Building Details

Building Size 24,049 SF

Year Built 2000

Buildings 1

Tenancy Multi

Listing Agency: Legacy Real Estate Advisors

Listed By: Zainab Abikhodr Show Phone

Source: Legacycrea

Added: Sep 5 Changed: Oct 10 Last Checked: Oct 23 at 4:37AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This two-tenant shopping center contains a 24,049-square-foot retail building on a 0.83-acre parcel. Built in 2000, the property includes 70 surface parking spaces and is positioned for retail operations requiring customer access and convenient on-site parking.

The property fronts Wilmington Pike, where reported daily traffic exceeds 21,500 vehicles. It sits within a dense retail corridor near national retailers including Walmart, Target, McDonald's, and Starbucks. The surrounding trade area includes more than 6,400 residents within 1 mile and over 48,900 residents within 3 miles, along with 191,000+ daytime employees within 3 miles. Average household income within 1 mile exceeds $130,000.

Key Highlights

• 24,049 SF retail building on a 0.83‑acre lot
• Two‑tenant shopping center built in 2000
• 70 surface parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$279,685

Cap Rate

8.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,593,700 $5.6M

Cap Rate 7%

$3,995,500 $4.0M

Cap Rate 9%

$3,107,611 $3.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 24,049 SF

Gross rent

$432.9K $18.00/SF

− Vacancy

−$33.3K −$1.39/SF

EGI

$399.6K $16.61/SF

− OpEx

−$119.9K −$4.98/SF

NOI

$279.7K $11.63/SF

Area

Montgomery County, OH

Vacancy

7.70%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,593,700

Cap Rate 7%

$3,995,500

Cap Rate 9%

$3,107,611

Alternative Uses

Best Use

Retail

$4.00M

$3.50M – $4.66M (±1% cap)

NOI $279,685 @ 7.0% cap · market cap 8.88%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$227.46M

$199.03M – $265.37M (±1% cap)

NOI $15,922,049 @ 7.0% cap · market cap 505.46%

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

Property Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon

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

Lease Details

21,500 VPD

Traffic count

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

819

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 45459, OH

28,344

Population

13,988

Households

2

Avg Household Size

50

Median Age

50%

College-Educated

98%

High-School Grad

14.2 sq mi

ZIP Area

1,996

Density / Sq Mi

$89,144

Median Household Income

$54,044

Median Earnings

$1,187

Median Rent

$276,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

See more

Neighborhood Retail Center

890 S Main St, Centerville, OH 45458

Contact for pricing

97,617 SF

View details

Two-Story Brick Office Building

848 E Franklin Street, Centerville, OH 45459

$195,000

1,365 SF

View details

Professional Office Condo

860 E Franklin Street, Centerville, OH 45459

$169,000

1,200 SF

View details

Similar Off Market Nearby

• Bellbrook Community Shopping Center — 4453 W Franklin St, Bellbrook, OH 45305
• Sugar Bell Shopping Center — 4417 W Franklin St, Bellbrook, OH 45305
• Coinstar Kiosk | Bitcoin ATM — Kroger - Cincinnati, 6480 Wilmington Pike, Dayton, OH 45459
• Sugarcreek Plaza Shopping Center — 6000 Wilmington Pike, Dayton, OH 45459, United States

Frequently Asked Questions

What type of property is this?

Shopping center - Established retail property with substantial parking, prominent Pike exposure, and nearby national retailers.

Where is this shopping center located?

The property is located at 6254 Wilmington Pike Centerville, OH.

What is the asking price?

The asking price for this property is $3,150,000.

What are key features of this property?

This property features: 24,049 SF retail building on a 0.83‑acre lot; Two‑tenant shopping center built in 2000; 70 surface parking spaces