459 Agler RdGahanna, OH 43230

Property Details for 459 Agler Rd

Year built

1967

Lot size

2.08 AC

Property size (Sq ft)

23,000 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

025-007165

APU

25007165

Description

This exceptional investment opportunity presents a fee-simple interest in a 21,636-square-foot retail building situated on 2.077 acres in Gahanna, Ohio. The property is 100% occupied by two investment-grade tenants, Family Dollar and AutoZone, under long-term net leases with minimal landlord responsibilities. The leases commenced January 1, 2014, and currently have approximately 3.4 years remaining, with five 5-year renewal options at a 10% rent increase per option. The property boasts a strong 8.00% cap rate and a Net Operating Income (NOI) of $177,176, based on an asking price of $2,214,704. Built in 1967, this multi-tenant property benefits from its prime location on Agler Road in Gahanna, offering excellent visibility and proximity to major transportation routes, including U.S. Route 62 and John Glenn Columbus International Airport. The property is situated within a thriving retail corridor and enjoys strong demographics, with a population of 65,834 within a three-mile radius and an average household income of $92,124 within one mile. The property's parcel number is 025-007165. This offering provides a compelling combination of strong tenants, a favorable lease structure, and a desirable location within a robust market. The price per square foot is $102.36.

• CAP approach

  CAP return

  Valuation

  6%

  $6,646,514

  6.5%

  $6,135,243

  7%

  $5,697,012

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,421,578

  Geo Method

  $5,421,578

• Alternative Use

  Use

  Valuation

  Residential

  $5,175,307

  Hospitality

  $4,740,554

  Educational

  $3,944,085

  Medical

  $4,079,728

  Retail

  $6,135,243

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

40.019

Longitude

-82.8938

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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