for sale eastgate professional center / eastgate … · year built: 1991 building size: 21,000 sf...

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 TRAUTMANN513.752.5000 x10 [email protected] [email protected]

F O R S A L E

EASTGATEPROFESSIONALCENTER /EASTGATEVILLAGECENTER9 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 TRAUTMANN513.752.5000 x10 [email protected] [email protected] RETAIL PROPERTY FOR SALE

OFFERING SUMMARYSale 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 - GeneralBusiness

Market: Cincinnati

Submarket: Eastgate

Traffic Count: 19,500

Price / SF: $128.10

PROPERTY OVERVIEWRetail center on major intersection in the Eastgate shopping district (OldSt Rt 74 & Glen Este Withamsville) 21,000 SqFt with 156 parking stalls inlighted parking lot. Two pylon signs on Old St Rt 74 visible fromintersection. 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 STATEROUTE 74 , C INCINNATI , OH




ADDITIONAL PHOTOS




TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND

ANNUALRENT

% OFGLA

PRICEPER 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


RENT ROLL




INCOME SUMMARY

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

EXPENSE SUMMARY

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

Net Operating Income $201,521


INCOME & EXPENSES





RETAILER MAP




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


DEMOGRAPHICS MAP


for sale eastgate professional center / eastgate … · year built: 1991 building size: 21,000 sf...

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