Building Details

Building Size 15,120 SF

Listing Agency: NAI Ohio Equities

Listed By: Chad Boggs · License #OH #2023003870 Show Phone

Source: Ohioequities

Added: Aug 25 Changed: Oct 1 Last Checked: Oct 12 at 5:27PM

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Investment Insights

Based on property information with market context.

The property is a 15,120-square-foot, single-story freestanding commercial building on 2.0 acres. Built in 1972, it includes an existing drive-thru and 80 on-site parking spaces. The layout has been identified for retail, medical, pharmacy, fitness, and other commercial applications.

Located at the junction of Demorest Road and Clime Road in Columbus’s southwest submarket, the site records over 20,000 VPD and provides access to I-70, I-270, and U.S. Route 40. C3 zoning supports the property’s commercial positioning.

Key Highlights

• 15,120 SF single‑story freestanding building
• 2.0‑acre commercial site with C3 zoning
• Existing drive‑thru facility

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$202,487

Cap Rate

7.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,049,740 $4.0M

Cap Rate 7%

$2,892,671 $2.9M

Cap Rate 9%

$2,249,856 $2.2M

Market Conditions

NOI Build-Up for 15,120 SF

Gross rent

$290.3K $19.20/SF

− Vacancy

−$20.3K −$1.34/SF

EGI

$270.0K $17.86/SF

− OpEx

−$67.5K −$4.46/SF

NOI

$202.5K $13.39/SF

Area

Columbus, OH

Vacancy

7.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,049,740

Cap Rate 7%

$2,892,671

Cap Rate 9%

$2,249,856

Alternative Uses

Best Use

Specialty Retail

$2.89M

$2.53M – $3.37M (±1% cap)

NOI $202,487 @ 7.0% cap · market cap 7.36%

Second Best

Retail

$2.49M

$2.18M – $2.91M (±1% cap)

NOI $174,318 @ 7.0% cap · market cap 6.34%

Theoretical Best

Office A

$3.15M

$2.76M – $3.68M (±1% cap)

NOI $220,576 @ 7.0% cap · market cap 8.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Redbox Cinema Walgreens Pharmacy Pharmacy LibertyX Bitcoin ATM Atm FedEx OnSite Postal Service Western Union Bank

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Hair Salon Spa & Massage Center Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

192

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 43204, OH

42,315

Population

19,286

Households

2.2

Avg Household Size

35

Median Age

25%

College-Educated

84%

High-School Grad

9.4 sq mi

ZIP Area

4,502

Density / Sq Mi

$59,158

Median Household Income

$38,610

Median Earnings

$1,206

Median Rent

$170,900

Median Home Value

Market

Vacancy Rate% for Retail in Columbus, OH

5.4% 2019

5.2% 2020

4% 2021

3.8% 2022

3.5% 2023

3.8% 2024

4.1% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this drug stores located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• CVS Pharmacy — 3499 Clime Rd, Columbus, OH 43223
• Chelsey Spiller — 3499 Clime Rd, Columbus, OH 432233440
• Walgreens Pharmacy — 1280 Demorest Rd, Columbus, OH 43204
• Amanda Shaw — 1280 Demorest Rd, Columbus, OH 432047003
• John Sohn — 1280 Demorest Rd, Columbus, OH 432047003

Frequently Asked Questions

What type of property is this?

Drug store - Single-story commercial building with an existing drive-thru, substantial parking, and C3 zoning.

Where is this drug store located?

The property is located at 1280 Demorest Rd Columbus, OH.

What is the asking price?

The asking price for this property is $2,750,000.

What are key features of this property?

This property features: 15,120 SF single‑story freestanding building; 2.0‑acre commercial site with C3 zoning; Existing drive‑thru facility