For Sale
$1,391,151

1391 Main StColumbus, OH 43205

High-Yield Retail Investment, Ohio

Overview

Added:
Dec 11, 2024
Days on market:
114
This Columbus, Ohio retail property offers a compelling investment opportunity. The 9,002 square foot building, constructed in 2012, is situated on a 0.92-acre lot at 1391 E Main St, in the 43205 zip code. Currently 100% occupied by a Dollar General store under an absolute NNN lease with a corporate guarantee, the property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $107,814. The lease, originally commencing November 30, 2012, has a remaining term of 3 years, with three (5) year lease options, each including a 10% rent bump. The property benefits from high traffic counts exceeding 15,500 vehicles daily and is strategically located near Franklin University, Ohio State University, and WGU Ohio, within a densely populated area. This investment provides a secure, low-maintenance income stream with significant upside potential. The property's strong tenant, favorable lease terms, and prime location make it an attractive addition to any portfolio. The 15-year initial lease term expired on November 30, 2027. The property's location offers access to a large consumer base, with over 135,000 people residing within a 3-mile radius.

Highlights

  • $1,391,151 asking price for a 9,002 square foot retail property.
  • Absolute NNN lease with a credit-rated, corporate guarantee from Dollar General.
  • 15-year lease with 3 (5-year) options, 10% rent bumps in each option, and 3 years remaining.
  • 7.75% cap rate with a $107,814 NOI.
  • Located at 1391 E Main St, Columbus, OH, on a 0.92-acre lot, built in 2012.

Property Details for 1391 Main St

Property type
Retail properties, Retail space
Square Feet
9,002 SF
Year Built
2012
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
39.957728429527
Longitude
-82.962153090189
1391 Main St, Columbus, Ohio

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1391 Main St
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