Listed by Passov Real Estate Group
Unpriced
Shops on Third Avenue
Details
APN 010-027755
Property Type Retail
Sub Type Restaurant, Shopping Center
Square Footage 18,686
Units 7
Occupancy 100%
Tenancy Multi
Brand/Tenant Starbucks, Chipotle
Lease Type NNN
Class A
Year Built 2023
Stories 1
Acreage 3.150
Parking Spaces 131 spaces
Parking Per SqFt 7.01
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Ground Lease No
Raising Cane’s | Chipotle | Starbucks | Strip Center (10.5k sf)
Investment highlights
3x Corporate STNL Assets
- Raising Cane’s Ground Lease – NNN, 12 Years Remaining
- Chipotle – NNN, 7 Years Remaining
- Starbucks – NNN, 7 Years Remaining
- 8.89 Years (WALT)
Strip Center (10.5k sf)
- 100% Occupied on NNN Leases
- 27% Mark-to-Market Rent Upside (~$100k NOI)
- 4.81 Years (WALT)
Legacy Asset-Level Fundamentals & Irreplaceable Infill Location
- Hard Corner Signalized Intersection of Olentangy River Rd & Third Ave (34,200 VPD)
- Direct Frontage to 90,000 VPD (SR-315)
- Adjacent to Top Performing Giant Eagle in Ohio (1.2M Annual Visitors)
- 4,527 Apartment Units and 7,500 Household Residences w/in 0.25 Miles
- 0.75 Miles from Ohio State University’s Main Campus (70k Students)
Dominant Submarket Metrics
- 0% Class A STNL Vacancy
- 0% Class A Shop Space Vacancy
- 4.5% Average Annual Rent Growth
- 96.2% Lease Renewal Rate (Trailing 24 Months)
Columbus, OH MSA
- Fastest Growing MSA in the Midwest
- #6 Largest MSA in the Midwest
- Top 10% GDP Growth in the U.S.
- #3 Hyperscale Data Center Market in the U.S.
Listing Contacts
Listed by Passov Real Estate Group
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