4403 Executive PkwyWesterville, OH 43081

Property Details for 4403 Executive Pkwy

Year built

1988

Lot size

0.65 AC

Property size (Sq ft)

5,824 SF

Property type

Retail properties

Property subtype

Auto shops

APN

110-005886

APU

110005886

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,789 square foot Goodyear Auto Service Center located at 4403 Executive Pkwy, Westerville, OH 43081. The property sits on a 0.65-acre lot and boasts an absolute NNN lease with a world-renowned tenant, Goodyear, a company with an S&P credit rating of B+. The current lease, commencing September 20, 1988, and expiring September 19, 2033, has approximately 8.8 years remaining, with one 5-year renewal option. The property generates a strong NOI of $96,618, representing a 5.85% cap rate on the asking price of $1,652,000. The lease includes rent bumps, providing for rental growth. This single-tenant building, constructed in 1988, benefits from its location adjacent to a high-traffic Kroger-anchored shopping center and near other major businesses including Kroger corporate offices and Hondros College. Excellent highway access via Interstate 270 and State Route 161 ensures high visibility and accessibility. The property's location on Sunbury Road (27,660 daily traffic count), near State Route 161 (97,457 daily traffic count), and Interstate 270 (155,889 daily traffic count) contributes to its strong performance. The fee-simple ownership allows for the tax benefit of depreciation. This is a passive investment opportunity with a long-term, stable tenant and significant upside potential.

Location Insight

City

Westerville

County

Franklin

State

Ohio

Latitude

40.0829

Longitude

-82.8975

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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