225 Columbia Mall DrBloomsburg, PA 17815

For Sale
$2,458,320

High-return, Net Lease Storefront in PA

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 26,000 square foot Ollie's retail storefront located at 225 Columbia Mall Dr, Bloomsburg, PA 17815. The property boasts a strong 7.50% cap rate and a Net Lease structure with a corporate guarantee from Ollie's (NASDAQ: OLLI), a company with a $5.79B market cap. A new 8-year lease commenced in September 2024, offering significant remaining lease term and providing a stable income stream. The lease includes options for renewal, with rent increases built in. The asking price is $2,458,320, translating to a price per square foot of $94.55 – substantially below replacement cost estimated at over $200 per square foot. The property underwent a complete renovation in 2024, including a new roof, HVAC systems, plumbing, electrical upgrades, and parking lot improvements. The Columbia Mall is undergoing a transformation into an open-air lifestyle center, with a new Geisinger Health Systems hospital campus under development nearby, creating a synergistic environment for increased foot traffic and potential for future growth. This prime location benefits from high daily traffic volume, estimated at 46,000 cars. The 100% occupancy ensures immediate cash flow, making this a compelling investment with significant upside potential.

Highlights

  • Corporate guarantee from Ollie's (NASDAQ: OLLI), a $5.79B market cap company.
  • $9/SF base rent with $0.35/SF rent increases in option periods.
  • Recently renovated with new roof, HVAC, plumbing, electrical, and parking lot.
  • Columbia Mall is converting to an open-air lifestyle center.
  • High traffic count of 46,000 cars per day.
  • Priced at $94.55/SF, significantly below replacement cost of over $200/SF.

Property Details for 225 Columbia Mall Dr

Property type
Other retail properties, Individual retail properties
Square Feet
26,000 SF
Year Renovated
2024

Location Insight

City
Bloomsburg
County
Columbia
State
Pennsylvania
Latitude
41.0180055
Longitude
-76.4859437
225 Columbia Mall Dr, Bloomsburg, Pennsylvania

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225 Columbia Mall Dr
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