1470 N Bridge St
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1470 N Bridge St
172,046 SF 100% Leased Retail Building Chillicothe, OH 45601 £4,624,557 (£27/SF) 8.50% Net Initial Yield
Investment Highlights
- Two-Tenant Medical/Retail with Adena Health and Ashley HomeStore
- High Barrier to Entry Market Serving over 77,000 People
- Attractive Modern Storefront Design
- Regional Draw with Anchor Tenancy and 94,000 SF Rural King Shadow Anchor
- Average Lease Term Remaining is 9.5 Years
- Thriving Area Surrounded by Retail, Manufacturing and Distribution
Executive Summary
For sale to qualified investors is a two-tenant building in Chillicothe, Ohio, adjacent to a 94,000-square-foot Rural King retail store. The offering includes Adena Health System in 49,366 square feet of space with 9 years of guaranteed lease term remaining, and Ashley HomeStore, whose 10 year lease term commences in the fall of 2023. Both tenants along with Rural King (shadow anchor) draw customers from a regional population of approximately 77,000 people. Adena, Ashley HomeStore, and Rural King all selected Chillicothe due to its regional draw throughout Ross County as the county seat and center of commerce for the area. The property is surrounded by other national retailers and restaurants including Walmart, Lowe’s, Kohl’s, Sam’s Club, Menard’s, Kroger, Hobby Lobby, Dick’s Sporting Goods, TJ Maxx, ALDI, Starbucks, Chipotle, Panera, Five Guys, Olive Garden, McDonald’s, Taco Bell, Arby’s, and many more
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
172,046 SF
Building Class
B
Year Built
1994
Price
£4,624,557
Price Per SF
£27
Net Initial Yield
8.50%
NOI
£393,087
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.15
Lot Size
25.60 AC
Opportunity Zone
Yes
Zoning
C
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 30-54-61-045.000 | Improvements Assessment | £515,629 |
| Land Assessment | £1,214,295 | Total Assessment | £1,729,924 |
PROPERTY TAXES
Parcel Number
30-54-61-045.000
Land Assessment
£1,214,295
Improvements Assessment
£515,629
Total Assessment
£1,729,924
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1470 N Bridge St
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