For Sale
$3,700,000

5445 High StColumbus, OH 43214

Columbus CVS, 11,285 SF, 5.30% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional redevelopment opportunity presents a 11,285 square foot former CVS Pharmacy building located at 5445 N High St, Columbus, Ohio 43214, in Franklin County. The property, built in 1997, is currently vacant ("dark") but benefits from a long-term leaseback agreement with CVS Pharmacy, extending until November 30, 2038. This lease provides a stable income stream with a current Net Operating Income (NOI) of $196,000 and a 5.30% capitalization rate, based on an asking price of $3,700,000. The single-story building offers significant potential for redevelopment into a variety of commercial uses, capitalizing on its prime location in a growing area of Columbus. The property's size and strategic location make it an attractive investment for those seeking both immediate return and long-term growth potential. This is a rare chance to acquire a well-situated property with a secure income stream and substantial upside for future development. The property is offered for sale with a leaseback agreement in place.

Highlights

  • 11,285 SF former CVS Pharmacy building in Columbus, OH.
  • Vacant, but with a leaseback to CVS through November 2038.
  • $3,700,000 asking price, $196,000 NOI, 5.30% cap rate.
  • Prime location with redevelopment potential.

Property Details for 5445 High St

Property type
Retail properties, Drug stores
Square Feet
11,285 SF
Year Built
1997
Buildings
1
Stories
1

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
40.0733984
Longitude
-83.0197112
5445 High St, Columbus, Ohio

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5445 High St
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