REIT Sale | Former Tire Choice | 16K VPD | Downtown Springfield

Description:

Ri Marketplace Online Auction August 11-13, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2597/reit-sale-former-tire-choice-16k-vpd-downtown-springfield?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2597

Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire a vacant, free-standing retail building located at 10 W. North Street, Springfield, Ohio 45504 (the “Property”). Formerly occupied by Tire Choice Auto Service Center, the Property is being offered significantly below replacement cost, presenting an exceptional opportunity for both owner/users and investors to acquire a highly visible and strategically located asset in Springfield’s Downtown Core at a substantial discount. FIRST BID MEETS RESERVE!

Built in 1970, the Property consists of a single-story, free-standing retail building totaling ±2,646 square feet on a ±0.6018-acre parcel (±26,215 SF). This former auto service center features four (4) service bays, 34 surface parking spaces, ±148 feet of frontage along W. North Street (±10,195 VPD), and at the signalized intersection of N. Fountain Avenue (±6,172 VPD) with ±173 feet of frontage. It offers excellent accessibility with multiple ingress/egress curb cuts and is positioned just off the intersection of N Spring Street, which carries an additional ±17,616 vehicles per day. Previously operated under a triple-net (NNN) lease by Monro Muffler Brake, the Property provides a compelling value-add opportunity for new ownership through re-lease at current market rates (CoStar estimated retail rents of $12-15/SF NNN). Zoned C-DT-C (Downtown District, Core), the site permits a wide variety of retail, service-based, and commercial uses. This flexibility, combined with its prominent location and below-replacement pricing, positions the Property as an ideal acquisition for investors seeking stabilized income or owner/users looking to secure a well-located retail asset in a growing Ohio market.

The Property is located in Springfield, Ohio, a regional hub between Dayton and Columbus that serves as the county seat of Clark County and a key commercial and cultural center for western Ohio. Strategically positioned in Downtown along W. North Street near its intersection with E. Columbia Street, the site enjoys excellent visibility and accessibility to major corridors including SR-72, US-40, and Interstate 70, which is located less than 10 minutes south. This strategic location provides strong connectivity for both local traffic and regional commuters, supporting consistent demand for retail and service-oriented businesses. Springfield’s downtown district, located just minutes from the Property, has experienced significant public and private reinvestment in recent years, including streetscape improvements, mixed-use redevelopment, and new civic amenities that have helped attract additional consumer traffic and bolster the local economy. Regional demand drivers further reinforce the Property’s location, including Mercy Health’s Springfield Regional Medical Center (254 beds), Springfield Modern Art Museum, Wittenberg University (1,200+ students), and Clark State College (4,750+ total students), all within walking distance. With a population exceeding 82,000 and an average household income above $72,000 within a 5-mile radius, the Property is ideally positioned to serve both commuters traveling through this well-trafficked corridor and local residents—making it a compelling opportunity for a wide range of retail, service-based, and automotive end users.


Thomas Seaman
Auctioneer
License: 2007000016