Shopping Strip

Jubilee Center

545 W Plane St, Bethel, OH 45106

Listing Price: $1,799,000

Cap Rate
7.70%
Gross SF
36,395
Rentable SF
36,395
Price/Gross SF
$49.43
Lot Size
4.06 acres
Year Built
1982

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the

The approximately 39,500 square-foot property sits on a large parcel in a major retail corridor with good visibility from the road. Save-A-Lot and Dollar Tree comprise a strong tenant mix with further upside opportunity to be realized through a 5,500 square-foot vacancy. Both current tenants pay healthy, in-line rent on triple-net (NNN) leases with close to five years of term remaining on each. Save-A-Lot is the sole national grocer serving Bethel and has shown commitment to the site through a recent execution of a lease extension. The roof and HVAC have been maintained regularly and the entirety of the parking lot received a new asphalt overlay approximately eighteen months ago.

Bethel is located about thirty miles to the southeast of Cincinnati in Clermont County on State Route 125; an artery that connects Cincinnati to its southeastern suburbs. Cincinnati is a highly trafficked destination and is home to three major sports teams: the Cincinnati Reds of Major League Baseball; the Cincinnati Bengals of the National Football League; and FC Cincinnati of Major League Soccer. Major retailers in close vicinity to subject property include McDonalds, Wendys, CVS, OReilly Auto Parts, Arbys, Chase Bank, and Advance Auto Parts. Further traffic drivers in this area include Bethel-Tate Local Schools and the Clermont County Public Library.

Save-A-Lot stores carry most grocery products, with an assortment of fresh, canned and frozen produce, meat, meal products, household items and everyday groceries. Save A Lot grocery stores sell national brands and private label brands at a discounted price. This location is operated by Saver Group, Inc., based out of Campbellsville, Kentucky. Saver Group, Inc. operates 49 Save-A-Lot locations spread over four states with a mission to Provide customer focused service at the best possible price in the cleanest environment; highly evidenced in the subject property. Dollar Tree, as well as discount stores in general, have fared exceedingly well during the challenging market circumstances of 2020. The company currently has a Moodys Credit Rating of Baa2, and according to Moodys VP Mickey Chadha, "Dollar Tree has demonstrated continued strong operating performance and cash flow generation despite the headwinds caused by the coronavirus pandemic

Investment Highlights

  • 84% Occupied Three-Tenant Retail Center | Upside Potential in Leasing Vacant Suite
  • Strong Tenant Mix with Save-A-Lot (1,280 Locations) & Dollar Tree (15,280+ Locations)
  • Fresh 5-Year Save-A-Lot Lease Extension Illustrating their Success & Commitment
  • Experienced Operator | Save-A-Lot Franchisee Operates 49 Stores Across 4 States
  • High Visibility Located in a Major Retail Corridor in Cincinnati MSA
  • Long-Term Leases with both Tenants having 5+ Years Left

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

Listing Price: $1,799,000

Cap Rate
7.70%
Gross SF
36,395
Rentable SF
36,395
Price/Gross SF
$49.43
Lot Size
4.06 acres
Year Built
1982

Investment Highlights

  • 84% Occupied Three-Tenant Retail Center | Upside Potential in Leasing Vacant Suite
  • Strong Tenant Mix with Save-A-Lot (1,280 Locations) & Dollar Tree (15,280+ Locations)
  • Fresh 5-Year Save-A-Lot Lease Extension Illustrating their Success & Commitment
  • Experienced Operator | Save-A-Lot Franchisee Operates 49 Stores Across 4 States
  • High Visibility Located in a Major Retail Corridor in Cincinnati MSA
  • Long-Term Leases with both Tenants having 5+ Years Left

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the

The approximately 39,500 square-foot property sits on a large parcel in a major retail corridor with good visibility from the road. Save-A-Lot and Dollar Tree comprise a strong tenant mix with further upside opportunity to be realized through a 5,500 square-foot vacancy. Both current tenants pay healthy, in-line rent on triple-net (NNN) leases with close to five years of term remaining on each. Save-A-Lot is the sole national grocer serving Bethel and has shown commitment to the site through a recent execution of a lease extension. The roof and HVAC have been maintained regularly and the entirety of the parking lot received a new asphalt overlay approximately eighteen months ago.

Bethel is located about thirty miles to the southeast of Cincinnati in Clermont County on State Route 125; an artery that connects Cincinnati to its southeastern suburbs. Cincinnati is a highly trafficked destination and is home to three major sports teams: the Cincinnati Reds of Major League Baseball; the Cincinnati Bengals of the National Football League; and FC Cincinnati of Major League Soccer. Major retailers in close vicinity to subject property include McDonalds, Wendys, CVS, OReilly Auto Parts, Arbys, Chase Bank, and Advance Auto Parts. Further traffic drivers in this area include Bethel-Tate Local Schools and the Clermont County Public Library.

Save-A-Lot stores carry most grocery products, with an assortment of fresh, canned and frozen produce, meat, meal products, household items and everyday groceries. Save A Lot grocery stores sell national brands and private label brands at a discounted price. This location is operated by Saver Group, Inc., based out of Campbellsville, Kentucky. Saver Group, Inc. operates 49 Save-A-Lot locations spread over four states with a mission to Provide customer focused service at the best possible price in the cleanest environment; highly evidenced in the subject property. Dollar Tree, as well as discount stores in general, have fared exceedingly well during the challenging market circumstances of 2020. The company currently has a Moodys Credit Rating of Baa2, and according to Moodys VP Mickey Chadha, "Dollar Tree has demonstrated continued strong operating performance and cash flow generation despite the headwinds caused by the coronavirus pandemic

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

MM Texture Background
MM Textured Background Lower