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34449610
34449611

911 CROSSINGS RD, SANDUSKY, OH 44870 For Sale

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus
$4,166,000
1 day on market
Updated 1 day ago

Crossings of Sandusky

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 19,894
Net Rentable (SqFt) 19,894
Units 7
Cap Rate 7.75%
NOI $322,839
Occupancy 100%
Tenancy Multi
Year Built 2006
Buildings 1
Stories 1
Acreage 1.810
Investment Type Stabilized
Ground Lease No

Crossings of Sandusky | Inline Strip w Replaceable Rents

Investment highlights

100% Occupied, 19,894 SF NNN Strip Center in Sandusky, Ohio – Prominent Tourist Market

• Part of the Larger Crossings of Sandusky Regional Shopping Center with 3.3 Million Annual Visits |

Includes Home Depot, Sam’s Club, Kohl’s, Dollar Tree, and Petco all Acting as Shadow-Anchors

and Driving Additional Traffic to the Property

• Anchored by Famous Footwear (31% of GLA) on NNN Lease thru May 2029; Prime Endcap Space

with High-Image Façade & Prominent Signage

• Diversified, Durable Tenant Base with Several E-Commerce-Proof Service-Oriented Businesses

Including America’s Best Eye Center, Hollywood Nails, Tropical Smoothie Cafe, European Wax

Center, and Sports Clips

• Staggered Expirations with 4 of 7 Tenants Leased into 2029 or Longer and 2 Tenants Leased into

2031 or Longer

• Constructed in 2006 with High-Image Facades, Prominent Signage, and Strong Visibility

• Ease of Management with Only 7 Tenants, Mostly National Tenancy, and All NNN Leases with Many Tenants Also Reimbursing Mgmt Fees and/or Paying Admin Fees on CAM

• Reasonable and Replaceable Rent Levels Averaging $16.55/SF NNN

• Situated in the Middle of Sandusky’s Primary Retail Corridor that has a Large Regional Draw and Features Neighboring Retailers Walmart, Lowe’s, Menards, Meijer, Target, Hobby Lobby, Best Buy, J.C. Penney, T.J. Maxx, Harley-Davidson, and Dozens of Restaurants

• Affluent Demographics - AHHI of $99K within a One-Mile Radius

• Dynamic Market with Supportive Demographics – Stable Year-Round Population Base, Regional Draw, and a High Volume of Seasonal Employees and Tourism Traffic

• Sandusky Anchors the “Lake Erie Shores & Islands” Tourism Region which sees Over 11 Million Visitors Annually / $2.1 Billion Annual Impact

• Sandusky Sees 3.6 Million Annual Visitors from Cedar Point Alone – Top Amusement Park in the United States

• Other Tourist Attractions in Sandusky Include 3 Indoor Water Park Resorts, an Outdoor Waterpark, and a Massive Indoor/Outdoor Sports Facility

• Located on Milan Road/Route 250 with 31,265 VPD, Just 0.4-Mi North of Ohio Route 2 Highway Exit Ramps with 27,610 VPD

• Sandusky MSA – Home to a Population of 75,000, 1 Hour West of Cleveland and 1 Hour East of Toledo

Listing Contacts

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$322,839.00
$26,903.25/mo

Valuation Metrics

0
DSCR
7.75%
Cap Rate
7.75%
ROI

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