471 Morrison RdGahanna, OH 43230

Property Details for 471 Morrison Rd

Year built

1989

Lot size

1.64 AC

Property size (Sq ft)

16,077 SF

Property type

Retail properties

Property subtype

Community centers

APN

025-008884

APU

25008884

Description

This prime 1,200 sq ft retail space, part of a larger 16,077 sq ft Class B building (built in 1989) in Franklin County, offers excellent visibility and high traffic counts. Located off Hamilton Rd and Morrison Rd in Gahanna, OH, this property boasts over 20,300 vehicles per day (VPD) on Morrison Rd and over 33,000 VPD on Hamilton Rd. Its strategic location near I-270 ensures easy access and high exposure. The area features strong demographics, with over 238,738 people within a five-mile radius and high average household incomes. This multiple-tenancy building provides a desirable co-tenancy situation with established businesses such as Jordan's Pub and Deli, Shiny Nails, and Littleroot Games, alongside other local and national retailers including Firestone Auto Care, Bob Evans, Kroger Marketplace, and many more. The property's proximity to Gahanna Lincoln High School and a Holiday Inn Express further enhances its appeal. A total of 1,200 square feet is currently available for lease within this well-established retail center. The building is situated in a thriving retail corridor, offering a unique opportunity for businesses seeking high visibility and a strong customer base. This space is ideal for a variety of retail uses and presents a compelling investment opportunity in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $4,429,874

  6.5%

  $4,089,114

  7%

  $3,797,035

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,789,683

  Geo Method

  $3,789,683

• Alternative Use

  Use

  Valuation

  Residential

  $3,449,321

  Hospitality

  $3,159,560

  Educational

  $2,628,716

  Medical

  $2,719,122

  Retail

  $4,089,114

Location Insight

City

Gahanna

County

Franklin

State

Ohio

Latitude

40.0081

Longitude

-82.8654

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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