Shopping Neighborhood

Plaza Shopping Center

1283 N Memorial Dr, Lancaster, OH 43130

Listing Price: $10,415,000

Cap Rate
9.50%
Gross SF
210,522
Rentable SF
210,522
Price/Gross SF
$49.47
Lot Size
19.68 acres
Year Built
1994

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale, Plaza Shopping Center in Lancaster, Ohio. This 210,522-square-foot plaza is situated on a large 19.68 acre lot with an outparcel redevelopment opportunity. The plaza has a strong mix of recession and COVID-proof national, regional and local tenants including AutoZone, Family Dollar, Ollie’s Bargain Outlet, UPS Store, Rent a Center and Planet Fitness.

Investment Highlights

  • 96 Percent Occupied, 210,522-Square-Foot Shopping Center in Columbus, Ohio MSA
  • Strong Mix of Recession and COVID-Proof National, Regional and Local Tenants Including AutoZone, Family Dollar, Ollie's Bargain Outlet, UPS Store, Rent a Center and Planet Fitness
  • Next Closest Planet Fitness is 16 Miles; Next Closest Ollie's is 23 Miles
  • 71 Percent of Gross Leasable Area Has Been Leased or Extended Since 2018 Including Two New Leases with Anchor Tenants
  • 38,703 Square Feet of New Roofs Replaced Over Past Five Years
  • Longer Term Leases in Place; 86 Percent of Gross Leasable Area Leased Through 2023 and 45 Percent of Gross Leasable Area Leased Through 2025
  • Situated on Large 19.68 Acre Lot with Outparcel Redevelopment Opportunity

Exclusively Listed By

Shopping Neighborhood

Plaza Shopping Center

Listing Price: $10,415,000

Cap Rate
9.50%
Gross SF
210,522
Rentable SF
210,522
Price/Gross SF
$49.47
Lot Size
19.68 acres
Year Built
1994

Investment Highlights

  • 96 Percent Occupied, 210,522-Square-Foot Shopping Center in Columbus, Ohio MSA
  • Strong Mix of Recession and COVID-Proof National, Regional and Local Tenants Including AutoZone, Family Dollar, Ollie's Bargain Outlet, UPS Store, Rent a Center and Planet Fitness
  • Next Closest Planet Fitness is 16 Miles; Next Closest Ollie's is 23 Miles
  • 71 Percent of Gross Leasable Area Has Been Leased or Extended Since 2018 Including Two New Leases with Anchor Tenants
  • 38,703 Square Feet of New Roofs Replaced Over Past Five Years
  • Longer Term Leases in Place; 86 Percent of Gross Leasable Area Leased Through 2023 and 45 Percent of Gross Leasable Area Leased Through 2025
  • Situated on Large 19.68 Acre Lot with Outparcel Redevelopment Opportunity

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale, Plaza Shopping Center in Lancaster, Ohio. This 210,522-square-foot plaza is situated on a large 19.68 acre lot with an outparcel redevelopment opportunity. The plaza has a strong mix of recession and COVID-proof national, regional and local tenants including AutoZone, Family Dollar, Ollie’s Bargain Outlet, UPS Store, Rent a Center and Planet Fitness.

Exclusively Listed By

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