Building Details

Buildings 1

Listing Agency: SURMOUNT

Listed By: Glen Kunofsky · License #NY 49KU1129178 Show Phone

Source: Crexi

Added: Aug 31 Changed: Oct 10 Last Checked: Oct 24 at 3:23PM

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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 SURMOUNT

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Investment Insights

Based on property information with market context.

This automotive service property contains approximately 4,956 rentable square feet at 5891 Westerville Road in Westerville, Ohio. The building operates under a 20-year triple-net lease that commenced September 1, 2026.

The lease includes 1.50% annual increases beginning in Year 7, providing a defined escalation schedule. The Midas-branded use and automotive-service format align with the property’s classification as an auto shop.

Key Highlights

• Approximately 4,956 rentable square feet
• Midas‑branded automotive service property
• 20‑year Triple Net (NNN) lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,012

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,320,240 $1.3M

Cap Rate 7%

$943,029 $943.0K

Cap Rate 9%

$733,467 $733.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,956 SF

Gross rent

$96.9K $19.56/SF

− Vacancy

−$2.6K −$0.53/SF

EGI

$94.3K $19.03/SF

− OpEx

−$28.3K −$5.71/SF

NOI

$66.0K $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 Rate 5%

$1,320,240

Cap Rate 7%

$943,029

Cap Rate 9%

$733,467

Alternative Uses

Best Use

Retail

$943.0K

$825.2K – $1.10M (±1% cap)

NOI $66,012 @ 7.0% cap · market cap 3.16%

Second Best

Industrial

$822.6K

$719.8K – $959.7K (±1% cap)

NOI $57,583 @ 7.0% cap · market cap 2.76%

Theoretical Best

Specialty Retail

$1.01M

$884.1K – $1.18M (±1% cap)

NOI $70,727 @ 7.0% cap · market cap 3.39%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Midas Auto Repair Shop

Suggested Use

Top Pick Restaurant Building Supply Dental Office Law Firm Big Box & Wholesale Store Hair Salon

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

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

456

Businesses Nearby

112k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 67% Groceries 26% Dining 7%

Aldi Groceries

29,537 visits/mo 0.2 miles

Speedway Shops & Services

24,735 visits/mo 0.2 miles

Sheetz Shops & Services

23,485 visits/mo 0.3 miles

Dollar Tree Shops & Services

14,858 visits/mo 0.2 miles

Tim Hortons Dining

4,165 visits/mo 0.2 miles

Demographics for 43081, OH

64,338

Population

28,457

Households

2.3

Avg Household Size

37

Median Age

54%

College-Educated

98%

High-School Grad

25.1 sq mi

ZIP Area

2,563

Density / Sq Mi

$90,336

Median Household Income

$55,015

Median Earnings

$1,434

Median Rent

$297,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Steve's Tires — 5385 Westerville Rd, Westerville, OH 43081
• Bucks Roadside and Mechanics service — 5553 mesa ridge ln, columbus, oh 43231
• Buckeye Auto Services — 5559 Westerville Rd, Westerville, OH 43081
• Mid Ohio Glass Co — 5505 Westerville Rd, Westerville, OH 43081
• Excite Collision Repair Westerville — 5511 Westerville Rd, Westerville, OH 43081

Frequently Asked Questions

What type of property is this?

Auto shop - Automotive service property leased under a long-term NNN structure with scheduled annual increases.

Where is this auto shop located?

The property is located at 5891 Westerville Road Westerville, OH.

What is the asking price?

The asking price for this property is $2,087,360.

What are key features of this property?

This property features: Approximately 4,956 rentable square feet; Midas‑branded automotive service property; 20‑year Triple Net (NNN) lease