9966 Kings Auto Mall RdCincinnati, OH 45249

For Sale

100% Occupied, 11-Tenant Retail Center

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional 67,246 square foot, single-story shopping center boasts a prime location in Cincinnati, Ohio's Mason retail corridor, just off Interstate 71. Built in 1990, the property sits on 7.864 acres and offers 343 parking spaces. Currently 100% occupied by 11 tenants, including a Planet Fitness anchor, the center benefits from a strong weighted average lease term of 4.91 years. The property features a mix of traditional and service-oriented tenants demonstrating robust sales performance, with notable examples including Samarkand Store ($1,131 PSF), Penn Station ($523 PSF), and Lenscrafters ($366 PSF). Samarkand Store, for instance, experienced a 24% year-over-year sales increase. The property's blended occupancy cost is an attractive 5.84%. The center enjoys excellent visibility with two access points along Kings Automall Drive and 528 feet of frontage on Fields Ertel Road. The strong daytime population of 287,163 within the trade area, with a low unemployment rate of 2.2%, further underscores the property's investment potential. The property also offers an attractive assumable debt opportunity with a principal balance of $5.3 million (as of August 1, 2024), a fixed interest rate of 4.04%, a 30-year amortization, and an expiration date of August 2031. The property's proximity to major employers, including Proctor & Gamble and Anthem Blue Cross Blue Shield, and numerous hotels, solidifies its position within a thriving business hub. This presents a compelling opportunity for investors seeking a stabilized, high-performing retail asset in a desirable location.

Highlights

  • Prime location in Mason Retail Corridor, near I-71/73, with 528 feet of frontage on Fields Ertel Rd, and two access points.
  • Strong performing Planet Fitness anchor tenant (since 2015), a top 30% national performer, showing year-over-year growth, with below-market rent offering NOI upside.
  • Robust tenant sales, exceeding $1,100 PSF for top performer, and strong overall occupancy cost of 5.84%.
  • Attractive assumable debt with a $5.3M principal balance, 4.04% interest rate, 30-year amortization, and expiration in August 2031.
  • Strong daytime population of 287,163 within a thriving business hub, including major employers like P&G and Anthem, and low unemployment (2.2%).

Property Details for 9966 Kings Auto Mall Rd

Property type
Lifestyle centers, Power centers
Square Feet
67,246 SF
Year Built
1990
Stories
1
Lot Size (sq. ft)
342,556 SF

Location Insight

City
Cincinnati
County
Warren
State
Ohio
Latitude
39.293212658107
Longitude
-84.307921146322
9966 Kings Auto Mall Rd, Cincinnati, Ohio

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9966 Kings Auto Mall Rd
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