1800 Tiffin AveFindlay, OH 45840

Property Details for 1800 Tiffin Ave

Year built

1990

Lot size

3.02 AC

Property size (Sq ft)

81,032 SF

Property type

Community centers

APN

210001032422

APU

210001032422

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $16,496,352

  6.5%

  $15,227,402

  7%

  $14,139,730

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,100,928

  Geo Method

  $19,100,928

• Alternative Use

  Use

  Valuation

  Residential

  $12,844,883

  Hospitality

  $11,765,844

  Educational

  $9,789,044

  Medical

  $10,125,704

  Retail

  $15,227,402

Location Insight

City

Findlay

County

Hancock

State

Ohio

Latitude

41.0541

Longitude

-83.6155

CBSA code

22300

CBSA name

FINDLAY, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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