5445 High StColumbus, OH 43214

Property Details for 5445 High St

Year built

1997

Lot size

2.26 AC

Property size (Sq ft)

11,285 SF

Property type

Retail properties

Property subtype

Drug stores

APN

010-126687

APU

10126687

Description

This exceptional redevelopment opportunity presents a 11,285 square foot former CVS Pharmacy building located at 5445 N High St, Columbus, Ohio 43214, in Franklin County. The property, built in 1997, is currently vacant ("dark") but benefits from a long-term leaseback agreement with CVS Pharmacy, extending until November 30, 2038. This lease provides a stable income stream with a current Net Operating Income (NOI) of $196,000 and a 5.30% capitalization rate, based on an asking price of $3,700,000. The single-story building offers significant potential for redevelopment into a variety of commercial uses, capitalizing on its prime location in a growing area of Columbus. The property's size and strategic location make it an attractive investment for those seeking both immediate return and long-term growth potential. This is a rare chance to acquire a well-situated property with a secure income stream and substantial upside for future development. The property is offered for sale with a leaseback agreement in place.

• CAP approach

  CAP return

  Valuation

  6%

  $2,255,276

  6.5%

  $2,081,793

  7%

  $1,933,094

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,660,109

  Geo Method

  $2,660,109

• Alternative Use

  Use

  Valuation

  Residential

  $1,756,070

  Hospitality

  $1,608,551

  Educational

  $1,338,296

  Medical

  $1,384,322

  Retail

  $2,081,793

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

40.0734

Longitude

-83.0196

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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