10894 New Haven RdHarrison, OH 45030

For Sale
$2,939,000

High-Yield Net Lease, Cincinnati MSA

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a fee-simple interest in a Class A, 2,225 square-foot Starbucks located in Harrison, Ohio (Cincinnati MSA). Built in 2022, this single-tenant property boasts a strong 10-year net lease (NN+) with a credit-rated tenant, commencing September 21, 2022, and expiring February 28, 2033. The lease includes four 5-year renewal options, ensuring long-term stability. The property features a drive-thru capable of handling over 20 vehicles, 59 parking spaces, and is situated on a 1.35-acre lot. The strategic location directly off I-74 and New Haven Road provides exceptional visibility and accessibility, benefiting from high daily vehicle counts. The lease includes a 10% rent increase every five years, protecting against inflation and enhancing returns. The property's strong NOI of $155,764 and a 5.30% cap rate make it an attractive investment. The surrounding area shows significant growth, with a 7% annual population increase over the past three years and an average household income exceeding $85,000. Numerous national retailers are nearby, further solidifying the location's strength. This is a low-management, passive investment opportunity with significant upside potential. The property's asking price is $2,939,000, with a price per square foot of $1,320.90.

Highlights

  • 9+ years remaining on a strong net lease with a credit-rated tenant.
  • No early termination clause; 10% rent increases every five years throughout the base term and option periods.
  • High-visibility location directly off I-74 (40,000+ VPD) and New Haven Road (20,000+ VPD); drive-thru accommodates 20+ vehicles.
  • 1.35-acre site with 59-space parking lot.
  • Limited competition: The only freestanding Starbucks in Harrison, Ohio; nearest competitors are 8 and 30 miles away. Dense commercial corridor with over 1.5M SF of retail, 3M SF of industrial, and 1,200+ multifamily units within a 5-mile radius, including national retailers such as Kroger, Home Depot, and Walgreens.
  • Harrison, Ohio (Cincinnati MSA) boasts 7% annual population growth over the past three years and average household incomes exceeding $85,000.

Property Details for 10894 New Haven Rd

Property type
Other retail properties, Restaurants
Square Feet
2,225 SF
Class
A
Year Built
2022
Buildings
1
Lot Size (sq. ft)
58,806 SF

Location Insight

City
Harrison
County
Hamilton
State
Ohio
Latitude
39.260218445161
Longitude
-84.799061199912
10894 New Haven Rd, Harrison, Ohio

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10894 New Haven Rd
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