1942 Stroop Rd Dayton, OH 45429-4325

Property Details for 1942 Stroop Rd

Year built

1970

Lot size

9.27 lot acres

Property size

42,758 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

N64 03404 0102

APU

N64034040102

Description

This exceptional investment opportunity presents a 27,780 square foot retail storefront located at 1942 E Stroop Rd, Kettering, OH 45429. The property, built in 1970, sits on a 4.28-acre lot and boasts a strong 99.6% occupancy rate with only three tenants. The asking price is $2,125,000, representing a compelling $76 per square foot cost and an 8.00% capitalization rate based on a Net Operating Income (NOI) of $169,967. The property features long-term leases with a weighted average lease term (WALT) of 7 years, offering significant stability and future upside potential. Current annual base rent is $7.41 per square foot, with opportunities to increase rents as leases expire and mark-to-market. The property benefits from its prime location at the intersection of high-traffic roads, across from a high-performing Meijer supermarket, which draws approximately 1.94 million customer visits annually. The surrounding area demonstrates strong demographics, with over 190,000 residents within a 5-mile radius and average household incomes exceeding $91,000. The ease of management, with minimal CAM responsibilities, further enhances the investment appeal. This offering is significantly below replacement cost, making it a truly attractive investment opportunity. The property is currently 99.6% leased, with a vacant ATM site presenting an immediate opportunity to increase income.

Location Insight

City

Dayton

County

Montgomery

State

Ohio

Longitude

-84.1292

Latitude

39.6876

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments