Retail Property in Columbus,
3445 South High Street Columbus, OH 43207
3445 South High Street, Columbus, OH, 43207
$3,800,000
For Sale
$3,800,000
Single-tenant retail property operating as a Walgreens for sale.
Property Size14,560 SF
Price / SF$260.99
Days on Market115
Property Features for 3445 South High Street
General Information
- Standard status
- Active
- Size
- 14,560 SF
- Property subtype
- Retail
Listing Agency
CBRE - Des Moines
(515) 865-2985
Listed by
Tyler Dingel · License #S56502000
(515) 865-2985
Source
Cbre
Added: Mar 25 Checked: Jul 17 at 4:05 am
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 CBRE - Des Moines
Investment Insights
Based on property information with market context.
This single-tenant retail property, currently operating as a Walgreens, is available for sale in Columbus, Ohio. The property has been successfully tenanted by Walgreens, the second-largest pharmacy store chain in the U.S., for over 20 years. The property size is 14560 square feet. The offering features zero landlord responsibilities.
Key Highlights
- Zero landlord responsibilities
- Walgreens is the 2nd largest pharmacy store chain in the U.S.
- Tenant has been successfully at this location for over 20 years
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $318.0k | $21.84 |
| − Vacancy | −$76.3k | −$5.24 |
| EGI | $241.7k | $16.60 |
| − OpEx | −$60.4k | −$4.15 |
| NOI | $181.3k | $12.45 |
14,560 SF · lease $21.84/SF/yr · vacancy 24.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.59M
$2.27M – $3.02M
NOI $181,255 @ 7.0% cap · market cap 4.77%
Second Best
Retail
$2.42M
$2.11M – $2.82M
NOI $169,171 @ 7.0% cap · market cap 4.45%
Theoretical Best
Warehouse
$2.93M
$2.57M – $3.42M
NOI $205,422 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens
Pharmacy
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Helen J. Johnson, ...
Pharmacy
COVID-19 Drive-Thru Testing ...
Medical Laboratory
Similar For Sale Nearby
Similar Off Market Nearby
- Kroger Pharmacy — 3637 S High St, Columbus, OH 43207
- Solutions Care Pharmacy — 3891-3893 Great Southern Ct, Columbus, OH 43207
- Smoothie King — 3769 S High St, Columbus, OH 43207
- Michael Stewart — 3579 S High St, Columbus, OH 432074008
- Ashley Neidig — 3579 S High St, Columbus, OH 432074008
FAQs
What type of property is this?
Drug store - Single-tenant retail property operating as a Walgreens for sale.
Where is this drug store located?
The property is located at 3445 South High Street Columbus, OH.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Zero landlord responsibilities; Walgreens is the 2nd largest pharmacy store chain in the U.S.; Tenant has been successfully at this location for over 20 years
