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Leased Retail Center Confidential Address 10,000 SF 100% Leased Retail Building Columbus, OH 43212 $2,195,000 ($219.50/SF) 7.10% Cap Rate
INVESTMENT HIGHLIGHTS
- 6.3% cap going in increasing to potentially a 12% cap rate over time due to below market rents
- Shopping center underwent a complete remodel in 2024
- Parking lot resurfaced with new asphalt and fresh striping
- Property located in the densely populated Grandview Heights offering long-term stability with high-quality renovations and strong tenant commitment
- Exterior and Interior Upgrades
- Both buildings received new EPDM roofing systems with a 20-year warranty, along with a fresh coat of exterior paint
EXECUTIVE SUMMARY
Fully Leased 9,525 SF Retail Center Situated in the Heart of Grandview Heights (Hottest Community in Columbus, Ohio) upside from below market rents and priced 20% below market average sales price. Opportunity to self manage for increased return. Tenants paid for their own improvements and building has a new roof and parking lot, and tenants recently renewed. This infill site is almost irreplaceable and the asking price is significantly below replacement cost. Grandview is one of Columbus’ most popular gentrified communities and is highly desired with many walkable restaurants, shopping and other amenities. Properties like this do not come up for sale very often.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,000 SF
Building Class
C
Year Built
1955
Price
$2,195,000
Price Per SF
$219.50
Cap Rate
7.10%
NOI
$155,843
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.96
Lot Size
0.24 AC
Zoning
C3, Columbus - General Commercial
Parking
14 Spaces (1.87 Spaces per 1,000 SF Leased)
Frontage
144’ on W 1st Ave
AMENITIES
- Bus Line
- Property Manager on Site
- Pylon Sign
- Signalized Intersection
Walk Score®
Very Walkable (82)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $252,220 | |
| Land Assessment | $144,970 | Total Assessment | $397,190 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$144,970
Improvements Assessment
$252,220
Total Assessment
$397,190
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Leased Retail Center | Confidential Address
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