1470 N Bridge St Chillicothe, OH 45601

Property Details for 1470 N Bridge St

Year built

1994

Lot size

21.06 lot acres

Property size

172,046 SF

Property type

Outlet malls

APN

30-54-61-045.000

APU

305461045000

Description

This exceptional investment opportunity presents a fee-simple, Class A retail property totaling 72,010 square feet situated on a 6.2-acre lot in Chillicothe, Ohio. The property boasts 100% occupancy with two prominent tenants: Adena Health System, occupying 49,366 square feet with nine years remaining on their lease, and Ashley HomeStore, commencing a ten-year lease in Fall 2023. The property features an attractive, modern storefront design and benefits from a strong regional draw, serving a population of approximately 77,000 people. Its strategic location is adjacent to a 94,000-square-foot Rural King retail store, acting as a significant shadow anchor. The property is surrounded by a robust mix of national retailers and restaurants, including Walmart, Lowe's, Kohl's, Sam's Club, and many more, ensuring high visibility and foot traffic. The property's Net Operating Income (NOI) is $493,096, resulting in an attractive 8.50% cap rate. The asking price is $5,801,000, translating to $80.56 per square foot. The building, constructed in 2023, consists of one single-story structure with two units. This stabilized medical/retail investment offers a compelling combination of strong tenants, high occupancy, and a prime location in a thriving commercial area. The average lease term remaining is 9.5 years, providing long-term stability and predictable cash flow.

Location Insight

City

Chillicothe

County

Ross

State

Ohio

Longitude

-82.9793

Latitude

39.3656

CBSA code

17060

CBSA name

CHILLICOTHE, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments