For Sale
$2,834,000

1211 Morse RdColumbus, OH 43229

High-yield, NNN-leased CVS property

Overview

Added:
Dec 11, 2024
Days on market:
114
This Columbus, Ohio, retail property offers a compelling investment opportunity featuring a fee-simple ownership of a 10,812 square foot, single-story building on a 1.06-acre lot. The property is currently leased to CVS Pharmacy under an absolute NNN lease with approximately 13.7 years remaining until the lease expiration date of July 31, 2038. The lease commenced on December 20, 2001, and includes ten 5-year renewal options. The property boasts a strong 6.00% cap rate and a net operating income (NOI) of $170,000, resulting in an asking price of $2,834,000, or approximately $269 per square foot. The building was renovated in 2001 and is situated at 1211 Morse Rd, Columbus, OH 43229, within a high-traffic commercial area of Franklin County. This investment presents a passive income opportunity with minimal landlord responsibilities, backed by a nationally recognized tenant with a long-term lease. The property's location and lease terms provide investors with a stable, predictable cash flow stream. This is a prime opportunity for investors seeking a low-management, high-return investment.

Highlights

  • Absolute NNN lease, requiring no landlord management.
  • 14-year lease with CVS Pharmacy, a creditworthy national tenant.
  • High-traffic location with excellent visibility and accessibility.
  • No rent abatement.
  • Priced at $2,834,000, representing $269 per square foot.

Property Details for 1211 Morse Rd

Property type
Retail properties, Drug stores
Square Feet
10,812 SF
Year Renovated
2001
Buildings
1
Stories
1
Lot Size (sq. ft)
46,174 SF

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
40.06078628863
Longitude
-82.986640420998
1211 Morse Rd, Columbus, Ohio

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1211 Morse Rd
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