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225 Columbia Mall Dr - Ollie's 26,000 SF Retail Condo Unit Offered at $3,385,887 CAD in Bloomsburg, PA 17815
INVESTMENT HIGHLIGHTS
- Corporate guaranty from Ollie’s with $4.86B market cap
- Ollie’s space will have new roof , HVAC’s, and parking lot
- 46,000 cars per day
- Replaceable rents at $9 PSF with .35 PSF rent increases in options
- Mall in process of complete transformation into open air lifestyle center
- Priced at only $85.95 PSF and well below replacement cost of $200+ PSF
EXECUTIVE SUMMARY
UPDATE: Amazon just purchased a data center in Berwick less than 15 miles from the interchange for $650,000,000. We were recently contacted to discuss leased parking for their team to shuttle onsite and potential multifamily housing development at the mall. Capital Commercial Partners is pleased to bring to the market this Ollie’s located at the Columbia Mall in Bloomsburg, PA. The investment offers an above market return with corporate guaranty from Ollie’s (NASDAQ: OLLI) with a $5.79B market cap. The tenant executed a new 8-year lease with a rent commencement of December 2024. Ollie’s has been incredibly busy since they opened demonstrating an accurate sales forecasting model of strong store sales. The mall is in the process of undergoing a complete transformation to open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place. This is a unique opportunity for an investor to acquire a great location, excellent return, corporate guaranty, tremendous upside with the mall redevelopment, and at only $98.33 per square foot; substantially below replacement cost of more than $200 PSF. The condo has been completely renovated with new roof, HVAC’s, plumbing, electrical, and parking lot.
PROPERTY FACTS
| Total Building Size | 26,000 SF | Typical Floor Size | 26,000 SF |
| Property Type | Retail (Condo) | Year Built | 1988 |
| Property Subtype | Department Store | Tenancy | Single |
| Building Class | B | Lot Size | 8.85 AC |
| Floors | 1 |
| Total Building Size | 26,000 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Department Store |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 26,000 SF |
| Year Built | 1988 |
| Tenancy | Single |
| Lot Size | 8.85 AC |
1 UNIT AVAILABLE
Unit 6
| Unit Size | 26,000 SF | Sale Type | Investment |
| Price | $3,385,887 CAD | Cap Rate | 7.50% |
| Price Per SF | $130.23 CAD | NOI | $253,941.48 CAD |
| Condo Use | Retail |
| Unit Size | 26,000 SF |
| Price | $3,385,887 CAD |
| Price Per SF | $130.23 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| NOI | $253,941.48 CAD |
NEARBY MAJOR RETAILERS
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225 Columbia Mall Dr - Ollie's
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