January 23, 2025 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of a Kroger in Dayton, Ohio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,330,000.
Kroger is located at 1555 Wayne Avenue in Dayton, Ohio. The stand-alone building consists of 22,973 square feet on a 3.2-acre parcel in the heart of Dayton. Kroger has occupied this location since its construction in 1959 and recently extended their lease for 5 years, demonstrating their commitment to the site and the market. Kroger has 5+ years remaining on their lease. Kroger’s lease calls for attractive 2.0% annual rent increases providing a steady increase in income and an attractive hedge against inflation. The building features a new roof (2024 installation) with a 20-year transferable warranty. Kroger is well located along Wayne Avenue in Dayton and is just 1-mile from the University of Dayton, the second largest private university in Ohio with a total enrollment of approximately 12,000 students. The property is located along the municipal bus line and is the closest grocery store/supermarket to the campus. Kroger has been extremely successful at this location and has outstanding sales. Kroger has consistently paid a percentage rent over the years and had sales of $15,856,095 ($551.55 per square foot) for the year ending on June 30, 2023, which resulted in a percentage rent of $20,360. Kroger pays 1% of the gross sales in excess of $2,880,000 up to sales in the amount of $4,916,000 which equates to $20,360, and an additional 1% of all sales in excess of $16,884,408.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.