2110 Hilliard Rome RdHilliard, OH 43026

Property Details for 2110 Hilliard Rome Rd

Year built

2007

Lot size

0.97 AC

Property size (Sq ft)

6,958 SF

Property type

Retail properties

Property subtype

Retail space

APN

560-282854

APU

560282854

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,071,334

  6.5%

  $1,912,000

  7%

  $1,775,429

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,640,145

  Geo Method

  $1,640,145

• Alternative Use

  Use

  Valuation

  Residential

  $1,612,844

  Hospitality

  $1,477,356

  Educational

  $1,229,143

  Medical

  $1,271,415

  Retail

  $1,912,000

Location Insight

City

Hilliard

County

Franklin

State

Ohio

Latitude

39.9932

Longitude

-83.1517

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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