For Sale
$1,650,000

2110 Hilliard Rome Rd Hilliard, OH 43026

Net-leased Advance Auto Parts, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a 6,751-square-foot Advance Auto Parts store located at 2110 Hilliard Rome Road, Hilliard, Ohio 43026, within the Columbus MSA. The property sits on a 0.97-acre lot and boasts 34 parking spaces. Built in 2007, this single-tenant net lease property offers a substantial 10.1 years remaining on the lease, expiring December 31, 2034, with three 5-year renewal options. The current annual net operating income (NOI) is $105,000, representing a 6.35% capitalization rate on the asking price of $1,650,000. Rent increases are structured with a $2.00 per square foot increase in the first option and a $1.00 per square foot increase in subsequent options. The property benefits from excellent visibility and accessibility along Hilliard Rome Road (56,666 vehicles per day), just one mile north of the I-70 on-ramp (104,510 vehicles per day). Situated in a prime retail and commercial corridor, the location enjoys strong demographics, including a population of 76,284 and an average household income of $119,306 within a 3-mile radius. Within a 3-mile radius, there's 4.4 million square feet of retail, 1.4 million square feet of office space, 28.9 million square feet of industrial space, and 11,439 multifamily units. The property's location provides a substantial built-in customer base with nearly 6,800 households within one mile. This is a rare opportunity to acquire a well-performing, net-leased asset with a strong tenant and significant long-term growth potential.

Highlights

  • Extended Net Lease with Renewal Options: Advance Auto Parts' net lease extends through 2034, offering ±10.3 years remaining and three 5-year renewal options with rent increases.
  • Long-Term Tenant History: Advance Auto Parts has occupied the property since 2007.
  • High Visibility & Accessibility: Excellent visibility and access on Hilliard Rome Road (56,666 VPD), near I-70 (104,510 VPD), 8 miles northwest of downtown Columbus.
  • Strong Commercial Corridor Location: Situated in Hilliard's primary retail and commercial corridor with significant surrounding retail, office, industrial, and residential development.
  • Affluent Demographics & High Household Density: Serves a dense, affluent population with high average household income within a 3-mile radius.

Property Details for 2110 Hilliard Rome Rd

Property type
Retail properties, Auto shops
Square Feet
6,751 SF
Year Built
2007
Lot Size (sq. ft)
42,253 SF

Location Insight

City
Hilliard
County
Franklin
State
Ohio
Latitude
39.9931389
Longitude
-83.1515728

FAQs

What type of property is this?
Retail property - Net-leased Advance Auto Parts, strong ROI.
Where is the retail property located?
The property is located at 2110 Hilliard Rome Rd Hilliard, OH.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Extended Net Lease with Renewal Options: Advance Auto Parts' net lease extends through 2034, offering ±10.3 years remaining and three 5-year renewal options with rent increases.; Long-Term Tenant History: Advance Auto Parts has occupied the property since 2007.; High Visibility & Accessibility: Excellent visibility and access on Hilliard Rome Road (56,666 VPD), near I-70 (104,510 VPD), 8 miles northwest of downtown Columbus.
How can I contact the broker?
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2110 Hilliard Rome Rd
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