8209 Springboro PikeMiamisburg, OH 45342

Property Details for 8209 Springboro Pike

Year built

1987

Construction

WOOD

Lot size

1.18 AC

Property size (Sq ft)

3,522 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

K45 25812 0002

APU

K45258120002

Description

This exceptional investment opportunity presents a fee-simple interest in a Hardee's restaurant located at 8209 N Springboro Pike, Miamisburg, OH 45342. The property boasts a 20-year absolute triple-net (NNN) lease commencing October 1, 2024, and expiring October 1, 2044, with four to five-year renewal options. The 3,522 square foot building, constructed in 1987 and renovated in 2019, sits on a 1.18-acre lot and includes a drive-thru. The lease includes a 7.5% rent increase every five years, providing inflation protection. The property enjoys a prime location along a high-traffic retail corridor, with over 24,000 vehicles passing daily, serving a densely populated market with over 465,000 residents within a 20-minute radius. The tenant, Midwest First Star Inc., operates 35 Hardee's locations across Ohio, Indiana, and Kentucky, demonstrating a strong commitment to the location and active growth within the CKE system. The property offers a 6.15% cap rate with a net operating income (NOI) of $110,000 and an asking price of $1,788,617 ($507.84 per square foot). This is a truly passive investment opportunity with significant long-term potential. The property is 100% occupied and features a single tenant. The property's APN is K45 25812 0002. This is a fee simple ownership with a sale for leaseback condition.

• CAP approach

  CAP return

  Valuation

  6%

  $820,221

  6.5%

  $757,127

  7%

  $703,047

• Comparable approach

  Method

  Valuation

  Relative Method

  $687,128

  Geo Method

  $174,757

• Alternative Use

  Use

  Valuation

  Residential

  $638,665

  Hospitality

  $585,014

  Educational

  $486,725

  Medical

  $503,464

  Retail

  $757,127

Location Insight

City

Miamisburg

County

Montgomery

State

Ohio

Latitude

39.6311

Longitude

-84.2263

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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