AmeriStop Strip Center For
For Sale
Contact for pricing
3385 Springdale Rd, Cincinnati, OH
Retail strip center in excellent condition with renewed tenants.
Property Size7,250 SF
Lot Size1.78 Acres
Price / SF$210.34
Days on Market832
Property Features for 3385 Springdale Rd
General Information
Standard status
Active
Size
7,250 SF
Lot size
1.78 Acres
Property subtype
RETAIL
Listing Agency:
Sudbrack | Kron Commercial Real Estate Services
(513) 271-2460
Listed By:
Chip Sudbrack
(513) 382-8717
Source:
Moodyscre
Added: Jun 11, 2024
Changed: Sep 15
Last Checked: Sep 19 at 5:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sudbrack | Kron Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This property is an AmeriStop strip center located in front of a large apartment complex and across from a newly built nursing home and extended care facility. The property is in excellent shape with no deferred maintenance and features a large parking lot. Current tenants AmeriStop and Papa John's have recently renewed their leases. The property size is 7,250 square feet. This property is being sold as part of a package.
Key Highlights
- AmeriStop and Papa John's: Recently renewed leases ensure stable income.
- High visibility location in front of large apartment complex and across from a newly built nursing home and extended care facility.
- Strip center is in excellent shape with no deferred maintenance.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,585
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,671,700
$1.7M
Cap Rate 7%
$1,194,071
$1.2M
Cap Rate 9%
$928,722
$928.7K
Market Conditions
NOI Build-Up for 7,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$130.5K $18.00/SF
− Vacancy
−$11.1K −$1.53/SF
EGI
$119.4K $16.47/SF
− OpEx
−$35.8K −$4.94/SF
NOI
$83.6K $11.53/SF
Area
Cincinnati, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,671,700
Cap Rate 7%
$1,194,071
Cap Rate 9%
$928,722
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,585 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,884 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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Trade Area within ½ mile
553
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Cincinnati, OH
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center in excellent condition with renewed tenants.
Where is this strip mall located?
The property is located at 3385 Springdale Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: AmeriStop and Papa John's: Recently renewed leases ensure stable income.; High visibility location in front of large apartment complex and across from a newly built nursing home and extended care facility.; Strip center is in excellent shape with no deferred maintenance.
