1280 Main StNewark, OH 43055

Property Details for 1280 Main St

Year built

1983

Lot size

2.50 AC

Property size (Sq ft)

8,750 SF

Property type

Retail properties

Property subtype

Retail space

APN

055-282744-03.000

APU

5528274403000

Description

This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store located at 1280 E Main St, Newark, OH 43055, within the Columbus MSA. The property boasts a substantial 8,540 square foot building constructed in 2013 and situated on a 2.5-acre lot. Benefiting from a prime location at the hard corner of East Main Street and Dayton Road, this asset offers significant upside potential. The current lease agreement is a Net Lease with approximately 5 years remaining, including two 5-year renewal options, ensuring long-term stability. The property's strong demographics and low rent per square foot, combined with the tenant's excellent creditworthiness, make this a compelling investment at well below replacement cost. The asking price is $1,475,000, representing an attractive 8.50% capitalization rate. This property is part of a larger portfolio of Dollar Stores available for purchase individually or as a whole.

• CAP approach

  CAP return

  Valuation

  6%

  $2,446,153

  6.5%

  $2,257,988

  7%

  $2,096,703

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,062,557

  Geo Method

  $2,062,557

• Alternative Use

  Use

  Valuation

  Residential

  $1,904,697

  Hospitality

  $1,744,692

  Educational

  $1,451,564

  Medical

  $1,501,485

  Retail

  $2,257,988

Location Insight

City

Newark

County

Licking

State

Ohio

Latitude

40.0628

Longitude

-82.3546

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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