605-645 W 2nd St | Xenia, OH 45385
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605-645 W 2nd St
Xenia, OH 45385
Retail Property For Sale
Investment Highlights
- Stabilized Investment Opportunity: Currently 100% occupied with an operating NOI of $152,193.
- Prominent location: The center is situated on the signalized hard corner of West 2nd Street and South Orange Street (10,900 combined VPD).
- Surrounding retailers include Chase Bank, Taco Bell, FedEx, Ace Hardware, Dollar General, Goodwill & more.
- Weighted Average Lease Term (WALT) of 3.59 Years: The WALT of all the tenants combined is approximately 3.59 years.
- The center is in the heart of the community, Cox elementary is 0.5 miles north of the center (262 students).
- Xenia is poised for continued growth with multiple new developments including more than 500 new single-family homes are expected to be built soon.
Executive Summary
AQRE Advisors is pleased to offer for sale Orange Street Square located at 605-645 West 2nd Street, Xenia, Ohio. The 13,260-sf neighborhood shopping center was built in 1988 & renovated in 2016 with a new roof and HVAC units. The center sits on a 1.38-acre lot on the signalized hard corner of West 2nd Street and South Orange Street (10,900 combined VPD). The center is currently 100% occupied with a weighted average lease term (WALT) of 3.59 years.
Orange Street Square is located in the growing market of Xenia Ohio, a southeastern suburb of Dayton, Ohio. Located just 15.4 miles from downtown Dayton the center is apart of the southeastern Dayton submarket which boasts a retail vacancy rate of just 2.6% and continues to show strong rent growth within the region.
Orange Street Square is located in the growing market of Xenia Ohio, a southeastern suburb of Dayton, Ohio. Located just 15.4 miles from downtown Dayton the center is apart of the southeastern Dayton submarket which boasts a retail vacancy rate of just 2.6% and continues to show strong rent growth within the region.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
13,200 SF
Building Class
C
Year Built
1988
Price
$1,790,503
Price Per SF
$136
Cap Rate
8.50%
NOI
$152,193
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
1.38 AC
Parking
75 Spaces (5.68 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | M40-0001-0018-0-0208-00 | Improvements Assessment | $175,090 |
| Land Assessment | $103,660 | Total Assessment | $278,750 |
PROPERTY TAXES
Parcel Number
M40-0001-0018-0-0208-00
Land Assessment
$103,660
Improvements Assessment
$175,090
Total Assessment
$278,750
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