For Sale
$1,250,000

2233 Morse Rd Columbus, OH 43229

High-cap rate auto shop, Columbus, OH

Overview

Added:
Dec 11, 2024
Days on market:
135
This Columbus, Ohio, Class A auto shop presents a prime investment opportunity. The 7,320 square foot, single-tenant property is situated on a 0.694-acre lot and boasts 11 service bays. A sale-leaseback of a national franchise automotive care center, the property features a 9.5-year remaining lease (expiring 06/01/2034) with rent bumps every five years. The building, constructed in 1991, has recently undergone significant improvements, including roof and HVAC replacements. The property offers a strong 8.50% cap rate and a substantial net operating income (NOI) of $106,250. The lease is a NNN (triple net) lease, commencing September 1, 2020. This single-story building represents a low-maintenance, high-return investment with a solid tenant and long-term lease. The asking price is $1,250,000, translating to $170.77 per square foot.

Highlights

  • Exceptional investment opportunity: Sale-leaseback of a national automotive care franchise.
  • Ten-year lease remaining with corporate guarantee.
  • 8.5% capitalization rate.
  • Eleven service bays.
  • Excellent condition; recently updated roof and HVAC.

Property Details for 2233 Morse Rd

Property type
Retail properties, Auto shops
Square Feet
7,320 SF
Class
A
Year Built
1991
Buildings
1
Stories
1
Lot Size (sq. ft)
30,231 SF
Units
1

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
40.05906
Longitude
-82.9595138

FAQs

What type of property is this?
Retail property - High-cap rate auto shop, Columbus, OH
Where is the retail property located?
The property is located at 2233 Morse Rd Columbus, OH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Exceptional investment opportunity: Sale-leaseback of a national automotive care franchise.; Ten-year lease remaining with corporate guarantee.; 8.5% capitalization rate.
How can I contact the broker?
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2233 Morse Rd
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