Shopping Regional
Cross Pointe Centre
127 East Alex Bell Road, Centerville (Dayton MSA), OH 45459
Listing Price: $28,800,000
Investment Overview
Marcus & Millichap is pleased to present for sale Cross Pointe Centre, a 217,000 square foot shopping center located in Centerville (Dayton MSA), Ohio.
Cross Pointe Centre presents investors with a rare opportunity to acquire a 217,009-square-foot, best-in-class retail center located in the affluent and high-performing Centerville submarket of Dayton, Ohio. Positioned directly off Interstate 675 on more than 25 acres, the property benefits from exceptional regional visibility, strong surrounding demographics, and a proven history of high occupancy and rental stability.
Cross Pointe Centre delivers an attractive, year-1 cap rate backed by consistent long-term tenancy and minimal landlord expense responsibilities. The asset is currently 99% leased to 53 tenants in various retail and service-oriented sectors; and with over 90% of the rent roll operating under triple-net leases, Cross Pointe Centre ensures predictable income, limited expense exposure, NOI growth and inflation protection.
Cross Pointe Centre
Investment Highlights
- Institutional-Quality Asset: All 118 HVAC units were replaced in 2013; outside pole lighting was converted to LED in 2017, the entire awning was replaced in 2018, and the roof was replaced in 2013
- Strong Rent Roll Stability: The majority of tenants have operated at the center for more than 10 years. Recent renewals and scheduled rental increases support NOI growth and hedge against inflation
- Affluent Trade Area: Average household income within five miles exceeds $103,000, with a stable and mature residential base supporting steady retail spending and service demand
- Roof Warranty In Place: The roof on the entire property was replaced in 2013 and has a 20-year warranty in place
- Minimal Landlord Expense Responsibility: Over 90 percent of tenants are operating under triple-net leases and reimburse for property management expense
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director, Chief Revenue Officer- Mid-West Division
Listing Price: $28,800,000
Investment Highlights
- Institutional-Quality Asset: All 118 HVAC units were replaced in 2013; outside pole lighting was converted to LED in 2017, the entire awning was replaced in 2018, and the roof was replaced in 2013
- Strong Rent Roll Stability: The majority of tenants have operated at the center for more than 10 years. Recent renewals and scheduled rental increases support NOI growth and hedge against inflation
- Affluent Trade Area: Average household income within five miles exceeds $103,000, with a stable and mature residential base supporting steady retail spending and service demand
- Roof Warranty In Place: The roof on the entire property was replaced in 2013 and has a 20-year warranty in place
- Minimal Landlord Expense Responsibility: Over 90 percent of tenants are operating under triple-net leases and reimburse for property management expense
Investment Overview
Marcus & Millichap is pleased to present for sale Cross Pointe Centre, a 217,000 square foot shopping center located in Centerville (Dayton MSA), Ohio. Cross Pointe Centre presents investors with a rare opportunity to acquire a 217,009-square-foot, best-in-class retail center located in the affluent and high-performing Centerville submarket of Dayton, Ohio. Positioned directly off Interstate 675 on more than 25 acres, the property benefits from exceptional regional visibility, strong surrounding demographics, and a proven history of high occupancy and rental stability. Cross Pointe Centre delivers an attractive, year-1 cap rate backed by consistent long-term tenancy and minimal landlord expense responsibilities. The asset is currently 99% leased to 53 tenants in various retail and service-oriented sectors; and with over 90% of the rent roll operating under triple-net leases, Cross Pointe Centre ensures predictable income, limited expense exposure, NOI growth and inflation protection.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director, Chief Revenue Officer- Mid-West Division
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