For Sale
$8,100,000

2900 Us-22Maineville, OH 45039

Ohio Shopping Center: High Occupancy, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents Landen Square Shopping Center, a stabilized retail property located at 2900 US-22, Maineville, Ohio, 45039. This 68,173 square foot shopping center, built in 1962 and renovated in 2012, sits on a 14-acre lot and boasts a remarkable 98% occupancy rate across its 21 units. The property features two single-story buildings with a diverse tenant mix, making it resilient to e-commerce trends. The current Net Operating Income (NOI) is $648,715, yielding an 8.01% cap rate with a pro-forma cap rate of 10.25%. The property benefits from a Kroger shadow anchor, NNN leases, and multiple points of ingress and egress, ensuring strong traffic flow exceeding 31,000 cars daily. Located in Warren County, Landen Square enjoys a prime location with over 140,000 people within a 5-mile radius and an average household income exceeding $157,000. Below-market rents and scheduled rent increases offer significant potential for future return growth. The asking price for this well-established retail destination is $8,100,000.

Highlights

  • Kroger shadow-anchored shopping center.
  • E-commerce resistant tenant mix.
  • Scheduled rent increases and below-market rents.
  • NNN leases.
  • Multiple points of ingress/egress with 31,000+ cars/day traffic count.
  • Dense population: 140,289+ people within 5 miles, average household income exceeding $157,000.

Property Details for 2900 Us-22

Property type
Lifestyle centers, Power centers
Square Feet
68,173 SF
Year Built/Renovated
1962/2012
Buildings
2
Stories
1
Lot Size (sq. ft)
609,840 SF
Units
21

Location Insight

City
Maineville
County
Warren
State
Ohio
Latitude
39.3110281
Longitude
-84.2748879
2900 Us-22, Maineville, Ohio

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2900 Us-22
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