Multi-Tenant Retail Strip
For Sale
$2,000,000
5710 Glenway Avenue, Cincinnati, OH 45238
Multi-tenant retail strip center anchored by Hobby Lobby, Dollar Tree, Chipotle, and Ollie’s, fronting Glenway Avenue.
Property Size8,100 SF
Days on Market32
Property Features for 5710 Glenway Avenue
General Information
Standard status
Active
Size
8,100 SF
Property subtype
Retail
Additional Details
Traffic Count
30,000 vehicles/day
Building Details
Building Size
8,100 SF
Tenancy
Multi
Listing Agency:
Legacy Real Estate Advisors
(248) 892-9691
Listed By:
Rami Gulli · License #MI ##6501453450
(248) 892-9691
Source:
Legacycrea
Added: Jul 26
Changed: Aug 15
Last Checked: Aug 26 at 6:26AM
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 Legacy Real Estate Advisors
Investment Insights
Based on property information with market context.
This multi-tenant retail strip center is anchored by Hobby Lobby, Dollar Tree, Chipotle, and Ollie’s Bargain Outlet, supported by additional surrounding retail. The property is presented for sale as part of a broader commercial corridor.
The asset is located in Cincinnati, OH within the Cincinnati MSA. Public remarks indicate the center is near a dense retail corridor with high vehicle traffic, with 30,000+ vehicles passing the site daily on Glen Way Avenue.
The surrounding market profile described in the remarks includes 16,000+ residents within a 1-mile radius and 224,000+ people within a 5-mile radius.
The asset is located in Cincinnati, OH within the Cincinnati MSA. Public remarks indicate the center is near a dense retail corridor with high vehicle traffic, with 30,000+ vehicles passing the site daily on Glen Way Avenue.
The surrounding market profile described in the remarks includes 16,000+ residents within a 1-mile radius and 224,000+ people within a 5-mile radius.
Key Highlights
- Multi‑tenant retail strip center fronting Glenway Avenue in Cincinnati, OH (Cincinnati MSA).
- Anchored by Hobby Lobby, Dollar Tree, Chipotle, and Ollie’s Bargain Outlet.
- 30,000+ vehicles pass the site daily on Glenway Avenue.
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
$75,933
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
3.80%
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%
$1,518,660
$1.5M
Cap Rate 7%
$1,084,757
$1.1M
Cap Rate 9%
$843,700
$843.7K
Market Conditions
NOI Build-Up for 8,100 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
$116.6K $14.40/SF
− Vacancy
−$8.2K −$1.01/SF
EGI
$108.5K $13.39/SF
− OpEx
−$32.5K −$4.02/SF
NOI
$75.9K $9.37/SF
Area
ZIP 45238
Vacancy
7.00%
Lease Rate
$14.40 /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%
$1,518,660
Cap Rate 7%
$1,084,757
Cap Rate 9%
$843,700
Alternative Uses
Best Use
Retail
$1.08M
$949.2K – $1.27M
NOI $75,933 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,161 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,060
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45238, OH
46,864
Population
21,834
Households
2.1
Avg Household Size
37
Median Age
27%
College-Educated
91%
High-School Grad
10.3 sq mi
ZIP Area
4,550
Density / Sq Mi
$64,672
Median Household Income
$40,043
Median Earnings
$913
Median Rent
$168,800
Median Home Value
Market
Vacancy Rate% for Retail in Cincinnati, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail strip center anchored by Hobby Lobby, Dollar Tree, Chipotle, and Ollie’s, fronting Glenway Avenue.
Where is this shopping center located?
The property is located at 5710 Glenway Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Multi‑tenant retail strip center fronting Glenway Avenue in Cincinnati, OH (Cincinnati MSA).; Anchored by Hobby Lobby, Dollar Tree, Chipotle, and Ollie’s Bargain Outlet.; 30,000+ vehicles pass the site daily on Glenway Avenue.
