7 HILLS SHOPPING CENTER

10946 Hamilton Ave, Cincinnati, OH 45231
$3,550,000

Cap Rate
9.5%
Price Per SF
$71
Units
14
Gross SQFT
50,726
Year Built
1967
Occupancy
100%
NOI
$337,266
Property Type
Shopping Centers

INVESTMENT HIGHLIGHTS

  • FOR SALE:
    ➢ 100% occupied ±50,000 sq ft shopping center for sale, with vacant outparcel included.
  • HISTORY OF TENANCY:
    ➢ This property benefits from long term tenants who have been in the plaza for several years. Over 50% of the tenants per GLA have been in the center for 10+ years, and 30% of tenants per GLA being in the center for 20+ years.
  • SYNERGISTIC TENANT MIX:
    ➢ This asset is positioned to be a hub for all things driver’s licenses, vehicle registration, and other services for Southwest Ohio, with tenants such as the Ohio BMV Investigations Office, the Ohio Drivers Exam Center, the District 3 Field Office, the Deputy Registrar, US Auto Insurance, Ohio Insurance Center, Hamilton County Title, and KMR Drivers Training.
  • GOVERNMENT/STATE BACKED TENANTS:
    ➢ The 7 Hills Center benefits from having roughly 55% of the GLA occupied by state or government backed tenants, providing a security of income and occupancy.
  • HIGH DENSITY LOCATION:
    ➢ Asset is strategically located in a densely populated market of Cincinnati, with roughly 175,199 people and 70,921 households in a 5 mile radius.
  • VALUE ADD:
    ➢ Roughly ±660 sq ft vacant outparcel (former Rally’s) is included in the sale, giving a new owner several avenues to add value once under new ownership. A new owner would have the opportunity to release the space and hold to cash flow,  or entertain spin off arbitrage once leased.
  • Strategic Location:
    ➢ Located less than ±1 mile from Interstate 275, this portion of Hamilton Avenue sees roughly ±17,000 VPD.

Broker of Record

  • Matt Wallace
  • License No. REC.2022007141 (OH)
  • (866) 889-0550
  • Matthews Real Estate Investment Services, Inc
  • 950 Main Ave.,
    Suite 510, Cleveland, OH 44113