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
LEAD LISTING AGENT
Email
[email protected]
License No.
2023003740 (OH)
Direct
+1 (216) 777-2153
Mobile
+1 (216) 778-9881
ADDITIONAL LISTING AGENT
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