2233 Morse RdColumbus, OH 43229

For Sale
$1,250,000

High-cap rate auto shop, Columbus, OH

Overview

Added:
Dec 11, 2024
Days on market:
92
This Columbus, Ohio, Class A auto shop presents a prime investment opportunity. The 7,320 square foot, single-tenant property is situated on a 0.694-acre lot and boasts 11 service bays. A sale-leaseback of a national franchise automotive care center, the property features a 9.5-year remaining lease (expiring 06/01/2034) with rent bumps every five years. The building, constructed in 1991, has recently undergone significant improvements, including roof and HVAC replacements. The property offers a strong 8.50% cap rate and a substantial net operating income (NOI) of $106,250. The lease is a NNN (triple net) lease, commencing September 1, 2020. This single-story building represents a low-maintenance, high-return investment with a solid tenant and long-term lease. The asking price is $1,250,000, translating to $170.77 per square foot.

Highlights

  • Exceptional investment opportunity: Sale-leaseback of a national automotive care franchise.
  • Ten-year lease remaining with corporate guarantee.
  • 8.5% capitalization rate.
  • Eleven service bays.
  • Excellent condition; recently updated roof and HVAC.

Property Details for 2233 Morse Rd

Property type
Other retail properties, Automotive properties
Square Feet
7,320 SF
Class
A
Year Built
1991
Buildings
1
Stories
1
Lot Size (sq. ft)
30,231 SF
Units
1

Location Insight

City
Columbus
County
Franklin
State
Ohio
Latitude
40.05906
Longitude
-82.9595138
2233 Morse Rd, Columbus, Ohio

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2233 Morse Rd
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