1247 High StHillsboro, OH 45133

Property Details for 1247 High St

Lot size

5.25 AC

Property size (Sq ft)

48,152 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This fee-simple retail property in Hillsboro, Ohio presents a compelling investment opportunity. The 48,152 square-foot building is currently 100% occupied by Dunham's Sports under a corporate lease with eight years remaining, plus four five-year options with $0.25 per square foot rent increases. The asking price is $2,092,000, representing a price per square foot of $43.45, significantly below replacement cost. The property boasts a strong 8.5% capitalization rate and a net operating income (NOI) of $177,851. The building, renovated in 2022, sits on a 5.25-acre lot at 1247 N High St, 45133, and benefits from a gross lease structure where the tenant is responsible for 100% of HVAC maintenance and repairs. The landlord is responsible for roof, structure, and exterior maintenance. This strategically located property enjoys high visibility and serves a regional market, with nearby anchors including Rural King and Highland District Hospital, further enhancing its appeal and drawing customers from a 10-15 mile radius. The property's strong tenant, long-term lease, and below-market price make it an attractive addition to any portfolio. The property is classified as a stabilized investment with low building cost per square foot.

Location Insight

City

Hillsboro

County

Highland

State

Ohio

Latitude

39.2204

Longitude

-83.6086

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