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28853452
30864141

612 Harrisburg Pike, Columbus, OH 43223

CO
CA 01985082
Matthews
Listed by Matthews
$4,241,000
132 days on market
Updated 87 days ago
Opportunity zone

Harrisburg Point Center

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 78,460
Units 13
Cap Rate 10.00%
NOI $424,222
Occupancy 86%
Tenancy Multi
Price per SqFt $54
Year Built 1966
Year Renovated 1999
Acreage 4.940

Stabilized Tenancy with Streamlined Management

Investment highlights

● Established Income Stream with Remaining Upside: Harrisburg Point Shopping Center is currently 86% occupied with a diverse mix of service, retail, and restaurant tenants, providing in-place cash flow with meaningful upside through leasing the remaining vacancy. The available space offers new ownership the opportunity to increase NOI through targeted tenant placement and potential rent growth. The current lease structures require minimal landlord involvement, allowing for streamlined day-to-day management once fully stabilized.

● Below-Market Rents with Value-Add Potential in Opportunity Zone: The property offers a compelling upside potential with a low average rent per square foot, enhancing tenant retention and long-term income growth. Its location within a federally designated Opportunity Zone presents potential tax advantages for qualified investors.

● Prime Location in High-Traffic Retail Corridor: Strategically positioned near the signalized intersection of Harrisburg Pike and Mound Street—experiencing over 52,000 vehicles per day—the property benefits from strong visibility and accessibility. Located just three miles from downtown Columbus, it sits within one of the area’s major retail corridors.

● Attractive Basis with Double-Digit Yield: Offered at a 10% capitalization rate and priced at $54.05 per square foot, the asset presents a rare opportunity to acquire stabilized income at a basis below estimated replacement cost, delivering immediate yield with long-term value appreciation potential.

Listing Contacts

CO
CA 01985082
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$424,222.00
$35,351.83/mo

Valuation Metrics

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DSCR
10%
Cap Rate
10%
ROI

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Additional Information

Name
Matthew Wallace
License
REC.2022007141 (OH)
Brokerage
Matthews Real Estate Investment Services, Inc
Title
Broker of Record
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