800 Delaware AveMarysville, OH 43040

Property Details for 800 Delaware Ave

Year built

1998

Lot size

2.23 AC

Property size (Sq ft)

11,397 SF

Property type

Land

Property subtype

Commercial land

APN

29-0004271.0010

APU

2900042710010

Description

This exceptional investment opportunity presents a brand-new, 6,131 square foot Sheetz convenience store and gas station situated on a 2.23-acre lot in Marysville, Ohio. The property boasts a 15-year absolute NNN ground lease, commencing March 13, 2023, and expiring March 31, 2038, with built-in rent bumps of 5% every five years during the initial term and 10% increases every five years in option periods. The property benefits from a corporate guarantee from Sheetz, a major, privately-owned convenience store chain. Located at the hard corner of Delaware Avenue and North Cherry Street, this high-traffic location enjoys a combined 39,835 average annual daily traffic (AADT). The site's strategic position provides easy access to US Route 33 (47,625 AADT), a corridor known for its concentration of manufacturers, research, and logistics companies. The property is surrounded by a robust mix of national and local businesses, including Walmart, Home Depot, Lowe's, Walgreens, and numerous restaurants, creating a strong customer base. The area's demographics are also favorable, with 313,084 residents within a five-mile radius boasting an average annual household income of $112,982. Proximity to major transportation hubs, including Rickenbacker International Airport and John Glenn Columbus International Airport, further enhances the property's value. The asking price is $3,676,000, representing a 5.55% cap rate and a net operating income (NOI) of $204,000. This is a 1031 exchange eligible property.

• Alternative Use

  Use

  Valuation

  Residential

  $1,806,609

  Hospitality

  $1,654,844

  Educational

  $1,376,811

  Medical

  $1,424,162

  Retail

  $2,141,706

Location Insight

City

Marysville

County

Union

State

Ohio

Latitude

40.2366

Longitude

-83.3561

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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