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 properties

Property subtype

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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