304-316 N Broad St
Fairborn, OH 45324
Shoppes on Broad · Retail Property For Sale

The Klink Group of Marcus and Millichap is pleased to present for sale Shoppes on Broad. The subject property is an 11,600-square foot retail property situated on 1.15 acres in Fairborn, Ohio. Shoppes on Broad is a 55% occupied shopping center, offering an incoming investor a significant amount of upside potential through lease-up. The subject property is uniquely positioned across from Wright-Patterson Air Force Base along Broad Street which is accustomed to nearly 10,000 vehicles passing daily. The majority of the tenants have shown long-term occupancy in the building of 30+ years with the anchor tenant currently on a long-term lease. All tenants operate on a triple-net lease structure with competitive rents averaging $9.84 per square foot. Shoppes on Broad gives an incoming investor the opportunity to purchase a retail center with significant value-add through lease up. Leasing up the 2,000-square foot vacancy at a conservative $9.00 per square foot market rent will increase the cap rate to 11.08% and increase an additional 20 basis points when each of the remaining 1,600-square foot suites are leased up. Given the current long-term nature of the anchor tenants, the subject property also offers stability during the lease up process.