2385 Silver DrColumbus, OH 43211

Property Details for 2385 Silver Dr

Year built

2002

Construction

WOOD

Lot size

1.21 AC

Property size (Sq ft)

6,672 SF

Property type

Retail properties

Property subtype

Gas stations

APN

010-263998

APU

10263998

Description

This exceptional investment opportunity presents a 6,672 square foot auto shop/storefront in Columbus, Ohio, currently leased to National Tire & Battery (NTB), now owned by Mavis Discount Tire, one of the largest independent automotive service businesses in the US. The property, built in 2002 and situated on a one-acre lot, features seven service bays. The current lease, a triple-net (NNN) agreement with a corporate guarantee from TBC Corporation, boasts a remaining term of approximately 3.3 years, followed by three five-year renewal options. The lease commenced February 28, 2003, and expires February 28, 2028. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $132,213, resulting in a 7.00% cap rate. The asking price is $1,888,757.14, translating to $283.09 per square foot. This prime Columbus location benefits from excellent demographics and proximity to numerous national retailers. The lease includes rent bumps, demonstrating the tenant's commitment to the property's long-term success. This is a rare opportunity to acquire a stable, high-performing investment with a strong tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,959,877

  6.5%

  $1,809,117

  7%

  $1,679,894

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,572,729

  Geo Method

  $1,572,729

• Alternative Use

  Use

  Valuation

  Residential

  $1,526,058

  Hospitality

  $1,397,861

  Educational

  $1,163,004

  Medical

  $1,203,001

  Retail

  $1,809,117

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

40.0127

Longitude

-82.9942

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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