Burnett Plaza
Retail | 6.50% CAP | 84,335 SqFt
Marketing description
Springfield sits as the county seat and has long served as the commercial and civic center of Clark County, offering a unique blend of Midwestern affordability, regional accessibility, and economic resilience. Positioned a little over 25 miles northeast of Dayton and 45 miles west of Columbus, the city benefits from its location between two of Ohio's largest employment centers while maintaining the convenience and character of a close-knit community. As one of Southwest Ohio's longstanding industrial and retail hubs, Springfield continues to attract residents and businesses seeking a strategic location with a lower cost of living and a stable economic foundation.
The city's connectivity has played a significant role in its continued growth and relevance. Springfield is situated at the crossroads of Interstate 70 and U.S. Route 68, providing direct access to Columbus, Dayton, Indianapolis, and the broader Midwest. Interstate 75, Interstate 71, and Interstate 675 are all within a short drive, strengthening the region's position as an attractive destination for distribution, manufacturing, and commerce. Dayton International Airport is located approximately 30 miles west of the city, while John Glenn Columbus International Airport is roughly 45 miles east, offering convenient access for both business and leisure travelers.
Springfield's economy has evolved well beyond its manufacturing roots into a diverse mix of healthcare, education, logistics, government, and advanced industry. Major employers include Konecranes (3 miles, ~2,000 employees nationwide), a global leader in material handling solutions with a significant local presence, Assurant (3.5 miles, ~1,600 employees), Springfield City School District (~1,400 employees, 7,500+ students across 17 educational facilities), and numerous public-sector employers throughout Clark County. The community also benefits from its proximity to the employment drivers of both the Dayton and Columbus markets, creating a broad and stable labor pool that supports long-term economic activity.
Healthcare remains one of the region's strongest sectors. Mercy Health – Springfield Regional Medical Center (3 miles, 2,000+ employees) serves as the area's primary healthcare provider and a major source of employment, offering approximately 220 beds and comprehensive medical services to residents throughout Clark County and the surrounding communities. The broader region is further supported by nationally recognized systems including Premier Health, OhioHealth, and The Ohio State University Wexner Medical Center (one of the nation’s leading academic medical systems), reinforcing Springfield's access to quality care and specialized treatment options.
Education and workforce development continue to strengthen Springfield's long-term outlook. Wittenberg University, a respected private liberal arts institution located within the city, enrolls approximately 1,400 students and 500 employees, and contributes to the area's intellectual and cultural fabric. Clark State College serves more than 5,000 students annually through workforce training and academic programming designed to meet regional employment needs. Together with nearby institutions such as Wright State University (~11,900 students and ~1,100 faculty), the University of Dayton (~10,500 students and ~1,000 faculty), and The Ohio State University, one of the largest universities in the nation with more than 60,000 students. These schools provide a steady pipeline of skilled talent for local employers.
Beyond its economic fundamentals, Springfield offers a quality of life rooted in community pride and accessibility. Residents enjoy attractions such as the Frank Lloyd Wright-designed Westcott House, Buck Creek State Park, and the extensive National Trail Parks and Recreation District. The city's thriving Bechtle Avenue corridor serves as Springfield's primary retail destination, drawing shoppers from across the region with its concentration of national retailers, restaurants, hotels, and everyday conveniences. Combined with easy access to the cultural amenities and professional sports offerings of Dayton and Columbus, Springfield provides an appealing balance of small-city charm and metropolitan accessibility.
With its strategic location, established retail corridors, diverse employment base, and longstanding role as a regional destination, Springfield continues to offer the stability and connectivity that support long-term commercial investment throughout Southwest Ohio.
Investment highlights
- Service-Oriented Neighborhood Retail Center with 67% Occupancy: Long-Term, Tenured National Tenants, Including Credit Anchors AutoZone (S&P "BBB"/Moody's "Baa1), Family Dollar & Ace Hardware
- Extremely Low $37/S.F. Asking Price and Easily Replaceable Average Rents of Only $6.04/SF with Significant Additional Upside Through Lease-Up of Vacant Units and Multiple Outparcel Development Opportunities
- Stabilized 8.00% CAP Rate (Assuming 93% Occupany) Generating an Estimated $210,000+ Increase to NOI + $2,060,000 in Upside Value, Not Including Any Rental Increases or Outlot Development!!
- Several Tenants with Recent Lease Renewals Further Demonstrating Stability and Quality in the Asset: Rent-a-Center (5-Yr. Renewal, 2,400+ Locations), Family Dollar (5-Yr. Renewal, 7,100+ Locations), AutoZone (10-Yr. Renewal, 7,900 Locations Globally), & Showplace Rent to Own (6-Yr. Renewal, 15 Locations)
- Strong Reported Sales Performance Demonstrates Healthy Consumer Demand and the Property's Established Position Within the Springfield Trade Area
- 3 Miles to Wittenburg University: 1,500+ Students & Faculty Combined, Contributing to the Center's Daily Daytime Traffic
- Multiple Parceled Off Outparcels Included for Additional Future Upside to NOI (See Page 14 for Details)
- Ideal Demographics with Average Household Incomes of $78,000 Within a 5-Mile Radius and Direct Access to Large Population Base (76,000+ People Within 5-Miles)
- Immediate Access to Springfield's Dominant Retail Corridor: Less Than Two Miles from North Bechtle Avenue Featuring Walmart Supercenter, Meijer, Lowe's, Home Depot, Kohl's, Hobby Lobby, Marshalls, ALDI, Chick-fil-A, Texas Roadhouse, Panera Bread and Numerous Additional National Retailer
- Affordable and Stable Community with a Cost of Living Well Below the National Average, Supporting Long-Term Residential Stability and Consumer Demand
- Springfield is the County Seat of Clark County with Short Commute (29 Miles) to Downtown Dayton and Close Proximity to Several Colleges/Universities and Numerous Other High-Profile Companies
- Surrounded by Major Employers: Konecranes (3 Miles, ~2,000 Employees Nationwide), Mercy Health—Springfield Regional Medical Center (3 Miles, ~2,000 Employees, 220 Beds), Assurant (3 Miles, ~1,600 Employees), Springfield City School District (~1,400 Employees, Serving 7,500 Students in 17 Educational Facilities), Wittenburg University (3 Miles, 1,500 Students & Faculty), and Numerous Public Sector Employers Throughout Clark County
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