6523 E Main St
Reynoldsburg, OH 43068
Top Credit Union in OH|15Yr Lease w/10% Bumps · Retail Property For Sale

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the brand-new, single-tenant Absolute NNN Ground Lease to Wright-Patt Credit Union location in the desirable community of Reynoldsburg, a suburb of Columbus, Ohio. The property is being offered for $2,500,000, representing a 5.00% CAP Rate and is in construction by Wright-Patt Credit Union, who hand-picked this particular location for its robust expansion in Central Ohio. Wright-Patt is the leading credit union in Ohio and is ranked in the Top 50 in the Country. The bank locations are in Southwest and Central Ohio with customer access to over 40,000 ATMs and 5,300 shared branching locations. Wright Patt’s ground lease is expected to commence 4/16/2020 with a 15-year term and multiple 10% rental increases throughout the term. The lease also offers 10% rental increases in each option period with Wright-Patt handling all on-site maintenance and operating expenses directly, leaving ownership with NO management responsibilities. Wright-Patt built the building from the ground up, so they are responsible for every expense incurred and designed the property to ideally match their specific needs. The asset is positioned along one of Reynoldsburg’s most heavily traveled roadways due to its convenient highway access of I-270, which is the beltway loop freeway in the Columbus Metropolitan Area that provides access to John Glenn Columbus International Airport (7.5 miles). Traffic counts along E. Main Street are near 40,000 VPD, while I-270 has 128,000 VPD along its route. Furthermore, the featured property lies just north if I-70, which is the direct route to Downtown Columbus and The Ohio State University. The main roadway’s constant flurry of traffic is a result of the complimentary retailers positioned in the corridor, along with the area’s growth. The $20 million, 103,000 S.F. Kroger Marketplace just opened across the street from Wright-Patt and rumors of a new Chipotle entering the market are swirling. The retail corridor includes other retailers, including: Advance Parts, Texas Roadhouse, Outback Steakhouse, Burlington/Baby Depot, VCF, Verizon, At Home, Rally’s, Dollar Tree, Harbor Freight Tools, Walgreens, Taco Bell, McDonald’s and many more.