Summit St Celina, OH 45822

Property Details for 0 Summit St

Year built

1970

Lot size

9.39 lot acres

Property size

82,500 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a stabilized, 82,500 square foot retail center in Celina, Ohio, boasting a strong 8.25% cap rate and a Net Operating Income (NOI) of $330,000. The property, situated on a 9.39-acre lot at a high-traffic location on SR 127, features eight tenants with 97.25% occupancy under a triple-net (NNN) lease structure. The single-story building, constructed in 1970, has undergone significant recent improvements, including a complete replacement of the primary electrical feeds and transformer (June 2023), a parking lot overlay in front of the supermarket (October 2023), and the installation of new LED lighting throughout the parking lot and building perimeter (April & October 2023). The roof is newer TPO, excluding the warehouse section. The property offers 400 parking spaces and is zoned B-3 Community Shopping Center. This well-maintained asset provides a compelling investment opportunity for those seeking a high-performing retail property in a desirable Ohio market. The asking price is $4,000,000, translating to a price per square foot of $48.48. The property's strong tenant mix and recent upgrades contribute to its attractive NOI and projected continued success. This is a rare opportunity to acquire a well-leased, high-visibility retail center with significant upside potential.

Location Insight

City

Celina

County

Mercer

State

Ohio

Longitude

-84.5731

Latitude

40.5604