1247 High St Hillsboro, OH 45133
- Lifestyle centers
- 48,152 SF
- 5.25 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1247 High St
- Lot size
- 5.25 lot acres
- Property size
- 48,152 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This fee-simple retail property in Hillsboro, Ohio presents a compelling investment opportunity. The 48,152 square-foot building is currently 100% occupied by Dunham's Sports under a corporate lease with eight years remaining, plus four five-year options with $0.25 per square foot rent increases. The asking price is $2,092,000, representing a price per square foot of $43.45, significantly below replacement cost. The property boasts a strong 8.5% capitalization rate and a net operating income (NOI) of $177,851. The building, renovated in 2022, sits on a 5.25-acre lot at 1247 N High St, 45133, and benefits from a gross lease structure where the tenant is responsible for 100% of HVAC maintenance and repairs. The landlord is responsible for roof, structure, and exterior maintenance. This strategically located property enjoys high visibility and serves a regional market, with nearby anchors including Rural King and Highland District Hospital, further enhancing its appeal and drawing customers from a 10-15 mile radius. The property's strong tenant, long-term lease, and below-market price make it an attractive addition to any portfolio. The property is classified as a stabilized investment with low building cost per square foot.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hillsboro
- County
- Highland
- State
- Ohio
- Longitude
- -83.6086
- Latitude
- 39.2204
