FOR SALE EASTGATE PROFESSIONAL CENTER / EASTGATE Year Built: 1991 Building Size: 21,000 SF Zoning: Commercial

  • View
    0

  • Download
    0

Embed Size (px)

Text of FOR SALE EASTGATE PROFESSIONAL CENTER / EASTGATE Year Built: 1991 Building Size: 21,000 SF Zoning:...

  • J . A . T R A U T M A N N R E A L T O R S | 5 1 3 . 7 5 2 . 5 0 0 0 | 9 0 1 O H I O P I K E , S U I T E 2 0 0 , C I N C I N N A T I , O H 4 5 2 4 5

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com

    F O R S A L E

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER 9 4 8 O L D S T A T E R O U T E 7 4 , C I N C I N N A T I , O H 4 5 2 4 4

  • J.A. TRAUTMANN REALTORS | 513.752.5000 | 901 OHIO PIKE, SUITE 200, CINCINNATI, OH 45245

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com RETAIL PROPERTY FOR SALE

    OFFERING SUMMARY Sale Price: $2,690,000

    Cap Rate: 7.49%

    NOI: $201,521

    Available SF: 2,400 SF

    Lot Size: 3.26 Acres

    Year Built: 1991

    Building Size: 21,000 SF

    Zoning: Commercial - General Business

    Market: Cincinnati

    Submarket: Eastgate

    Traffic Count: 19,500

    Price / SF: $128.10

    PROPERTY OVERVIEW Retail center on major intersection in the Eastgate shopping district (Old St Rt 74 & Glen Este Withamsville) 21,000 SqFt with 156 parking stalls in lighted parking lot. Two pylon signs on Old St Rt 74 visible from intersection. ADT ~ 20,000 cars. Very little deferred maintenance. NOI ~ $201,500

    PROPERTY HIGHLIGHTS • 88.58% physical occupancy.

    • Located on major intersection in the Eastgate shopping district.

    • 21,000 SqFt with 156 parking stalls in lighted parking lot.

    • Two pylon signs on Old St Rt 74 visible from intersection.

    • ADT ~ 20,000 cars on Old SR 74 / ADT ~ 17,000 cars on Glen Este.

    • Very little deferred maintenance. New roof/gutters in 2019

    • NOI ~ $201,500

    RETAIL PROPERTY FOR SALE

    EXECUTIVE SUMMARY

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER | 948 OLD STATE ROUTE 74 , C INCINNATI , OH

  • J.A. TRAUTMANN REALTORS | 513.752.5000 | 901 OHIO PIKE, SUITE 200, CINCINNATI, OH 45245

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com RETAIL PROPERTY FOR SALE

    RETAIL PROPERTY FOR SALE

    ADDITIONAL PHOTOS

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER | 948 OLD STATE ROUTE 74 , C INCINNATI , OH

  • J.A. TRAUTMANN REALTORS | 513.752.5000 | 901 OHIO PIKE, SUITE 200, CINCINNATI, OH 45245

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com RETAIL PROPERTY FOR SALE

    TENANT NAME

    UNIT NUMBER

    UNIT SIZE (SF)

    LEASE START

    LEASE END

    ANNUAL RENT

    % OF GLA

    PRICE PER SF/YR

    Busken Bakery 8 1,800 03/08/1999 05/31/2021 $27,000 8.57 $15.00

    The Meat Store 7 1,800 03/15/2013 03/31/2020 $25,085 8.57 $13.94

    Witt Remodeling 5-6 2,400 05/02/2016 07/31/2020 $33,100 11.43 $13.79

    Alegna Realty 4a 1,200 10/27/2015 12/31/2019 $17,169 5.71 $14.31

    Tax Services 4 1,200 12/19/2014 04/30/2021 $17,400 5.71 $14.50

    Vacant 3 1,200 5.71

    Farmers Insurance 2 1,200 08/12/2017 08/11/2020 $16,908 5.71 $14.09

    Your Cleaners 1 1,200 10/28/2015 10/27/2021 $17,520 5.71 $14.60

    vacant 7 1,200 5.71

    United Way 6 1,020 08/15/2017 08/14/2020 $15,445 4.86 $15.14

    State Farm 5 1,000 03/01/2000 02/28/2020 $16,768 4.76 $16.77

    Merry Maids 4 1,500 06/01/2000 08/19/2020 $20,400 7.14 $13.60

    Total Staffing 3 1,200 08/01/15 07/31/2022 $17,415 5.71 $14.51

    Cullen Electric 1-2 2,400 11/01/19 10/31/2024 $30,960 11.43 $12.90

    Totals/Averages 20,320 $255,170 $12.56

    RETAIL PROPERTY FOR SALE

    RENT ROLL

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER | 948 OLD STATE ROUTE 74 , C INCINNATI , OH

  • J.A. TRAUTMANN REALTORS | 513.752.5000 | 901 OHIO PIKE, SUITE 200, CINCINNATI, OH 45245

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com RETAIL PROPERTY FOR SALE

    INCOME SUMMARY

    2020 gross scheduled income $255,169 Gross Income $255,169

    EXPENSE SUMMARY

    Taxes $27,113 Utilities $6,911 Insurance $5,743 Maintenance $12,060 Trash $1,821 Gross Expenses $53,648

    Net Operating Income $201,521

    RETAIL PROPERTY FOR SALE

    INCOME & EXPENSES

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER | 948 OLD STATE ROUTE 74 , C INCINNATI , OH

  • J.A. TRAUTMANN REALTORS | 513.752.5000 | 901 OHIO PIKE, SUITE 200, CINCINNATI, OH 45245

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com RETAIL PROPERTY FOR SALE

    RETAIL PROPERTY FOR SALE

    RETAILER MAP

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER | 948 OLD STATE ROUTE 74 , C INCINNATI , OH

  • J.A. TRAUTMANN REALTORS | 513.752.5000 | 901 OHIO PIKE, SUITE 200, CINCINNATI, OH 45245

    BEN TRAUTMANN TIM TRAUTMANN 513.752.5000 x10 513.315.7351 ben@jatrealtors.com tim@jatrealtors.com RETAIL PROPERTY FOR SALE

    POPULATION 1 MILE 5 MILES 10 MILES

    Total population 3,725 97,705 293,724

    Median age 36.0 36.6 38.4

    Median age (Male) 35.7 35.7 37.1

    Median age (Female) 36.5 37.5 39.6

    HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

    Total households 1,466 37,500 112,403

    # of persons per HH 2.5 2.6 2.6

    Average HH income $72,842 $76,309 $86,689

    Average house value $199,849 $178,429 $234,646

    * Demographic data derived from 2010 US Census

    RETAIL PROPERTY FOR SALE

    DEMOGRAPHICS MAP

    EASTGATE PROFESSIONAL CENTER / EASTGATE VILLAGE CENTER | 948 OLD STATE ROUTE 74 , C INCINNATI , OH