Property profile

2953 Derr Rd Springfield, OH 45503

OFF-MARKET
Drive through restaurants
Property ID
US66-5524701
2,040 SF 0.46 ac lot Built 2003
Entity Owned 8-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail center, located at 2953-2989 Derr Rd, Springfield, OH 45503, presents a unique investment opportunity. Situated on the northern edge of Springfield, this Class B shopping center enjoys a prime location, being the only retail center within a 2-mile radius, serving a densely populated residential area. The property features three available spaces, totaling 5,550 square feet, with individual spaces measuring 1,000, 2,250, and 2,300 square feet. The center benefits from a strong anchor tenant, Kroger, ensuring consistent foot traffic and high visibility. Its convenient location and excellent accessibility are further enhanced by ample parking and the availability of building signage. The property is conveniently located near the cross street of Villa Road in the Springfield submarket of Clark County. This presents a rare chance to establish a business in a thriving community with minimal competition and high potential for growth. The property's strategic positioning and existing infrastructure make it an ideal choice for a variety of retail businesses seeking a strong foothold in a well-established residential area.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 2003
Construction BRICK
Total area 2,040 SF
Lot 0.46 ac (19,994 SF)
APN 340-03-00025-100-071
UPID US66-5524701

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

2953 Derr Rd Springfield, OH 45503-1341
Springfield metro Census 2404 SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$285k

Owner & transaction history

since 2017
3 recorded transactions
2017
Price N/A
2007
$4.2M
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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