1775 Hilliard Rome RdHilliard, OH 43026
- Retail properties
- 4,680 SF
Property Details for 1775 Hilliard Rome Rd
- Year built
- 1993
- Lot size
- 0.68 AC
- Property size (Sq ft)
- 4,680 SF
- Property type
- Retail properties
- Property subtype
- Drive through restaurants
- APN
- 560-224664
- APU
- 560224664
Description
This exceptional investment opportunity presents two single-story buildings totaling 8,359 square feet, situated on a 1.26-acre lot in Hilliard, Ohio. The property is 100% occupied by three nationally recognized tenants: Krispy Kreme, Bibibop Asian Grill, and Charleys Philly Steak, all operating under a triple-net (NNN) lease structure. Built in 2021, the property includes a free-standing Krispy Kreme drive-thru and a multi-tenant building, offering a diverse and resilient tenant mix. The property boasts a strong 6.15% cap rate and a substantial net operating income (NOI) of $329,784. Located at the entrance to Tanglewood Plaza, a high-traffic power center attracting over 4 million visitors annually, this property benefits from exceptional visibility and convenient access to Interstate-70. The property features 55 parking spaces and rent bumps every five years. The zoning is C-Commercial, and the property is offered fee simple. This prime location in the rapidly growing Columbus MSA, with its strong demographics and significant corporate presence, makes this a compelling investment opportunity. The property's two parcels are separately deeded (APN: 560-307278-00, 560-224664-00). Lease details are available in the marketing package.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,387,225
- 6.5%
- $1,280,516
- 7%
- $1,189,050
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,103,173
- Geo Method
- $1,103,173
-
Alternative Use
- Use
- Valuation
- Residential
- $1,080,163
- Hospitality
- $989,423
- Educational
- $823,189
- Medical
- $851,499
- Retail
- $1,280,516
Location Insight
- City
- Hilliard
- County
- Franklin
- State
- Ohio
- Latitude
- 39.9874
- Longitude
- -83.1519
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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