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32274695
32274696

10701 Blacklick-Eastern Road Northwest, Pickerington, OH 43147 For Sale

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
EP
OH 2004010274, WA SAL.2004010274
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Cleveland
$15,500,000
75 days on market
Updated 67 days ago

Walkers Corner

Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 50,086
Cap Rate 7.20%
NOI $1,111,577
Occupancy 100%
Tenancy Multi
Year Built 2014
Acreage 6.140
Investment Type Stabilized
Ground Lease No

3-Property Retail Offering - New 10 Yr Anchor Lease - Columbus OH

Marketing description

Walker’s Corner, located at 10701 Blacklick Eastern Rd, Pickerington, OH 43147, is a premier 50,086 SF, three-building Class A retail center positioned at the signalized intersection of Route 256 and Tussing Rd/Blacklick Eastern Rd in the high-growth Columbus MSA. Built in 2014 and 100% occupied, the asset offers immediate scale, durable cash flow, and strong long-term upside. The property is anchored by a powerful lineup of national tenants including DSW, Ulta Beauty, Five Below, Starbucks, Aspen Dental, Buff City Soap, and The Joint Chiropractic, with 90% of GLA leased to national retail, restaurant, and medical users. A new 10-year lease with DSW strengthens the rent roll, while NNN lease structures provide strong expense recoveries and an attractive inflation hedge. Walker’s Corner benefits from exceptional visibility and access just south of I-70, with exposure to 67,865+ vehicles per day at the intersection and 100,070 VPD on I-70. Situated within the dominant Route 256 retail corridor, the center is surrounded by major national retailers, dense rooftops, affluent demographics, and continued residential and economic growth driven by the expanding Columbus region.

Investment highlights

• 100% Occupied, Class “A” Retail Development in High Growth Columbus MSA

• New 10 Year Lease with DSW – Backfill to Party City at $4/SF Higher Rent

• 67,865 VPD - Irreplaceable Location at Prominent Intersection of Route 256 and Tussing Rd/Blacklick-Eastern Rd NW with Massive Traffic Counts

• Just 1/4-Mile South of I-70 Exit Ramps – I-70 Sees 100,070 VPD

• Multiple Points of Ingress/Egress and Prominent Monument Signage Providing Ample Visibility and

Accessibility

• Anchored by DSW, ULTA, Five Below who Collectively Comprise 65% of GLA

• Five Below is in the Top 7% Nationally & Best of 70 Stores in Ohio (Source: Placer.ai)

• Nearly All-National Tenant Base – 90% of GLA (8 of 9 Tenants) is Leased to National Retail, Restaurant, and Medical Chains

• Weighted Average Lease Term Remaining of 5.24 Years – 3 of the 5 Largest Tenants Have Approx.

5-10 Years Remaining

• Columbus, Ohio is the Fastest Growing Major MSA in the Midwest – 12.5% Population Growth

(+237,000 New Residents) Since the 2010 Census

• Starbucks Located on Prominent Endcap Unit with Drive-Thru and Outdoor Patio

• Strong Underlying Financial Fundamentals that Mitigate Risk& Create Long-Term Upside Potential-Two Tenants Have Substantially Below Market Rents

• Weight Watchers & The Joint ($12/SF Below-Market)

• All Leases are NNN – 94% Reimbursement of Landlord Operating Expenses Creating True

Inflation Hedge

• Modern/High-Image 2014-Built “Class A” Retail Center – 3 Buildings with Attractive 4-Sided

Masonry & EIFS Facades

• Located in the Middle of Prominent Route 256 Corridor – 3-Mile-Long Retail Corridor Straddling North & South Sides of I-70 Exit Ramps

• Walmart, Sam’s Club, Target, Kohl’s, Giant Eagle, Kroger, Best Buy, Marshalls, etc.

• Affluent, Dense Infill Demographics with 10,400 Residents within 1 Mile and 87,800 Residents within 3 Miles; One-Mile AHHI of $100K

• Columbus MSA – State Capital Home to a Population of Over 2.1 Million with Major Employers Including The Ohio State University, OhioHealth, JPMorgan Chase, Nationwide, Huntington Bank, Honda, L brands, AEP, Battelle, Abbott Nutrition, and More

Listing Contacts

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
EP
OH 2004010274, WA SAL.2004010274
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Cleveland

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$1,111,577.00
$92,631.42/mo

Valuation Metrics

0
DSCR
7.17%
Cap Rate
7.17%
ROI

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