5488 Cleveland Ave Columbus, OH 43231

Listing agency SRS Real Estate Partners Newport Beach p***@srsre.com Show Phone

Listed by Matthew Mousavi · License #CA 01732226

Source Crexi

Added: Apr 11 Updated: Jul 21 at 3:38PM Checked: Jul 21 at 3:38PM

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Investment Insights

Based on property information with market context.

The offering is an absolute NNN leased Steak ’n Shake investment property, sold as a leasehold interest (building ownership). The tenant has approximately 8.5 years remaining on the current term following extensions of two five-year option periods in January 2018. The lease includes a 7% rental increase effective January 2023, and additional 7% rental increases at the beginning of each of the two remaining five-year options, with lease structure continuing through 2084.

The property is located at a signalized, hard corner intersection of Cleveland Ave and Northland Plaza Drive. Vehicle traffic references provided include over 24,600 vehicles passing by daily and proximity of less than half a mile to E. Dublin Granville Road/State Highway 161 with 31,100 VPD. The site features a drive-thru lane and unobstructed street frontage with a pylon sign.

The listing materials also note the asset is across from a Huntington National Bank corporate building and near a COTA Northland Transit Bus Stop. Nearby national tenants identified include Harbor Freight Tools, Family Dollar, and Ollie’s Bargain Outlet.

Key Highlights

• Absolute NNN leased Steak 'n Shake property (leasehold interest/building ownership) in Columbus, OH
• Tenant Steak 'n Shake, Inc. has approximately 8.5 years remaining on the term; lease includes favorable extension through 2084
• Rental increases: 7% in January 2023 and 7% at the beginning of each of the 2 remaining 5‑year option periods

Property Analytics

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FAQs

What type of property is this?

NNN property - Absolute NNN leased Steak 'n Shake property with a drive-thru and hard-corner street frontage at Cleveland Ave.

Where is this nnn property located?

The property is located at 5488 Cleveland Ave Columbus, OH.

What are key features of this property?

This property features: Absolute NNN leased Steak 'n Shake property (leasehold interest/building ownership) in Columbus, OH; Tenant Steak 'n Shake, Inc. has approximately 8.5 years remaining on the term; lease includes favorable extension through 2084; Rental increases: 7% in January 2023 and 7% at the beginning of each of the 2 remaining 5‑year option periods