8787 Owenfield Dr Powell, OH 43065
- Drive through restaurants
- 2,459 SF
- 0.84 lot acres
Current Use by Public Records
- Drive through restaurants
Property Details for 8787 Owenfield Dr
- Year built
- 2002
- Lot size
- 0.84 lot acres
- Property size
- 2,459 SF
- Property type
- Drive through restaurants
- APN
- 318-324-11-004-000
- APU
- 31832411004000
Description
This exceptional investment opportunity presents a fee-simple, absolute NNN leased Del Taco restaurant in Powell, Ohio. The 2,459 square foot building, featuring a drive-thru, sits on a 0.84-acre lot and enjoys a prime location as a Home Depot outparcel, benefiting from high traffic counts exceeding 49,700 vehicles per day. The property is surrounded by a strong retail mix including Walmart, BJ's Wholesale Club, and Meijer, further enhancing its visibility and accessibility. The 20-year lease, commencing October 17, 2024, and expiring October 31, 2044, includes three 5-year option periods and features 10% rent increases every five years, providing predictable and growing cash flow. The tenant, Del Taco, a subsidiary of Jack in the Box (NASDAQ: JACK), is the second-largest Mexican quick-service restaurant chain nationally, ensuring strong operational stability. The property's location within the Columbus MSA, a suburb voted #6 "Best Cities for Gen Z," benefits from significant business growth and a large consumer base. The 2024 prototype remodel incorporates a drive-thru, further optimizing operational efficiency. With a Net Operating Income (NOI) of $168,000 and a 5.35% cap rate, this Del Taco investment offers a compelling return on investment with minimal landlord responsibilities. The property's strategic location within the Polaris Center of Commerce, near a major super-regional mall and a large JPMorgan Chase campus, adds to its long-term value and growth potential. This is a rare opportunity to acquire a high-performing, passively managed asset with significant upside.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,525,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,535,000
- 6.5%
- $1,550,000
- 7%
- $1,450,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,445,000
- Geo Method
- $1,645,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,635,000
- Retail
- $1,775,000
- Mixed-Use
- $1,705,000
- Hospitality
- $1,765,000
- Educational
- $1,595,000
- Residential Income
- $1,745,000
- Energy
- $1,720,000
- Income-Based Land
- $1,535,000
- Food Service
- $1,655,000
Location Insight
- Map
- Local Demand
- City
- Powell
- County
- Delaware
- State
- Ohio
- Longitude
- -83.0203
- Latitude
- 40.1636
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
