Listed by Matthews
$6,330,000
Grove City Shopping Center | Grove City, OH | Columbus MSA
Details
Property Type Retail
Sub Type Grocery Store, Pharmacy/Drug
Square Footage 40,848
Cap Rate 7.4%
NOI $468,401
Occupancy 100%
Tenancy Multi
Price per SqFt $155
Year Built 2005
Stories 1
Acreage 4.830
Ground Lease No
Daily Needs Anchored | Recent Lease Extensions | Ideal Location
Investment highlights
- Daily Needs Anchored: Discount Drug Mart anchors the center, providing essential daily needs and driving consistent foot traffic.
- Ideal Tenant Mix: Features a gym, restaurant, and hair salon for synergistic cross-traffic and service-based demand.
- Recent Lease Extensions: All four tenants recently extended leases at rent increases, demonstrating seasoned tenancy.
- Prime Retail Corridor: Located at signalized intersections along Stringtown Rd (±34,027 VPD), less than 1 mile from I-71 (±100,826 VPD).
- Surrounded by Major Retailers: Walmart, Target, Home Depot, Kroger, Giant Eagle, and Aldi are nearby traffic drivers.
- Below Replacement Cost: Offered at $155 PSF, significantly below replacement cost; annual base rent is $11.59 PSF.
- Ease of Management: Only four tenants, all on NNN leases.
- Strong Demographics: 3-mile average household income is $98,000; 5-mile population is 146,000 with steady growth.
- Growth Market: Located in a sought-after growth pocket of the Columbus MSA, the fastest growing major metro in the Midwest.
- Proximity to Major Developments: Less than 20 miles from Intel’s $28B semiconductor campus and significant investments from Amazon, Meta, Microsoft, and Google.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$468,401.00
$39,033.42/mo
Valuation Metrics
0
DSCR
7.4%
Cap Rate
7.4%
ROI
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