605-645 2nd St Xenia, OH 45385

Property Details for 605-645 2nd St

Year built

1988

Property size

13,260 SF

Property type

Community centers

APN

M40-0001-0018.0-0208.00

APU

M40000100180020800

Description

This exceptional investment opportunity presents a 13,260-square-foot shopping center in Xenia, Ohio, boasting a remarkable 100% occupancy rate. The property, situated on a 1.38-acre lot at the signalized intersection of West 2nd Street and South Orange Street (10,900 combined vehicles per day), offers approximately 205 feet of frontage on West 2nd Street and 242 feet on South Orange Street. Built in 1988 and renovated in 2016 (including a new roof and HVAC systems), the single-story building houses four tenants, generating a strong net operating income (NOI) of $152,193, representing an 8.50% cap rate. The asking price is $1,790,503, translating to $135.03 per square foot. The weighted average lease term (WALT) stands at 3.59 years, providing excellent long-term stability. This thriving retail center benefits from its prime location within a growing community, close to Cox Elementary School (262 students) and numerous established businesses including Chase Bank, Taco Bell, FedEx, Ace Hardware, Dollar General, and Goodwill. Xenia's robust growth trajectory is further fueled by anticipated developments, including over 500 new single-family homes and a significant new manufacturing plant in a neighboring county. This presents a compelling investment opportunity with strong potential for future appreciation.

Location Insight

City

Xenia

County

Greene

State

Ohio

Longitude

-83.9401

Latitude

39.6824

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments