This exceptional investment opportunity presents a 9,000 square foot, fee-simple retail property located at 2015 Schorrway Dr NW, Lancaster, OH 43130. The property, situated on 1.09 acres, is a 100% occupied strip center anchored by a Heartland Dental practice operating under a new 10-year NNN lease with a corporate guarantee. The lease structure includes recapture of taxes, CAM, and insurance expenses, minimizing landlord responsibilities. Heartland Dental, a nationally recognized brand with over 1,700 locations, occupies a significant portion of the center, paying well below market rent compared to average Heartland locations. A second tenant, a long-standing family-owned jewelry boutique, also benefits from a new 10-year lease and corporate guarantee. This prime location boasts high visibility at a hard-corner, signalized intersection on Lancaster's busiest thoroughfare, Schorrway Dr NW, experiencing over 29,142 vehicles daily. The property benefits from strong demographics, with significant population counts within a 5-mile radius. The center is part of the Columbus-MSA, the 32nd largest in the United States. Built in 1994 and renovated in 2022, this property offers a compelling 7.76% cap rate with a net operating income (NOI) of $263,991 and an asking price of $3,400,000. The property's strong tenant base, favorable lease terms, and prime location make it an attractive investment opportunity.
Highlights
$3,400,000 asking price for a 9,000 square foot retail property.
NNN lease structure with corporate guarantee from Heartland Dental.
10-year lease term remaining with a 7.76% cap rate and $263,991 NOI.
Located on 1.09 acres at 2015 Schorrway Dr NW, Lancaster, OH 43130.
Property is 100% occupied by Heartland Dental and another tenant.
Located in a high-traffic area with strong demographics within the Columbus MSA.
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Contacts
Craig Fuller
Zach Turner
Scott Wiles
Erin Patton
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2015 Schorrway Dr, Lancaster, Ohio, 43130
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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2015 Schorrway Dr
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