Advance Auto Parts Retail
For Sale
$1,779,025
4633 Eastgate Blvd, Cincinnati, OH 45245
Outparcel at a signalized intersection with multiple access points and on-site parking.
Property Size10,056 SF
Days on Market194
Property Features for 4633 Eastgate Blvd
General Information
Standard status
Active
Size
10,056 SF
Class
B
Property subtype
Street Retail
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Building Size
10,056 SF
Year Built
2013
Tenancy
Single
Listing Agency:
Encore Real Estate Investment Services
(734) 945-5967
Listed By:
Danny Samona · License #6501387591
(734) 945-5967
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 5:15AM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
This 2013 retail property is positioned as an outparcel serving Eastgate Mall in Cincinnati. The surrounding center is anchored by Dillard's, Kohl's, and JCPenney and includes more than 55 retail stores and services. The property is identified as Advance Auto Parts retail space and includes ample parking with several access points.
The building sits at the signalized intersection of Old State Rd and Eastgate Blvd, with reported traffic volumes of 14,270+ VPD and 16,350+ VPD, respectively. Nearby national retailers include Kroger, Walmart, Chick-fil-A, Meijer, Sam's Club, Hobby Lobby, and Ulta. Lease terms provide three 5-year renewal options, with a 7.5% rental increase in each option.
The building sits at the signalized intersection of Old State Rd and Eastgate Blvd, with reported traffic volumes of 14,270+ VPD and 16,350+ VPD, respectively. Nearby national retailers include Kroger, Walmart, Chick-fil-A, Meijer, Sam's Club, Hobby Lobby, and Ulta. Lease terms provide three 5-year renewal options, with a 7.5% rental increase in each option.
Key Highlights
- Outparcel serving Eastgate Mall, anchored by Dillard's, Kohl's, and JCPenney
- 2013 retail property identified as Advance Auto Parts
- Signalized intersection of Old State Rd and Eastgate Blvd
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
$115,936
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
6.52%
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%
$2,318,720
$2.3M
Cap Rate 7%
$1,656,229
$1.7M
Cap Rate 9%
$1,288,178
$1.3M
Market Conditions
NOI Build-Up for 10,056 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
$181.0K $18.00/SF
− Vacancy
−$15.4K −$1.53/SF
EGI
$165.6K $16.47/SF
− OpEx
−$49.7K −$4.94/SF
NOI
$115.9K $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%
$2,318,720
Cap Rate 7%
$1,656,229
Cap Rate 9%
$1,288,178
Alternative Uses
Best Use
Retail
$1.66M
$1.45M – $1.93M
NOI $115,936 @ 7.0% cap · market cap 6.52%
Second Best
Industrial
$703.3K
$615.4K – $820.5K
NOI $49,229 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,929 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
162k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 40%
Groceries 36%
Shops & Services 21%
Office Supplies 3%
Kroger
Groceries
58,447 visits/mo
0.4 miles
Marshalls
Apparel
43,062 visits/mo
0.4 miles
Dollar Tree
Shops & Services
28,585 visits/mo
0.4 miles
Ross Dress for Less
Apparel
20,904 visits/mo
0.4 miles
OfficeMax
Office Supplies
5,106 visits/mo
0.4 miles
Demographics for 45245, OH
20,249
Population
8,897
Households
2.3
Avg Household Size
43
Median Age
30%
College-Educated
92%
High-School Grad
15.8 sq mi
ZIP Area
1,282
Density / Sq Mi
$73,135
Median Household Income
$48,351
Median Earnings
$1,123
Median Rent
$259,500
Median Home Value
Market
Vacancy Rate% for Retail in Cincinnati, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Outparcel at a signalized intersection with multiple access points and on-site parking.
Where is this retail space located?
The property is located at 4633 Eastgate Blvd Cincinnati, OH.
What is the asking price?
The asking price for this property is $1,779,025.
What are key features of this property?
This property features: Outparcel serving Eastgate Mall, anchored by Dillard's, Kohl's, and JCPenney; 2013 retail property identified as Advance Auto Parts; Signalized intersection of Old State Rd and Eastgate Blvd
