Home Depot, Sportsman’s Warehouse, Remke, Esporta Fitness, Walgreens, Advance Auto, Sherwin-Williams, and More
• Situated 6.5 Miles from Downtown Cincinnati and 8 Miles from Cincinnati/ Northern Kentucky International Airport
• Cincinnati MSA – Home to a Population of Over 2.2M & Five Fortune 500 HQs; Anchors a Broad Tri-State Area with the Largest GDP in Ohio ($171 Billion)
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