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DOM: 74 Updated: 05.17.25 Posted: 05.17.25 Status: Active     05.20.25

Summary

Price $3,008,000
Built/Renov 1998
Tenant OfficeMax
Cap Rate 8.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 23,484
Lease Start 03-10-1998
#Units 869
Price/SF $128.09
Expiration 08-31-2028
Tenant Type General Retail
NOI $240,711
R. Term 3.1
Ownership Fee Simple
Rent/SF $10.25
Increases 4.7%/1/yrs
Pop 5Mi 53,753
Lot/AC 3.24
Options 1/5yrs/11.63%
AHHI 5Mi $93,898

Highlights

  • OfficeMax has been operating in this location since 1998
  • Tenant has 3+ years remaining on the current lease term with 1 (5-year) option to extend
  • Lease features 4.65% rental increase September 2026, 11.6% at the start of the remaining option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

OfficeMax is strategically located along River Valley Circle N with access to 24,000 vehicles per day at a high-traffic, signalized hard corner near the intersection of River Valley Circle N and River Valley Boulevard. This location is an outparcel to River Valley Mall, a regional shopping center featuring over 562,000 square feet of retail space with anchors such as Macy’s, AMC Theaters,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

OfficeMax is an American office supplies retailer. The company also provides services such as document printing, pack and ship, shredding and storage. As an independent chain, it was the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,658 40,392 53,305
2023 Total Population : 8,368 39,281 52,034
2023 Employed Civilian Pop : 3,927 17,715 23,439
2023 Total Businesses : 357 1,513 1,887
2023 Average Household Income : $ 70,136 $ 73,022 $ 79,861
2023 Total Consumer Spending : $ 232 M $ 1045 M $ 1500 M
2023 Median Age : 44 40 42
2023 Total Households : 3,777 16,318 21,483
2023 Pop Age 25+: Bachelor's Degree : 767 3,751 5,574
2023 Average Home Value : $ 230,664 $ 232,440 $ 258,307
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Memorial Dr River Valley Dr 2012 24,641 0.11 mi
Schorrway Dr NW Hillcrest Dr 2008 3,659 0.12 mi
Schorr Way Dr Venture Pl 2008 4,801 0.18 mi
Hillcrest Dr Schorrway Dr NW 2008 2,198 0.18 mi
N Memorial Dr Pierce Ave 2018 27,143 0.27 mi
N MEMORIAL DR River Valley Dr 2021 10,534 0.27 mi
N Columbus St Hillcrest Dr 2019 11,337 0.32 mi
Pierce Avenue N Pierce Ave 2021 6,815 0.51 mi
North Columbus Street Nelson 2021 11,250 0.58 mi
- Brannon Dr 2021 10,962 0.61 mi

Listing Broker

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