For Sale
$1,486,000

490 Jefferson Ave Plain City, OH 43064

High-Yield Net Lease Retail Investment

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional investment opportunity presents the Village Shoppes, a 5,940 square foot, 100% occupied, mixed-use property located at 490 Jefferson Ave, Plain City, OH 43064. The property boasts a strong 7.15% cap rate and a compelling $250.17 price per square foot. Built in 2007, this two-unit complex sits on a 0.78-acre lot and features a diverse tenant mix: Smile Works Family Dentistry and The Middlefield Banking Company, both operating under long-term (10-year) triple-net (NNN) leases with corporate guarantees and rent bumps. The Middlefield Banking Company recently exercised an early lease renewal, demonstrating strong commitment to the location. The property benefits from its strategic location within the Columbus MSA, enjoying high visibility along South Jefferson Avenue (12,000 cars daily) and proximity to major interstates, providing easy access to Columbus and other Midwest cities. The surrounding area shows significant growth potential, with projected population and household increases exceeding 8% by 2028 and an average household income exceeding $116,000 within a 5-mile radius. The property is also conveniently located near national retailers such as McDonald's, Ace Hardware, and Dollar General, and adjacent to the Madison Meadows master-planned community (450+ homes at build-out). The parking lot is scheduled for resurfacing in the near future. This is a rare opportunity to acquire a high-performing, net-leased property in a thriving market with significant upside potential. The property's strong tenant base, favorable lease terms, and prime location make it an ideal addition to any investment portfolio. The Net Operating Income (NOI) is $106,282. The asking price is $1,486,000.

Highlights

  • Fully leased to Smile Works Family Dentistry and Middlefield Banking Company (21 Ohio branches).
  • Middlefield Bank recently executed an early lease renewal.
  • NNN leases; parking lot resurfacing scheduled.
  • Strong demographics: 191,747 residents within 10 miles in the Columbus MSA.
  • Projected 8%+ population and household growth by 2028.
  • Average household income over $116,000 within a 5-mile radius.

Property Details for 490 Jefferson Ave

Property type
Retail properties, Office properties
Square Feet
5,940 SF
Year Built
2007
Lot Size (sq. ft)
33,977 SF
Units
2

Location Insight

City
Plain City
County
Madison
State
Ohio
Latitude
40.1032611
Longitude
-83.2793753

FAQs

What type of property is this?
Retail property - High-Yield Net Lease Retail Investment
Where is the retail property located?
The property is located at 490 Jefferson Ave Plain City, OH.
What is the asking price?
The asking price for this property is $1,486,000.
What are key features of this property?
This property features: Fully leased to Smile Works Family Dentistry and Middlefield Banking Company (21 Ohio branches).; Middlefield Bank recently executed an early lease renewal.; NNN leases; parking lot resurfacing scheduled.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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490 Jefferson Ave
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