5499 10 Pin AlyHilliard, OH 43026

For Sale
$7,300,000

High-Yield NNN Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 32,827 square foot, Class A, free-standing retail building leased to Bowlero Corp. (NYSE: BOWL), the world's largest bowling operator. Located at 5499 Ten Pin Alley, Hilliard, OH 43026, on a 3.56-acre lot, this property boasts a strong 6.58% cap rate and a substantial net operating income (NOI) of $480,000. The absolute NNN lease features a corporate guarantee and a remaining term of 9.3 years, expiring February 25, 2034, with built-in rent bumps of 10% every five years, starting in 2029. Built in 1961 and renovated in 2017, the property benefits from its location in a densely populated and affluent area, with an average household income exceeding $121,000 within a 3-mile radius and over 151,000 residents within a 5-mile radius. Its prime commercial location offers excellent visibility and accessibility. The property's proximity to The Ohio State University, a major recreation and wellness campus, and Roger A. Reynolds Municipal Park further enhances its appeal. This is a rare opportunity to acquire a high-performing asset with a long-term, secure lease backed by a financially strong, publicly traded tenant in a rapidly growing community. The asking price is $7,300,000.

Highlights

  • Absolute NNN lease with 10% rent increases in 2029 and at each option period. Free-standing, single-tenant building.
  • Ten Pin Alley bowling alley; 20+ year operating history, low rent.
  • High-income area: $121k+ average household income within 3 miles, 151k+ residents within 5 miles.
  • Excellent visibility and accessibility in a prime commercial location.
  • Minutes from Ohio State University (nearly 65k students).
  • Near The Well, a large recreation and wellness campus.

Property Details for 5499 10 Pin Aly

Property type
Other specialty properties, Other retail properties
Square Feet
32,827 SF
Class
A
Year Built/Renovated
1961/2017
Lot Size (sq. ft)
155,074 SF

Location Insight

City
Hilliard
County
Franklin
State
Ohio
Latitude
40.0234822
Longitude
-83.1623672
5499 10 Pin Aly, Hilliard, Ohio

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5499 10 Pin Aly
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