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Tim Hortons 3120 E Main St 1,340 SF Retail Building Columbus, OH 43209 $1,575,538 ($1,175.77/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term, 15-Year Absolute NNN Lease
- Strong QSR Chain with +/- 5,000 Locations Internationally
- Primary Retail Corridor - Walmart Supercenter, Ross Dress for Less, Citi Trends, Shoppers World, Jiffy Lube, O'Reilly Auto Parts, ALDI, Wendy's
- Attractive Rental Increases - 10% every 5 years during the lease term and each of the option periods
- Successful Tim Hortons Franchisee Guarantees Lease - 135-unit operator and the largest U.S. Tim Hortons franchisee
- Great Demographics - Average household incomes over $98,564 within a 1-mile radius and a population of over 282,700 within 5 miles
EXECUTIVE SUMMARY
Northmarq is pleased to offer to qualified investors the opportunity to acquire the fee simple interest in a Tim Hortons located in Columbus, Ohio. The Subject Property consists of approximately 0.38 acres with an approximate 1,780 SF building. The lease commenced in February 2019 and has approximately 10 years remaining. It is Absolute NNN with a fifteen (15) year term and three (3), five (5) year renewal options with 10% increases every 5 years. The Subject Property is located on East Main street in Columbus with a traffic count of approximately 28,966 VPD. It is in a dense retail and heavily populated residential area with approximately 282,741 residents within a 5-mile radius and an average household income of over $98,5604 within 1 mile of the Property. Retail in the area includes Wendy's, O'Reilly Auto Parts, Pizza Hut, and Jiffy Lube, among others.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,340 SF
Building Class
B
Year Built
2018
Price
$1,575,538
Price Per SF
$1,175.77
Cap Rate
6.50%
NOI
$102,410
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.38 AC
Zoning
UCT - Mixed-Use, Urban Center
Parking
15 Spaces
Frontage
52’ on E Main
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 010-092060 | Improvements Assessment | $113,650 |
| Land Assessment | $257,250 | Total Assessment | $370,900 |
PROPERTY TAXES
Parcel Number
010-092060
Land Assessment
$257,250
Improvements Assessment
$113,650
Total Assessment
$370,900
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Tim Hortons | 3120 E Main St
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