2612 Gilbert AveCincinnati, OH 45206

For Sale
$2,700,000

100% Occupied, 8.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional mixed-use investment property, located at 2612 Gilbert Ave in Cincinnati, Ohio, presents a rare opportunity. The 22,000 square foot building, constructed in 1970 and renovated in 2017, sits on a 1.03-acre lot and boasts a strong 8.5% capitalization rate. Currently 100% occupied by two tenants under a triple-net (NNN) lease structure, the property offers significant stability. The primary tenant, Dohn Community High School, benefits from annual NOI increases of three percent. The secondary tenant, City Limits Laundromat, operates 24/7 and is part of a larger Cincinnati-based chain. Both tenants are backed by corporate guarantees, mitigating risk. The leases, with a remaining term of approximately two years, feature a five-year term and include rent bumps of 16% every five years. The property includes 15 parking spaces and is zoned for commercial use. This stabilized investment offers a compelling return with minimal management overhead. The property features a single, one-story building. Lease commencement was July 1, 2020, with expiration set for August 1, 2030. The asking price is $2,700,000. This is a turnkey investment opportunity in a prime Cincinnati location.

Highlights

  • $2,700,000 asking price for a stabilized mixed-use investment property.
  • 22,000 square feet, 100% occupied, with two corporate-guaranteed tenants.
  • 8.5% cap rate, generating $230,724 in net operating income (NOI).
  • Located in Cincinnati, OH, at 2612 Gilbert Ave, on a 1.03-acre lot with 15 parking spaces.
  • Features a single, one-story, 1970-built building renovated in 2017, with a Commercial zoning permit.
  • NNN leases with 5-year terms, including a 16% rent bump every 5 years, and 2 years remaining on current leases.

Property Details for 2612 Gilbert Ave

Property type
Other retail properties, Other office properties
Square Feet
22,000 SF
Class
B
Year Built/Renovated
1970/2017
Buildings
1
Stories
1
Lot Size (sq. ft)
44,867 SF

Location Insight

City
Cincinnati
County
Hamilton
State
Ohio
Latitude
39.1279024
Longitude
-84.4887099
2612 Gilbert Ave, Cincinnati, Ohio

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2612 Gilbert Ave
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