432-634 S Burnett Rd - Retail FOR SALE


Springfield, OH 45505
$3,145,000 USD
440-915-7902
432-634 S Burnett Rd, Springfield, OH for Sale
$3,145,000 USD
Retail - FOR SALE
1/17
null | 6.5% Cap Rate

432-634 S Burnett Rd
Springfield, OH 45505


HIGHLIGHTS

  • Neighborhood Retail Center: 67% Occup: Long-Term, Tenured National Tenants, Including Credit Anchor AutoZone (S&P BBB) , Family Dollar & Ace Hardware
  • Significant Upside: Extremely Low $37/S.F. Asking Price & Easily Replaceable Avg. Rents of Only $6.04/SF w/ Significant Additional Leasing Upside
  • $2,060,000 in Upside Value @ Stabilized 8.00% CAP Rate (Assuming 93% Occup.) Estimated $210,000+ Increase to NOI, Not Including Addl. Outlot Value
  • Strong Reported Store Sales & Multiple Parceled Outparcel Development Opportunities Included with Sale
  • Ideal Demographics: Average Household Incomes of $78,000 Within a 5-Mile Radius and Direct Access to Large Population Base (76,000+ People in 5 Miles)
  • 3 Miles to Wittenburg University: 1,500+ Students & Faculty Combined, Contributing to the Center’s Daily Daytime Traffic

OVERVIEW

• 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% Occupancy) 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

FOR SALE DETAILS

PRICE

$3,145,000 USD

PRICE/SF

$27 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Incredible Value-Add Nationally Anchored Ctr.

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

500

LAND DETAILS

CROSS STREETS

Lexington Ave

LAND ACRES

11.84 AC

LAND SF

515,750 SF

ZONING

-

APN/PARCEL ID

34-00700-02221-0015

ASK ABOUT THIS PROPERTY

Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.