Shopping Community
New Lebanon Plaza
510 W Main St, New Lebanon, OH 45345
Listing Price: $3,665,000
Cap Rate
9.00%
Gross SF
52,049
Rentable SF
52,049
Price/Gross SF
$70.41
Lot Size
5.58 acres
Year Built
1997
Investment Overview
Marcus & Millichap is pleased to present for sale New Lebanon Plaza, located in New Lebanon, Ohio.
New Lebanon Plaza
Investment Highlights
- 72 Percent Occupied, 52,049-Square-Foot Value-Add Grocery-Anchored Community Shopping Center in the Dayton, Ohio MSA
- Anchored by Groceryland Foods – Tenant Since 1997 on Triple-Net Lease with Recent Five-Year Renewal thru September 2030
- 5.5 Years of Grocery Anchor Term Remaining and 4.8 Years WALT Across Shopping Center
- Offering Includes Recently Vacated 11,345-Square-Foot Freestanding Former Rite Aid Building
- Offering Priced at 9.0 Percent CAP Rate on the In-Place Net Operating Income, Plus an Additional $500,000 for the Freestanding Former Rite Aid Building
- 11.5 Percent Pro Forma CAP Rate if Former Rite Aid Building is Leased at $8 per Square Foot Triple-Net Lease
- Additional Upside Potential via Lease-Up of One 3,215-Square-Foot Small-Shop Vacancy with Projected Market Rent of $13 per Square Foot Triple-Net Lease
- Six Small-Shop Tenants Comprise 29.8 Percent of Occupied Gross Leasable Area and Contribute 40.8 Percent of In-Place Gross Income
Listing Price: $3,665,000
Cap Rate
9.00%
Gross SF
52,049
Rentable SF
52,049
Price/Gross SF
$70.41
Lot Size
5.58 acres
Year Built
1997
Investment Highlights
- 72 Percent Occupied, 52,049-Square-Foot Value-Add Grocery-Anchored Community Shopping Center in the Dayton, Ohio MSA
- Anchored by Groceryland Foods – Tenant Since 1997 on Triple-Net Lease with Recent Five-Year Renewal thru September 2030
- 5.5 Years of Grocery Anchor Term Remaining and 4.8 Years WALT Across Shopping Center
- Offering Includes Recently Vacated 11,345-Square-Foot Freestanding Former Rite Aid Building
- Offering Priced at 9.0 Percent CAP Rate on the In-Place Net Operating Income, Plus an Additional $500,000 for the Freestanding Former Rite Aid Building
- 11.5 Percent Pro Forma CAP Rate if Former Rite Aid Building is Leased at $8 per Square Foot Triple-Net Lease
- Additional Upside Potential via Lease-Up of One 3,215-Square-Foot Small-Shop Vacancy with Projected Market Rent of $13 per Square Foot Triple-Net Lease
- Six Small-Shop Tenants Comprise 29.8 Percent of Occupied Gross Leasable Area and Contribute 40.8 Percent of In-Place Gross Income
Investment Overview
Marcus & Millichap is pleased to present for sale New Lebanon Plaza, located in New Lebanon, Ohio.
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