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).