For Sale
$6,193,000

11179 Luschek DrCincinnati, OH 45241

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 9,000 square foot freestanding retail building in Cincinnati, Ohio, currently leased to Guidepost Montessori, the world's largest Montessori school operator with over 150 locations. The property sits on a 1.64-acre lot and includes 30 parking spaces. The 20-year net lease (NNN) boasts a 7.00% cap rate and a substantial NOI of $433,500. The lease features attractive 2% annual rent bumps, providing consistent income growth. The building underwent extensive renovations in 2023, encompassing a new roof and HVAC system, a completely resurfaced parking lot, replacement of all mechanical, electrical, and plumbing systems (MEPs), and a fresh coat of paint throughout. The lease is guaranteed by Higher Ground Education (HGE), a financially strong corporate entity with an experienced executive team. This investment benefits from a prime location in a high-growth area, boasting a 12.75% population increase within a one-mile radius since 2020 and average household incomes exceeding $152,031 within the same radius. The surrounding area, Blue Ash, is recognized for its high quality of life, ranking highly in national surveys. This property offers a secure, high-return investment with a strong tenant and a long-term lease. Four, five-year lease options further enhance the investment's stability and potential. The property is located at 11179 Luschek Dr, Cincinnati, OH 45241.

Highlights

  • 20-year NNN corporate lease with 2% annual rent increases.
  • Extensive 2023 renovations including new roof, HVAC, parking lot, and MEP systems.
  • Lease guaranteed by financially strong Higher Ground Education (HGE).
  • Leased to Guidepost Montessori, the world's largest Montessori school operator.
  • 12.75% population growth within a one-mile radius since 2020.
  • Average household income exceeding $152,031 within a one-mile radius.

Property Details for 11179 Luschek Dr

Property type
Day care centers & nurseries, Retail properties
Square Feet
9,000 SF
Year Renovated
2023
Lot Size (sq. ft)
71,438 SF

Location Insight

City
Cincinnati
County
Hamilton
State
Ohio
Latitude
39.2705087
Longitude
-84.3807135
11179 Luschek Dr, Cincinnati, Ohio

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11179 Luschek Dr
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