For Sale
$6,300,000

1800 Tiffin Ave Findlay, OH 45840

High-yield, triple-net leased retail center

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional Findlay, Ohio shopping center presents a compelling investment opportunity. Boasting 76,549 square feet, the property is 100% occupied by three national credit tenants (Best Buy, Michaels, and Michaels) under corporate guarantees, with a weighted average lease term of nearly 8 years (expiring 3/1/2032). The center enjoys a strong 8.01% cap rate and a substantial NOI of $504,764, based on an asking price of $6,300,000 ($82.30/sq ft). Built in 1962 and renovated in 1990, the single-building property sits on a 28.87-acre lot at a prime location on Tiffin Avenue, benefiting from high visibility and strong signage. The center is strategically positioned in a high-income area (average household income $105,097 within a 5-mile radius) and surrounded by major retailers, including Hobby Lobby, Gabe's, Harbor Freight, Kroger, and more. A recent approval for a significant retail development nearby is expected to further enhance the center's performance. The ample parking lot also presents a potential outlot development opportunity. This property offers a rare combination of strong tenancy, long-term leases, and significant upside potential.

Highlights

  • $6,300,000 asking price for a 76,549 SF shopping center in Findlay, OH.
  • 100% occupancy with three national credit tenants (Best Buy, Michaels, and Dunham's) providing a corporate guarantee.
  • Strong, long-term leases averaging nearly 8 years remaining (expiring 3/1/2032).
  • 8.01% cap rate with a $504,764 NOI.
  • Located in a high-income area ($105,097 average household income within a 5-mile radius) on a major thoroughfare (Tiffin Ave) with excellent visibility and signage.
  • Property benefits from a nearby planned retail redevelopment project, expected to increase traffic and sales.

Property Details for 1800 Tiffin Ave

Property type
Lifestyle centers, Power centers
Square Feet
76,549 SF
Year Built/Renovated
1962/1990
Buildings
1
Lot Size (sq. ft)
1,257,577 SF
Units
3

Location Insight

City
Findlay
County
Hancock
State
Ohio
Latitude
41.053494075688
Longitude
-83.615383850837

FAQs

What type of property is this?
Lifestyle center - High-yield, triple-net leased retail center
Where is the lifestyle center located?
The property is located at 1800 Tiffin Ave Findlay, OH.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: $6,300,000 asking price for a 76,549 SF shopping center in Findlay, OH.; 100% occupancy with three national credit tenants (Best Buy, Michaels, and Dunham's) providing a corporate guarantee.; Strong, long-term leases averaging nearly 8 years remaining (expiring 3/1/2032).
How can I contact the broker?
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1800 Tiffin Ave
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