23601 Us-23 Circleville, OH 43113

Property Details for 23601 Us-23

Lot size

1.13 lot acres

Property type

Retail properties

Description

This exceptional investment opportunity presents a brand-new, 20-year absolute triple-net (NNN) lease with Huey Magoo's, a rapidly expanding fast-food chain. Located in Circleville, Ohio, at the highly visible, signalized intersection of US-23 and Court Street Connector (over 29,000 vehicles per day), this 2,418 square-foot building sits on a 1.13-acre lot. The lease commenced September 1, 2024, and expires September 30, 2044, with four 5-year option periods and 8% annual rent increases. The property boasts a strong location near major retailers including Walmart Supercenter, Tractor Supply, ALDI, and more, ensuring high traffic and visibility. The asking price is $2,975,000, offering a 5.71% cap rate and a net operating income (NOI) of $169,997. This investment provides passive income with zero landlord responsibilities and benefits from the Huey Magoo's brand's significant growth and popularity. The property features a drive-thru, a key element for QSR success, and is part of the Pickaway Crossing shopping center anchored by ALDI. This is a rare opportunity to acquire a long-term, inflation-resistant investment in a thriving market. The tenant has exclusive territory rights to the Columbus MSA, further enhancing the investment's potential.

Location Insight

City

Circleville

County

Pickaway

State

Ohio

Longitude

-82.9545

Latitude

39.5874