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3552 E Main St 7,800 SF 100% Leased Retail Building Whitehall, OH 43213 $2,889,230 ($370.41/SF) 6.50% Cap Rate
Investment Highlights
- 2% Annual Increases, providing steady NOI growth.
- No Landlord Responsibilities, Tenant pays all taxes, insurance, utilities, and maintenance, and maintains liability and full replacement-cost property
- Hard, Signalized Corner with Pylon Signage, offering exceptional visibility and traffic exposure.
- Long-term Absolute NNN lease with over 29+ years remaining on initial lease term.
- Laundromax together with its affiliates are the largest operator of laundromats by volume in the US, with 85+ locations across multiple states.
- Excellent Access and Site Functionality, with ingress/egress from both bordering streets and additional rear parking area.
Executive Summary
Bellagio Real Estate Partners, LLC, in conjunction with 360 Real Estate Advisors, is pleased to present Laundromax, located at 3552 East Main Street in Columbus,
Ohio. The freestanding retail asset is leased to Laundromax under a long-term lease with over 29+ years remaining on its initial lease term and 2% annual rent increases,
providing predictable cash flow and strong long-term tenant commitment. Laundromax makes a substantial capital commitment to each location, investing
approximately $2 million on average in buildout costs. This Laundromax is operating under a single purpose entity; however, Laundromax together with its affiliates are
the largest operator of laundromats by volume in the US. The building consists of 7,800 square feet situated on 0.932 acres and is positioned along East Main Street, a
primary retail corridor serving East Columbus. The site benefits from strong visibility, convenient access, and a newly constructed apartment complex located directly
west of the property, which further enhances the immediate customer base, supports sustained foot traffic, and drives long-term demand for laundromat services.
Ohio. The freestanding retail asset is leased to Laundromax under a long-term lease with over 29+ years remaining on its initial lease term and 2% annual rent increases,
providing predictable cash flow and strong long-term tenant commitment. Laundromax makes a substantial capital commitment to each location, investing
approximately $2 million on average in buildout costs. This Laundromax is operating under a single purpose entity; however, Laundromax together with its affiliates are
the largest operator of laundromats by volume in the US. The building consists of 7,800 square feet situated on 0.932 acres and is positioned along East Main Street, a
primary retail corridor serving East Columbus. The site benefits from strong visibility, convenient access, and a newly constructed apartment complex located directly
west of the property, which further enhances the immediate customer base, supports sustained foot traffic, and drives long-term demand for laundromat services.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,800 SF
Building Class
C
Year Built
1967
Price
$2,889,230
Price Per SF
$370.41
Cap Rate
6.50%
NOI
$187,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
0.94 AC
Zoning
GCD, Whitehall - General Commercial District
Parking
31 Spaces (4 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 090-000585 | Improvements Assessment | $128,210 |
| Land Assessment | $78,200 | Total Assessment | $206,410 |
Property Taxes
Parcel Number
090-000585
Land Assessment
$78,200
Improvements Assessment
$128,210
Total Assessment
$206,410
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3552 E Main St
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