Sharonville Plaza
Value-Add Convenience Center in Cincinnati Infill Corridor
Marketing description
CBRE’s Retail Investment team is proud to offer for sale the fee simple interest in a multitenant shopping center with significant upside located in Sharonville, OH, a northern suburb of Cincinnati. Sharonville Plaza totals approximately 31,700 square feet. The Sharonville submarket represents a high-performing, infill retail corridor driven by strong household incomes, significant daytime employment, and exceptional regional accessibility near the intersection of I-75 and I-275. The property’s daily-needs, service-oriented tenant mix represents an e-commerce resistant tenancy profile with a high-frequency visit pattern well-suited to today’s retail investment environment.
The offering provides an opportunity to acquire a well-located strip with significant value add potential. With a 1.79-year WALT and all tenants except for Elite Mobile Tint and Luxuriant Nail Salon being fully Gross leases with no renewal options, there is a near term path to an outsized return that is rare in today’s retail investment world. At 100% occupancy with consistent in-place NOI exceeding $375,000 and demonstrated tenant tenure across the center, Sharonville Plaza offers investors the rare combination of durable cash flow and near-term mark-to-market upside.
Investment highlights
Value Add Opportunity: Short 1.79‑year WALT and minimal renewal rights support value add return levels.
Below Market Rents: The average current gross rent at the property is $16.42/SF. We estimate gross market rents at roughly $21.50/SF for the larger spaces and $26.50/SF for the <3,000 SF spaces.
Demographics: Dense 5‑mile population (143,600) with high average household income ($147,400).
Gross Leases: Predominantly gross leases allowing the next investor to convert from Gross to Net reimbursement structures to further increase NOI.
Submarket Strength: Infill retail location with strong incomes, employment density, and highway access to I‑75 and I‑275.
Nearby Activity: Shadow‑anchored by national retailers with additional nearby development, including Kroger.
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