For Sale
$1,790,503

605-645 2Nd StXenia, OH 45385

13,260 SF, 100% Occupied, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 13,260-square-foot shopping center in Xenia, Ohio, boasting a remarkable 100% occupancy rate. The property, situated on a 1.38-acre lot at the signalized intersection of West 2nd Street and South Orange Street (10,900 combined vehicles per day), offers approximately 205 feet of frontage on West 2nd Street and 242 feet on South Orange Street. Built in 1988 and renovated in 2016 (including a new roof and HVAC systems), the single-story building houses four tenants, generating a strong net operating income (NOI) of $152,193, representing an 8.50% cap rate. The asking price is $1,790,503, translating to $135.03 per square foot. The weighted average lease term (WALT) stands at 3.59 years, providing excellent long-term stability. This thriving retail center benefits from its prime location within a growing community, close to Cox Elementary School (262 students) and numerous established businesses including Chase Bank, Taco Bell, FedEx, Ace Hardware, Dollar General, and Goodwill. Xenia's robust growth trajectory is further fueled by anticipated developments, including over 500 new single-family homes and a significant new manufacturing plant in a neighboring county. This presents a compelling investment opportunity with strong potential for future appreciation.

Highlights

  • 100% occupied, stabilized investment with $152,193 NOI.
  • 3.59-year weighted average lease term (WALT).
  • High-visibility corner location (W 2nd & S Orange Streets), 205' & 242' frontage, 10,900 VPD.
  • Strong surrounding retail and proximity to Cox Elementary School.
  • Benefiting from significant residential and industrial growth, including a planned $3.5 billion Honda/LG plant.

Property Details for 605-645 2Nd St

Property type
Lifestyle centers, Power centers
Square Feet
13,260 SF
Year Built/Renovated
1988/2016
Buildings
1
Stories
1
Lot Size (sq. ft)
60,113 SF

Location Insight

City
Xenia
County
Greene
State
Ohio
Latitude
39.6822891
Longitude
-83.9401253
605-645 2Nd St, Xenia, Ohio

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605-645 2Nd St
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