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BrightView, Cincinnati, OH

BrightView, Cincinnati, OH


Investment Summary

Price $1,305,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Replacement Of The Roof And The Structure
Rental Increases 1.5% Annual Rental Increases
Year Built Contact For Details
Building Size 6,366 SF
Lot Size 0.9 Acres (39,204 SF)
Status Sold
Lead Brokers Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NET LEASE WITH RARE ANNUAL RENTAL INCREASES
» 10-year net lease with minimal landlord management
» Rare 1.5% annual rental increases, providing a hedge against inflation
» BrightView is a private medical services provider that focuses on addiction treatment that now operates 51 medical centers in Ohio, Kentucky, Virginia, and Delaware

EASILY ACCESSIBLE AND HIGH-TRAFFIC LOCATION IN POPULOUS OHIO SUBMARKET
» Strategic location on Colerain Avenue (29,760 AADT) with access to Ronald Reagan Cross County Highway (16,596 AADT)
» Beneficial proximity to highly trafficked Cincinnati thoroughfares, including Interstate 275 (82,734 AADT) and Interstate 74 (70,952 AADT)
» 208,887 residents live within a five-mile radius of the property
» Average annual household income of $72,835 within five miles of the site
» Projected 13 percent average annual household income increase in the next five years, poising BrightView and Cincinnati for significant concurrent growth

CENTRAL LOCATION NEAR SCHOOLS, HOSPITALS, AND LARGE EMPLOYERS, INCREASING VISIBILITY TO THE SITE
» Four large hospitals within a seven-mile radius of the site: Mercy Health – West Hospital (281 beds), Cincinnati Children’s College Hill Hospital (130 beds), Good Samaritan Hospital (650+ beds), and Good Samaritan Western Ridge (700 beds, 500+ employees)
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Staples, The Home Depot, CVS Pharmacy, O’Reilly Auto Parts, Arby’s, Wendy’s, and more, increasing the site’s visibility
» Proximity to several schools, including Aiken High School – New Tech (957 students), White Oak Middle School (797 students), La Salle High School (638 students), and Struble Elementary School (516 students)
» Near major area employers such as Proctor & Gamble Co (10,000 employees) and Northwest Local School District (1,200+ employees)
» 9.4 miles from Downtown Cincinnati (third largest city in Ohio, population of 309,317)

Property Description

SOLD

The property has an easily accessible location on Colerain Avenue (29,760 AADT). The site maintains beneficial proximity to highly trafficked Cincinnati thoroughfares, including Interstate 275 (82,734 AADT) and Interstate 74 (70,952 AADT). The property benefits from its central location in a densely populated area, with 208,887 residents living within a five-mile radius of the property. The average household income is $72,835 within five miles of the site and is projected to increase 13 percent in the next five years, poising BrightView and Cincinnati for significant concurrent growth.

The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, The Home Depot, Staples, CVS Pharmacy, O’Reilly Auto Parts, Arby’s, Wendy’s, and many more. The property is centrally located 9.4 miles from Downtown Cincinnati, the third-largest city in Ohio with a population of 309,317. The property is strategically located near four large hospitals: Mercy Health – West Hospital (281 beds), Cincinnati Children’s College Hill Hospital (130 beds), Good Samaritan Hospital (650+ beds), and Good Samaritan Western Ridge (700 beds, 500+ employees, 145,000 SF), all within a seven-mile radius of the site. Several major employers reside near the property, including Proctor & Gamble Co (10,000 employees) and Northwest Local School District (1,200+ employees). Additionally, the property is close to many schools, including Aiken High School – New Tech (957 students), White Oak Middle School (797 students), La Salle High School (638 students), and Struble Elementary School (516 students).

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