Current Use by Public Records
- Retail properties & Spaces
Property Details for 1235 Columbus Ave
- Year built
- 2023
- Lot size
- 0.80 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a fee-simple interest in a brand-new, 2,443 square-foot Chipotle Mexican Grill located at 1235 Columbus Ave, Lebanon, OH 45036. Built in 2023, this single-tenant property boasts a 14.1-year remaining lease term with a corporate guarantee, offering significant passive income potential. The lease includes 10% rent bumps every five years and four, five-year renewal options, ensuring long-term stability. The property sits on a 0.8-acre lot in a high-traffic area with 11,390 vehicles passing daily on Columbus Avenue, which intersects with US-42 (21,950 VPD). The strong location is further enhanced by its proximity to a high-performing Kroger, attracting 1.5 million annual visitors, and a top-performing strip center. The average household income within a five-mile radius is $119,000, reflecting a robust consumer base. The property's Net Operating Income (NOI) is $140,430, resulting in a 5.50% cap rate and a price per square foot of $1,045.03. This investment offers a compelling combination of strong tenant, long-term lease, and prime location within the Cincinnati MSA, making it an attractive addition to any portfolio. The asking price is $2,553,000. The property benefits from a 100% occupancy rate and significant population growth (8.2% in the past 10 years) within a five-mile radius. This is a rare opportunity to acquire a high-performing, corporately-guaranteed, net-leased asset with exceptional long-term prospects.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Lebanon
- County
- Warren
- State
- Ohio
- Longitude
- -84.1815
- Latitude
- 39.4531
