4170 Broad StColumbus, OH 43228

Property Details for 4170 Broad St

Year built

1978

Lot size

0.75 AC

Property size (Sq ft)

9,686 SF

Property type

Retail space

APN

140-005510

APU

140005510

Description

Exceptional investment opportunity: a thriving, turnkey flea market in Columbus, Ohio. This 50,000 square foot retail property, situated on six acres of land, boasts 100% occupancy and a strong historical performance, generating a net operating income (NOI) of $499,320 and an 8.30% cap rate. The property includes 616 rentable spaces, concessions, and "flealess" sales areas. The Westland Flea Market has a proven track record of success spanning over 30 years, with a significant waiting list of prospective tenants. Recent renovations (2023) encompass bathrooms, flooring, carpeting, plumbing, roof repairs, and new boilers, ensuring the property is well-maintained and ready for continued success. The property is zoned for commercial use and enjoys a prime location in a high-traffic area, conveniently situated off highway 270. The sale includes all equipment, inventory, and real estate. The property's parcel numbers are 140-005510 and 140-007169-00. A two-year lease term is available for multi-tenant occupancy. This is a rare opportunity to acquire a highly profitable, established business with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,720,789

  6.5%

  $2,511,497

  7%

  $2,332,104

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,283,192

  Geo Method

  $2,283,192

• Alternative Use

  Use

  Valuation

  Residential

  $2,118,542

  Hospitality

  $1,940,573

  Educational

  $1,614,534

  Medical

  $1,670,060

  Retail

  $2,511,497

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.9537

Longitude

-83.1125

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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