Hamilton Shops – Hamilton, OH

CareFirst Urgent Care, Hi-Tek Nails, Little Caesars, RentMart, Skyline Chili
1476 South Erie Boulevard, Hamilton, OH, USA

We are pleased to exclusively offer for sale Hamilton Shops, located at 1476-1496 South Erie Boulevard in Hamilton, OH. The property includes a 100% leased 6-tenant strip center on a long-term Ground Lease (Ground Lease runs for ~65 years, including options), providing a new investor with long-term security, strong cash flow, and full depreciation benefits. Shadow anchored by a top-producing Kroger grocery store (Placer.ai) with ~1.3 million visits per year, the subject property benefits from a strong destination location and customer draw. With a long term operating history and low historical vacancy, this property provides an investor with security, high yield, low cost PSF, and favorable depreciation benefits.

  • Shadow Anchored by Top-Performing Kroger (NAP): Kroger ranks in the top 4% of grocery stores nationwide, according to Placer.ai, attracting ~1.3 million annual visits and generating significant customer traffic to the center.
  • 100% Leased with a Diversified Tenant Mix: Fully occupied by 6 tenants spanning casual dining, healthcare, and essential services, providing diversified income and broad consumer appeal.
  • Attractive High-Yield, Low-Basis Opportunity: Offered at an 8.93% CAP Rate and $162.54 PSF, providing compelling in-place yield at an attractive basis.
  • Below-Market Rents with Future Upside: Average rents of ~$16.08 PSF provide potential future upside through lease renewals and rent growth.
  • Long-Term Tenant History & Low Historical Vacancy: 4 of the 6 tenants have operated at the property for 15+ years, demonstrating strong tenant retention and long-term stability.
  • Long-Term Leasehold Interest: ~65 years remain on the leasehold, including options, providing long-term control and depreciation benefits for a new investor.
  • Affluent Trade Area: Average household income exceeds $95,014 within a 5-mile radius, supporting strong consumer spending power.
  • Dense Surrounding Population: 147,000+ residents live within a 5-mile radius, providing a substantial customer base that supports the center’s continued performance.
  • Established Retail Corridor: Surrounded by prominent national and regional retailers, including Kroger, Chipotle, McDonald’s, Sonic Drive-In, Secure EZ Storage, Domino’s Pizza, and more.

In Cooperation With ParaSell, Inc. , A Licensed Ohio Broker – Lic. #REC.2020005946 BoR: Scott Reid – Lic. OH #BRKP.2020001224

 

Price

$2,250,000

Cap Rate

8.93%

PREMISES

13,843 SF

RENEWAL OPTIONS

Varies

Lease Expiration

Varies

BROKERS

Daniel Hoogesteger
Nashville
Mitch Fenske
Nashville

List with SIG

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