Current Use by Public Records
- Lifestyle centers
Property Details for 0 Summit St
- Year built
- 1970
- Lot size
- 9.39 lot acres
- 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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Celina
- County
- Mercer
- State
- Ohio
- Longitude
- -84.5731
- Latitude
- 40.5604
