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225 Columbia Mall Dr - Ollie's
26,000 SF Retail Condo Unit Offered at $2,458,320 in Bloomsburg, PA 17815
Investment Highlights
- Corporate guaranty from Ollie’s with $4.86B market cap
- Ollie’s space will have new roof , HVAC’s, and parking lot
- 46,000 cars per day
- Replaceable rents at $9 PSF with .35 PSF rent increases in options
- Mall to be completely transformed into open air lifestyle center
- Priced at only $94.55 PSF and well below replacement cost of $200+ PSF
Executive Summary
Capital Commercial Partners is pleased to bring to the market this Ollie’s Condo located at the Columbia Mall in Bloomsburg, PA. The investment offers an above market return with corporate guaranty from Ollie’s (NASDAQ: OLLI) with a $5.79B market cap. The tenant executed a new 8-year lease with a rent commencement of November 2024. Ollie’s agreed to a higher rent structure than they normally pay at $9 PSF demonstrating their expectation for strong store sales. The space was turned over to Ollie’s last week and certificate of occupancy was just issued. The mall is in the process of undergoing a complete transformation to open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place. This is a unique opportunity for an investor to acquire a great location, excellent return, corporate guaranty, tremendous upside with the mall redevelopment, and at only $94.55 per square foot; substantially below replacement cost of more than $200 PSF. The condo has been completely renovated with new roof, HVAC’s, plumbing, electrical, and parking lot.
Property Facts
| Price | $2,458,320 | Building Class | B |
| Unit Size | 26,000 SF | Floors | 1 |
| No. Units | 1 | Typical Floor Size | 26,000 SF |
| Total Building Size | 26,000 SF | Year Built | 1988 |
| Property Type | Retail (Condo) | Tenancy | Single |
| Property Subtype | Department Store | Lot Size | 9.47 AC |
| Sale Type | Investment |
| Price | $2,458,320 |
| Unit Size | 26,000 SF |
| No. Units | 1 |
| Total Building Size | 26,000 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Department Store |
| Sale Type | Investment |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 26,000 SF |
| Year Built | 1988 |
| Tenancy | Single |
| Lot Size | 9.47 AC |
1 Unit Available
Unit 6
| Unit Size | 26,000 SF | Sale Type | Investment |
| Price | $2,458,320 | Cap Rate | 7.50% |
| Price Per SF | $94.55 | NOI | $184,374.96 |
| Condo Use | Retail |
| Unit Size | 26,000 SF |
| Price | $2,458,320 |
| Price Per SF | $94.55 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| NOI | $184,374.96 |
Nearby Major Retailers
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225 Columbia Mall Dr - Ollie's
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