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Shopping Neighborhood

Value Add | Neighborhood Retail

89-163 N Allison Ave, Xenia, OH 45385

Listing Price: $2,220,228

Cap Rate
9.50%
Gross SF
52,267
Rentable SF
52,267
Price/Gross SF
$42.48
Lot Size
5.70 acres
Year Built
1961

Investment Overview

Marcus & Millichap is pleased to exclusively offer significant value-add opportunity, allowing for the addition of tenancies, development, and lease adjustments. There is a total of 4,945 square feet of vacant space, multiple gross leases in place, and the property has the potential for outlot development. The large lot spans 5.7 acres and features approximately 1,116 feet of frontage along Allison Avenue, 267 feet along Dayton Avenue, 190 feet on Vine Street, and 874 feet on Little Vine Street, providing nine points of ingress and egress.

Anchored by national tenants with a long operating history, the property hosts Goodwill and Rent-A-Center. Goodwill has been a tenant since 2000, while Rent-A-Center has been there since 2004. Both tenants benefit from corporate guarantees.

The location demonstrates strong leasing activity, which reflects commitment and growth potential. Recent lease activity includes eight tenants who started leases in 2023 and one tenant in 2024. Additionally, Goodwill has extended their lease through 2027.

Situated in a prime location with significant growth potential, the property is close to schools, major roads, and numerous retail options. It is adjacent to Cox Elementary School, which has 262 students, and Doug Adams Stadium, which seats 6,000. Within a three-mile radius, the area is expected to see a 2.34% growth by 2028. The property is just 450 feet from N Detroit Street/Route 35, with a traffic count of 18,137 vehicles passing daily. Nearby retailers include Walmart, Lowe’s, Napa Auto Parts, CVS, Kroger, Aldi, Harbor Freight, Hampton Inn, Buffalo Wild Wings, and more.

Investment Highlights

  • Value Add Opportunity | Add Tenancy, Development and Lease Adjustments
  • Low Price Point of $42.48/SF - 4,945 Square Feet of Vacant Space
  • Anchored by National Tenants with a Long Operating History, Goodwill and Rent-A-Center
  • Recent Lease Activity Eight Tenants Started Leases in 2023 and One Tenant in 2024
  • Goodwill Recently Extended Their Lease to 2027

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Shopping Neighborhood

Value Add | Neighborhood Retail

Listing Price: $2,220,228

Cap Rate
9.50%
Gross SF
52,267
Rentable SF
52,267
Price/Gross SF
$42.48
Lot Size
5.70 acres
Year Built
1961

Investment Highlights

  • Value Add Opportunity | Add Tenancy, Development and Lease Adjustments
  • Low Price Point of $42.48/SF - 4,945 Square Feet of Vacant Space
  • Anchored by National Tenants with a Long Operating History, Goodwill and Rent-A-Center
  • Recent Lease Activity Eight Tenants Started Leases in 2023 and One Tenant in 2024
  • Goodwill Recently Extended Their Lease to 2027

Investment Overview

Marcus & Millichap is pleased to exclusively offer significant value-add opportunity, allowing for the addition of tenancies, development, and lease adjustments. There is a total of 4,945 square feet of vacant space, multiple gross leases in place, and the property has the potential for outlot development. The large lot spans 5.7 acres and features approximately 1,116 feet of frontage along Allison Avenue, 267 feet along Dayton Avenue, 190 feet on Vine Street, and 874 feet on Little Vine Street, providing nine points of ingress and egress. Anchored by national tenants with a long operating history, the property hosts Goodwill and Rent-A-Center. Goodwill has been a tenant since 2000, while Rent-A-Center has been there since 2004. Both tenants benefit from corporate guarantees. The location demonstrates strong leasing activity, which reflects commitment and growth potential. Recent lease activity includes eight tenants who started leases in 2023 and one tenant in 2024. Additionally, Goodwill has extended their lease through 2027. Situated in a prime location with significant growth potential, the property is close to schools, major roads, and numerous retail options. It is adjacent to Cox Elementary School, which has 262 students, and Doug Adams Stadium, which seats 6,000. Within a three-mile radius, the area is expected to see a 2.34% growth by 2028. The property is just 450 feet from N Detroit Street/Route 35, with a traffic count of 18,137 vehicles passing daily. Nearby retailers include Walmart, Lowe’s, Napa Auto Parts, CVS, Kroger, Aldi, Harbor Freight, Hampton Inn, Buffalo Wild Wings, and more.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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