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    1501 N Bechtle Ave Springfield, OH 45504

    For Sale
    $2,013,000

    Retail strip center with value-add opportunity in Springfield, Ohio.

    Property size:
    42,061 SF
    Lot size:
    5.25 Acres

    Property Features for 1501 N Bechtle Ave

    General Information

    Size
    42,061 SF
    Lot size
    5.25 Acres

    Source: CP Partners Agent Chris Kostanecki

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Springfield Commons Outparcel Retail Opportunity

    Springfield Commons Outparcel is a 3-unit strip center currently occupied by Planet Fitness and Mattress Firm. An investor has an immediate add-value opportunity through the lease-up of the 9,780 square foot vacant end cap, which makes up 23.25% of the total gross leasable area. Once stabilized, an investor will benefit from a sizable boost to the net operating income and cap rate expansion. Planet Fitness and Mattress Firm have operated at the property for over 10 years. Planet Fitness is leased to an experienced operator with locations in various states, and Mattress Firm is a corporate location. The property is well-positioned off of a signalized intersection and features prominent pylon signage. N Bechtle Avenue features prominent national retailers, including Walmart, The Home Depot, Meijer, and Kroger, all of which are within close proximity to the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mattress Firm Clearance ... Mattress Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8363321
    Latitude
    39.9430133

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    FAQs

    What type of property is this?
    Strip mall - Retail strip center with value-add opportunity in Springfield, Ohio.
    Where is this strip mall located?
    The property is located at 1501 N Bechtle Ave Springfield, OH.
    What is the asking price?
    The asking price for this property is $2,013,000.
    What are key features of this property?
    This property features: - Immediate add-value opportunity through lease-up of 9,780 SF vacant end cap (23.25% of GLA).; - Offered at an extremely low price per square foot ($47.86).; - Planet Fitness and Mattress Firm have operated at the location for 10+ years.
    (415) 274-2700
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    1501 N Bechtle Ave Springfield, OH 45504
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    Springfield, OH 45504
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1501 N Bechtle Ave Springfield, OH 45504
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