Campus Retail - University of Cincinnati

335 Calhoun Street
Cincinnati, OH 45219

Marketing Materials

Overview

JLL is pleased to offer for sale the fee-simple interest in a two-tenant retail storefront (the “Property”, or “Asset”) located in Cincinnati, OH, tenanted by Jimmy John’s and Trinitas Development.\\n\\nSituated directly across from the University of Cincinnati, the Property is positioned along the primary campus retail corridor and boasts significant intrinsic real estate value. Leased to both Jimmy John’s and Trinitas Development for use as a leasing office, the buyer will benefit from both long term contractual rent with a rare 3% annual growth from Jimmy John’s. Additionally, a value-add opportunity exists to replace Trinitas Development with market rent in the near future. The Asset features a NN+ lease with minimal landlord responsibilities. This is a rare opportunity to acquire a campus retail Asset with strong real estate fundamentals in the midst of one of Cincinnati’s most dynamic trade areas.
  • Primary Broker

    Eric Suffoletto - Net Lease Broker
    Eric Suffoletto
    (617) 316-6479

  • In-State Licensee

    Bill Poffenberger - Net Lease Broker
    Bill Poffenberger
    OH

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Investment Highlights
The two-tenant storefront Asset is leased to an experienced, multi-unit Jimmy John’s franchisee and one of the Midwest’s most prolific student housing developers. Jimmy John’s offers ownership 14 years of contractual term with rare 3% annual rent growth, while Trinitas Development is paying below-market rent and offers a value-add opportunity.
The Asset is located directly across from the University of Cincinnati, home to over 44,000 students. The immediate trade area features significant student housing developments and a roster of national retailers that includes Target, Kroger, Starbucks, Amazon, CVS, Walgreens, and countless popular restaurants and bars.
The property is within feet of the Clifton/Calhoun intersection, with a combined traffic count of 44,650 vehicles per day in a dense infill area. Hughes STEM High School and Regency Hospital are both located at the intersection, providing traffic drivers in addition to the University of Cincinnati.
The offering provides a rare combination of stabilized in-place tenancy, future value-add potential, strong operators, and rare university-anchored real estate. The asset will be delivered free and clear of existing financing.
General
Property Type Retail
Property Address 335 Calhoun Street
Cincinnati, OH 45219
Land In Acres 0.19
Building Size 3,989 Square Feet
Primary Use Fast Food
Tenancy Multi-Tenant
Financial
Price $1,507,200
Price PSF $377.84
Cap Rate 6.50%
Current NOI $97,973
Lease
Tenant Name Multi
Lease Type NN
Annual Rent $97,973
Rent Escalations Varies - See OM
Options Varies - See OM
Remaining Term Confidential