10894 New Haven RdHarrison, OH 45030

Property Details for 10894 New Haven Rd

Year built

1989

Lot size

1.35 AC

Property size (Sq ft)

3,647 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

561-0005-0209-00

APU

5610005020900

Description

This exceptional investment opportunity presents a fee-simple interest in a Class A, 2,225 square-foot Starbucks located in Harrison, Ohio (Cincinnati MSA). Built in 2022, this single-tenant property boasts a strong 10-year net lease (NN+) with a credit-rated tenant, commencing September 21, 2022, and expiring February 28, 2033. The lease includes four 5-year renewal options, ensuring long-term stability. The property features a drive-thru capable of handling over 20 vehicles, 59 parking spaces, and is situated on a 1.35-acre lot. The strategic location directly off I-74 and New Haven Road provides exceptional visibility and accessibility, benefiting from high daily vehicle counts. The lease includes a 10% rent increase every five years, protecting against inflation and enhancing returns. The property's strong NOI of $155,764 and a 5.30% cap rate make it an attractive investment. The surrounding area shows significant growth, with a 7% annual population increase over the past three years and an average household income exceeding $85,000. Numerous national retailers are nearby, further solidifying the location's strength. This is a low-management, passive investment opportunity with significant upside potential. The property's asking price is $2,939,000, with a price per square foot of $1,320.90.

• CAP approach

  CAP return

  Valuation

  6%

  $791,705

  6.5%

  $730,805

  7%

  $678,604

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,141,361

  Geo Method

  $1,141,361

• Alternative Use

  Use

  Valuation

  Residential

  $616,461

  Hospitality

  $564,675

  Educational

  $469,803

  Medical

  $485,960

  Retail

  $730,805

Location Insight

City

Harrison

County

Hamilton

State

Ohio

Latitude

39.259

Longitude

-84.7993

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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