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Views: 150 DOM: 168 Updated: 10.18.24 Posted: 06.06.24 Status: Active 06.06.24

Summary

Price $2,442,685
Built/Renov 1959
Tenant Kroger
Cap Rate 7.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 28,748
Lease Start 06-11-1957
#Units 2,719
Price/SF $84.97
Expiration 06-30-2029
Tenant Type Grocery
NOI $170,988
R. Term 4.7
Ownership Fee Simple
Rent/SF $5.95
Increases 18.3%/1/yrs
Pop 5Mi 214,700
Lot/AC 3.20
Options 0/0yrs
AHHI 5Mi $75,574

Lease Highlights

  • Kroger has been operating in this location for over 60 years
  • Tenant recently extended their lease an additional 5 years with an 18.3% rent increase in July 2024
  • The lease features 2% annual rent increases 
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease (NYSE: KR)
  • Investment grade tenant (S&P: BBB)

Location Description

Kroger is strategically located along Wayne Avenue, with access to 20,000 vehicles passing by daily. The property boasts excellent visibility and accessibility from both directions of traffic. Situated just 1 mile from the University of Dayton, the second-largest private university in Ohio, the property holds a prominent position as the closest grocery store/supermarket to the campus....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Kroger
  • Guarantor:Corp T and Rated
  • Company:The Kroger Company
  • # Units:2,719
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • Stock: NYSE: KR

About Tenant

The Kroger Company (NYSE: KR), or simply Kroger, is an American retail company that operates (directly or through its subsidiaries) supermarkets and multi-department stores throughout the United...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 20,015 103,736 214,360
2023 Total Population : 20,065 104,506 215,660
2023 Employed Civilian Pop : 8,436 47,191 97,175
2023 Total Businesses : 545 4,271 7,579
2023 Average Household Income : $ 60,327 $ 69,453 $ 69,650
2023 Total Consumer Spending : $ 330 M $ 2699 M $ 5646 M
2023 Median Age : 25 37 39
2023 Total Households : 6,213 44,327 92,517
2023 Pop Age 25+: Bachelor's Degree : 1,790 11,095 24,068
2023 Average Home Value : $ 152,324 $ 154,995 $ 158,189
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
WAYNE AVE Glencoe Ave 2020 18,777 0.10 mi
Wyoming St Hawker St 2003 7,500 0.11 mi
Wyoming Street Caleb Pl 2021 6,583 0.13 mi
Lathrop Ave Blommel Ln 2004 81 0.14 mi
Fillmore St Wyoming St 2003 1,142 0.17 mi
Gunckel Ave Glencoe Ave 2003 728 0.17 mi
Wyoming St Steele Ave 2003 7,207 0.21 mi
Wyoming Street Steele Ave 2021 4,689 0.24 mi
Wyoming St Jay St 2003 11,500 0.26 mi
Wayne Ave Oak St 2005 23,862 0.28 mi

Listing Broker

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