Building Details

Year Built 1993

Year Renovated 2023

Buildings 2

Stories 1

Units 24

Tenancy Multi

Listing Agency: Marcus & Millichap - Columbus

Listed By: Craig Fuller · License #OH 2008001551

Source: Crexi

Added: Apr 6 Changed: Oct 15 Last Checked: Oct 20 at 8:39PM

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Investment Insights

Based on property information with market context.

This For Sale retail shopping center totals 78,125 square feet and is presented with a stated 7.25% CAP rate. The offering is structured for buyers seeking income-producing retail real estate.

The property is located at 2301 Buttermilk Crossing in Crescent Springs, Kentucky (41017).

Key Highlights

• Retail shopping center built in 1993
• Stated 7.25% CAP rate
• 78,125 sq ft retail shopping center

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$846,917

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,938,340 $16.9M

Cap Rate 7%

$12,098,814 $12.1M

Cap Rate 9%

$9,410,189 $9.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 78,125 SF

Gross rent

$1.28M $16.44/SF

− Vacancy

−$74.5K −$0.95/SF

EGI

$1.21M $15.49/SF

− OpEx

−$363.0K −$4.65/SF

NOI

$846.9K $10.84/SF

Area

Kenton County, KY

Vacancy

5.80%

Lease Rate

$16.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,938,340

Cap Rate 7%

$12,098,814

Cap Rate 9%

$9,410,189

Alternative Uses

Best Use

Retail

$12.10M

$10.59M – $14.12M (±1% cap)

NOI $846,917 @ 7.0% cap · market cap 5.51%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$20.17M

$17.65M – $23.53M (±1% cap)

NOI $1,411,800 @ 7.0% cap · market cap 9.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Garden Center Storage Facility Parking Lot & Garage Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

278

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 41017, KY

40,333

Population

16,569

Households

2.4

Avg Household Size

40

Median Age

48%

College-Educated

97%

High-School Grad

21.2 sq mi

ZIP Area

1,903

Density / Sq Mi

$100,645

Median Household Income

$51,808

Median Earnings

$985

Median Rent

$278,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar Off Market Nearby

• Crestville Center — 2446 Anderson Rd, Crescent Springs, KY 41017
• Buttermilk Shoppes — 562 Buttermilk Pike, Crescent Springs, KY 41017
• Coinstar Kiosk | Bitcoin ATM — 560 Clock Tower Way, Crescent Springs, KY 41017

Frequently Asked Questions

What type of property is this?

Shopping center - For sale retail shopping center offering a stated 7.25% CAP rate.

Where is this shopping center located?

The property is located at 2301 Buttermilk Crossing Crescent Springs, KY.

What is the asking price?

The asking price for this property is $15,360,000.

What are key features of this property?

This property features: Retail shopping center built in 1993; Stated 7.25% CAP rate; 78,125 sq ft retail shopping center