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    1211 Morse Rd Columbus, OH 43229

    Sponsored
    For Sale
    $2,834,000

    High-yield, NNN-leased CVS property

    Property size:
    10,812 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This Columbus, Ohio, retail property offers a compelling investment opportunity featuring a fee-simple ownership of a 10,812 square foot, single-story building on a 1.06-acre lot. The property is currently leased to CVS Pharmacy under an absolute NNN lease with approximately 13.7 years remaining until the lease expiration date of July 31, 2038. The lease commenced on December 20, 2001, and includes ten 5-year renewal options. The property boasts a strong 6.00% cap rate and a net operating income (NOI) of $170,000, resulting in an asking price of $2,834,000, or approximately $269 per square foot. The building was renovated in 2001 and is situated at 1211 Morse Rd, Columbus, OH 43229, within a high-traffic commercial area of Franklin County. This investment presents a passive income opportunity with minimal landlord responsibilities, backed by a nationally recognized tenant with a long-term lease. The property's location and lease terms provide investors with a stable, predictable cash flow stream. This is a prime opportunity for investors seeking a low-management, high-return investment.

    Property Features for 1211 Morse Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,812 SF
    Lot Size
    46,174 SF

    Building Details

    Year Renovated
    2001
    Buildings
    1
    Stories
    1

    HighLights

    • Absolute NNN lease, requiring no landlord management.
    • 14‑year lease with CVS Pharmacy, a creditworthy national tenant.
    • High‑traffic location with excellent visibility and accessibility.
    • No rent abatement.
    • Priced at $2,834,000, representing $269 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Photo Passport Photo Processor CVS Pharmacy Pharmacy Redbox Movie Rental Kiosk CVS Cosmetics Store MoneyGram Money Transfer Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.986640420998
    Latitude
    40.06078628863

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, NNN-leased CVS property
    Where is this individual retail property located?
    The property is located at 1211 Morse Rd Columbus, OH.
    What is the asking price?
    The asking price for this property is $2,834,000.
    What are key features of this property?
    This property features: Absolute NNN lease, requiring no landlord management.; 14-year lease with CVS Pharmacy, a creditworthy national tenant.; High-traffic location with excellent visibility and accessibility.
    Request Owner's contact information
    1211 Morse Rd Columbus, OH 43229
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    Columbus, OH 43229
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1211 Morse Rd Columbus, OH 43229
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