Single-Tenant Retail
For Sale
$3,995,000
3799 Park Mill Run Dr, Hilliard, OH 43026
New 10,000 SF single-tenant retail building built in 2025 with Interstate 270 exposure and frontage on Park Mill Run.
Property Size10,000 SF
Price / SF$399.50
Days on Market15
Property Features for 3799 Park Mill Run Dr
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Retail - Street Retail
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
10,000 SF
Year Built
2025
Units
1
Tenancy
Single
Listing Agency:
Jackson Real Estate & Development
(614) 764-7991
Listed By:
Randall Jackson · License #2010001909
Source:
Commercialcafe
Added: Jul 26
Changed: Aug 8
Last Checked: Aug 8 at 3:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Jackson Real Estate & Development
Investment Insights
Based on property information with market context.
A modern, single-tenant retail building constructed in 2025, offering a contemporary retail setup and 100% occupancy. The property is secured by a 10-year lease with annual increases and includes 3–5 year options.
The site features direct exposure to Interstate 270 and frontage on Park Mill Run, with access to the surrounding Hilliard-area commercial corridor. Points of interest nearby include Station Park, the Old Hilliard district, the Early Television Museum, and Ten Pin Alley.
Presented as a turnkey investment, the offering combines recent construction with long-term leased occupancy, while maintaining strong roadway visibility along Park Mill Run.
The site features direct exposure to Interstate 270 and frontage on Park Mill Run, with access to the surrounding Hilliard-area commercial corridor. Points of interest nearby include Station Park, the Old Hilliard district, the Early Television Museum, and Ten Pin Alley.
Presented as a turnkey investment, the offering combines recent construction with long-term leased occupancy, while maintaining strong roadway visibility along Park Mill Run.
Key Highlights
- New 10,000 SF single‑tenant retail building built in 2025 at 3799 Park Mill Run Dr, Hilliard, OH
- Direct exposure to Interstate 270 and frontage on Park Mill Run
- 100% occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$133,196
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,663,920
$2.7M
Cap Rate 7%
$1,902,800
$1.9M
Cap Rate 9%
$1,479,956
$1.5M
Market Conditions
NOI Build-Up for 10,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$195.6K $19.56/SF
− Vacancy
−$5.3K −$0.53/SF
EGI
$190.3K $19.03/SF
− OpEx
−$57.1K −$5.71/SF
NOI
$133.2K $13.32/SF
Area
Franklin County, OH
Vacancy
2.72%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,663,920
Cap Rate 7%
$1,902,800
Cap Rate 9%
$1,479,956
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.22M
NOI $133,196 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.04M
$1.78M – $2.38M
NOI $142,710 @ 7.0% cap · market cap 3.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
393k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 31%
Home Improvements & Furnishings 25%
Apparel 4%
Sheetz
Shops & Services
41,074 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
32,985 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
32,615 visits/mo
0.2 miles
7 Brew Coffee
Dining
25,125 visits/mo
0.5 miles
At Home
Home Improvements & Furnishings
20,631 visits/mo
0.3 miles
Demographics for 43026, OH
64,607
Population
25,671
Households
2.5
Avg Household Size
35
Median Age
55%
College-Educated
96%
High-School Grad
35.3 sq mi
ZIP Area
1,830
Density / Sq Mi
$110,369
Median Household Income
$59,770
Median Earnings
$1,430
Median Rent
$324,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - New 10,000 SF single-tenant retail building built in 2025 with Interstate 270 exposure and frontage on Park Mill Run.
Where is this storefront property located?
The property is located at 3799 Park Mill Run Dr Hilliard, OH.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: New 10,000 SF single‑tenant retail building built in 2025 at 3799 Park Mill Run Dr, Hilliard, OH; Direct exposure to Interstate 270 and frontage on Park Mill Run; 100% occupancy
