1980 National Rd Columbus, IN 47201-4505

Property Details for 1980 National Rd

Year built

1957

Construction

WOOD

Lot size

0.46 lot acres

Property size

1,518 SF

Property type

Medical offices

Property subtype

Medical centers

APN

03-96-17-340-000.800-005

APU

39617340000800005

Description

This exceptional investment opportunity presents a brand-new, Class A, 5,300 square foot shopping center in Columbus, Indiana. Located at 1980 N National Rd, this 100% occupied property boasts three tenants: Sleep Number, Cricket Wireless, and Stanton Optical, all under long-term leases. The center features a desirable NNN lease structure with a corporate guarantee, providing strong financial stability. Leases commenced January 18, 2024, and extend for a total of 10 years, with a remaining term of 9.2 years. Rent increases are built in, with 3% annual bumps and a 10% increase every five years, offering excellent inflation protection. The property sits on a 0.46-acre lot and benefits from high visibility and traffic counts (47,261 vehicles per day). The strong tenant mix, including a nationally recognized brand like Sleep Number, contributes to a robust net operating income (NOI) of $246,650, resulting in a compelling 6.55% cap rate. The asking price is $3,765,500, translating to a price per square foot of $710.47. This fee-simple ownership opportunity is ideal for 1031 exchange investors or those seeking passive income. The property's location within a thriving retail corridor, near a Target-anchored shopping center, further enhances its investment appeal. Columbus, Indiana, itself offers a strong economic environment, ranking highly in various national economic indicators. This property represents a secure and profitable investment in a prime retail location.

Location Insight

City

Columbus

County

Bartholomew

State

Indiana

Longitude

-85.8867

Latitude

39.2187

CBSA code

18020

CBSA name

COLUMBUS, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments