1170-1300 Indiana Ave Saint Marys, OH 45885

Property Details for 1170-1300 Indiana Ave

Year built

1990

Lot size

29.71 lot acres

Property size

238,839 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 238,839 square foot shopping center in St. Marys, Ohio presents a compelling value-add investment opportunity. Boasting 85% occupancy and a strong NOI of $965,101, the property features 30 units across a single-story building, recently renovated in 2021 with a new facade, roof, paint, EFIS, parking lot striping, and lighting. The 29.7-acre lot includes 910 parking spaces (3.79 per 1,000 sq ft GLA), shared with established businesses like McDonald's, Shell, and Beer Barrel Pizza. Situated at the high-traffic intersection of US-33 and State Route 29, this corner lot benefits from a dedicated turn lane and pylon signage. Tenants include Hobby Lobby, Tractor Supply, and others, with a future grocery store and Ollie's Bargain Outlet slated to open in Q1 2025. The property is located near Grand Lake St. Marys State Park, Wright State Lake Campus, and numerous other businesses and employers, serving a population with an average household income of $98,403 within 6 miles. The property is zoned C and offers a triple-net (NNN) lease structure. The asking price is $18,500,000 ($77.46/sq ft). This prime location, coupled with recent renovations and strong tenant occupancy, makes this a highly attractive investment. The property also benefits from a 10-year property tax exemption for new construction in the St. Marys Community Reinvestment Area. Individual tenant HVAC systems provide added control and efficiency. The property's prime location and strong tenant mix offer significant upside potential. This fee-simple ownership opportunity is a rare find in this thriving market.

Location Insight

City

Saint Marys

County

Auglaize

State

Ohio

Longitude

-84.4067

Latitude

40.5535