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The Shops at Eastgate Marketplace

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Location / Contact

810 Eastgate North Drive
Cincinnati, OH

For more information, contact:
Stephanie May Beaumier
CASTO
614.744.3404

General Info

Status AVAILABLE
Property Type Community and Grocery Centers
Price $2,584,000
Cap Rate 6.50%
Current NOI $167,956
Building Size 6,600 sq. ft.
Land Area 1.590 acres

Key Demographics

3-Mile
Radius
5-Mile
Radius
Population 48,911 101,437
Daytime Population 37,309 77,027
Median Age 37 Yrs. 39 Yrs.
Households 20,120 40,822
Avg. Household Income $79,563 $90,436
# of Businesses 1,810 3,926
# of Employees 25,101 49,733

Description

New Construction
This recently constructed 6,600 SF multi-tenant building features leases with Sleep Number and Sprint, both of which have rent increases within the orignal  lease term and with each option period. 

Scheduled Revenue Growth
New investors will benefit from the 18.6% growth in revenue over a 10-year hold period due to contractual rental rate increases that are included in all three tenants' leases. 

Dominant Retail Corridor
The Eastgate retail corridor is located in Clermont County’s Union Township, one of the fastest growing townships in Ohio. The area boasts strong demographics, including a median household income that is 20% above state and national averages.

Located across the street from Eastgate Mall, featuring such anchors as Dillard’s, JCPenney, Kohl’s and Sears, along with more than 90 specialty stores including Aeropostale, American Eagle Outfitters, Bath & Body Works, Charlotte Ruse, Christopher & Banks, Hollister Co., H&M, Hot Topic, Journeys, Justice, Motherhood Maternity, rue21, The Children’s Place and Victoria’s Secret. 

The dynamic Eastgate retail corridor also includes the 135-acre Eastgate Crossing, which includes anchors such as Ashley Furniture, Jo-Ann Fabric & Crafts, Kroger and Marshall’s, a new Men’s Wearhouse, plus Toys 'R Us, O'Charley’s, Fairfield Inn & Suites, Holiday Inn, Wendy’s, KeyBank and PNC Bank on peripheral parcels.

Strong Market Profile
Cincinnati is home to many major corporations, including Procter & Gamble, The Kroger Company, GE Aviation, Sunny Delight Beverages Co., Convergys and Fifth Third Bank. The Eastgate trade area includes 10 Fortune 500 companies and 18 Fortune 1000 companies.

Housing Growth
The area has experienced phenomenal housing growth adding more than 40 new home communities, with home prices ranging from $220,000 to $1,000,000, in the past five years. Homes in the high profile Ivy Trails development start at $800,000. Strong growth to the south and west of Eastgate makes it the primary shopping destination for these new residents. 

Traffic Counts  
I-275 - 73,000 ADT
SR-32 - 51,531 ADT