8787 Owenfield DrPowell, OH 43065

Property Details for 8787 Owenfield Dr

Year built

2002

Lot size

0.84 AC

Property size (Sq ft)

2,459 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

318-324-11-004-000

APU

31832411004000

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN leased Del Taco restaurant in Powell, Ohio. The 2,459 square foot building, featuring a drive-thru, sits on a 0.84-acre lot and enjoys a prime location as a Home Depot outparcel, benefiting from high traffic counts exceeding 49,700 vehicles per day. The property is surrounded by a strong retail mix including Walmart, BJ's Wholesale Club, and Meijer, further enhancing its visibility and accessibility. The 20-year lease, commencing October 17, 2024, and expiring October 31, 2044, includes three 5-year option periods and features 10% rent increases every five years, providing predictable and growing cash flow. The tenant, Del Taco, a subsidiary of Jack in the Box (NASDAQ: JACK), is the second-largest Mexican quick-service restaurant chain nationally, ensuring strong operational stability. The property's location within the Columbus MSA, a suburb voted #6 "Best Cities for Gen Z," benefits from significant business growth and a large consumer base. The 2024 prototype remodel incorporates a drive-thru, further optimizing operational efficiency. With a Net Operating Income (NOI) of $168,000 and a 5.35% cap rate, this Del Taco investment offers a compelling return on investment with minimal landlord responsibilities. The property's strategic location within the Polaris Center of Commerce, near a major super-regional mall and a large JPMorgan Chase campus, adds to its long-term value and growth potential. This is a rare opportunity to acquire a high-performing, passively managed asset with significant upside.

• CAP approach

  CAP return

  Valuation

  6%

  $754,141

  6.5%

  $696,130

  7%

  $646,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $579,637

  Geo Method

  $579,637

• Alternative Use

  Use

  Valuation

  Residential

  $587,212

  Hospitality

  $537,883

  Educational

  $447,512

  Medical

  $462,903

  Retail

  $696,130

Location Insight

City

Powell

County

Delaware

State

Ohio

Latitude

40.1636

Longitude

-83.0203

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].