1915 Central AveMiddletown, OH 45044

Property Details for 1915 Central Ave

Year built

1999

Lot size

1.55 AC

Property size (Sq ft)

10,966 SF

Property type

Retail space

APN

Q6532-028.000-100

APU

Q6532028000100

Description

This exceptional investment opportunity presents a fee-simple interest in an 11,180 square foot Dollar Tree, situated on a 1.55-acre lot at 1915 Central Ave, Middletown, OH 45044. The property boasts a brand-new, 10-year triple-net (NNN) lease commencing June 13, 2024, and expiring June 30, 2034, with four 5-year renewal options. The lease includes rent bumps of $0.50 per square foot in each option period. The tenant, Dollar Tree, is a credit-rated, corporate-guaranteed entity, ensuring a stable income stream. The property's asking price is $2,236,000, representing a price per square foot of $200 and a 7.00% cap rate based on a net operating income (NOI) of $156,520. Built in 1999 and renovated in 2024, this convenience/grocery store enjoys 100% occupancy and benefits from a high-traffic location on a hard corner, signalized intersection with over 19,700 vehicles passing daily. The property is strategically located near other retailers including O'Reilly Auto Parts, AutoZone, and Dollar General, and within a densely populated area with over 84,000 residents within a five-mile radius, including proximity to Middletown High School, Middletown Middle School, and Miami University Middletown.

• CAP approach

  CAP return

  Valuation

  6%

  $2,553,817

  6.5%

  $2,357,370

  7%

  $2,188,986

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,139,423

  Geo Method

  $3,431,906

• Alternative Use

  Use

  Valuation

  Residential

  $1,988,529

  Hospitality

  $1,821,482

  Educational

  $1,515,452

  Medical

  $1,567,570

  Retail

  $2,357,370

Location Insight

City

Middletown

County

Butler

State

Ohio

Latitude

39.5133

Longitude

-84.3911

CBSA code

17140

CBSA name

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

Property Tax & Assessments

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