1211 Morse Rd, Columbus, OH 43229-6320
- Drug stores
- 10,812 SF
- 1.06 lot acres
Current Use by Public Records
- CVS Photo / (Bike/Boat/Book/etc) Store
- CVS Pharmacy / Pharmacy
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- CVS / Cosmetic Store
- MoneyGram / Bank / Credit Union
Property Details for 1211 Morse Rd
- Year built
- 2001
- Lot size
- 1.06 lot acres
- Property type
- Drug stores
- APN
- 010-015668
- APU
- 10015668
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 10, 2026 | $2,481,800 | Ephrata Motel Partners | 1211 Morse Road LLC | Warranty Deed | $1.4M · Symetra Life Insurance Company |
| Mar 18, 2019 | — | 1211 Morse Road LLC | — | Deed · related | $1.1M · Community Bank |
| Jan 18, 2019 | $3,091,000 | 1211 Morse Road LLC | Buckeye Retail Management LLC | Grant Deed | — |
| Aug 22, 2018 | $2,100,000 | Buckeye Retail Management LLC | Scp 2001a Csf 53 LLC | Limited Warranty Deed | — |
| Jan 25, 2002 | $3,061,700 | Scp 2001a-csf-53 LLC | Hook-superx INC | Grant Deed | $5M · Wells Fargo Bank Northwest NA |
| Jan 8, 2001 | $140,000 | Hook Superx INC | Morse Maize Family LP | Grant Deed | — |
| Dec 31, 1997 | — | Morse-maize Family LP | Margulies,julius C & Roselyn J | Grant Deed · related | — |
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,660,000
- 6.5%
- $1,535,000
- 7%
- $1,425,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $953,000
Market price range: $314k - $953k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,160,000 Current use
- AUTO REPAIR, GARAGE
- $1,715,000 Change: +48% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,565,000 Change: +35% Conversion: Difficult
- MEDICAL BUILDING
- $1,460,000 Change: +26% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,170,000 Change: +1% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,050,000 Change: -10% Conversion: Easy
- OFFICE BUILDING
- $975,000 Change: -16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Franklin
- State
- Ohio
- Longitude
- -82.9867
- Latitude
- 40.0606
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
