For Sale
$4,190,000

1064 Oh-28Milford, OH 45150

12,000 SF, 7% Cap Rate, Multi-Tenant

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 12,000-square-foot retail center in Milford, Ohio, presents a stabilized investment opportunity with a 7.00% cap rate. The property boasts a prime location on State Route 28, benefiting from high visibility and traffic volume exceeding 41,607 vehicles per day. Currently 100% occupied by six tenants, including AT&T, Mercy Health, Tropical Smoothie Cafe, Marco's Pizza, GameStop, and Clarkson Eyecare, this multi-tenant building offers a diverse and complementary tenant mix under landlord-favorable net leases with remaining lease terms averaging 4.4 years. The strong tenant roster includes several national brands, four of which have operated at this location for over a decade, demonstrating exceptional tenant loyalty and stability. The property is strategically situated as a direct outlot to major retailers Meijer and Home Depot, further enhancing its appeal and drawing from a robust customer base. The surrounding area features a dense population of over 75,768 residents within a five-mile radius, boasting an average household income exceeding $134,100. Built in 2008, this single-story building sits on a 1.25-acre lot and includes 67 parking spaces. The property's strong demographics, high occupancy rate, and desirable location make it an attractive investment opportunity with a substantial net operating income (NOI) of $293,598. The property's proximity to other national retailers like Kroger, Aldi, Lowe's, Planet Fitness, Kohl's, Panera Bread, Wendy's, and White Castle further solidifies its position within a thriving retail corridor. This is a rare opportunity to acquire a well-established, high-performing retail center in a prime location.

Highlights

  • Stabilized 12,000 SF retail center investment opportunity in Milford, OH, with a 7.00% cap rate and $293,598 NOI.
  • Prime location on State Route 28, exceeding 41,607 vehicles per day.
  • Strong demographics: Over 75,768 residents within a 5-mile radius, average household income exceeding $134,100.
  • 100% occupied by a diverse mix of national tenants (AT&T, Mercy Health, etc.) under landlord-favorable net leases averaging 4.4 years remaining.
  • Shadow-anchored by Meijer and Home Depot, surrounded by additional national retailers (Kroger, Aldi, Lowe's, etc.).

Property Details for 1064 Oh-28

Property type
Lifestyle centers, Power centers
Square Feet
12,000 SF
Year Built
2008
Buildings
1
Stories
1
Lot Size (sq. ft)
54,450 SF
Units
6

Location Insight

City
Milford
County
Clermont
State
Ohio
Latitude
39.194597546073
Longitude
-84.238257986436
1064 Oh-28, Milford, Ohio

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1064 Oh-28
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