2110 Hilliard Rome Rd Hilliard, OH 43026-3513
- Retail space
- 6,958 SF
- 0.97 lot acres
Current Use by Public Records
- UPS Access Point location / Mailing Service / Shipping Service
- Advance Auto Parts / Auto Parts Store / Car Accessories Store
Property Details for 2110 Hilliard Rome Rd
- Year built
- 2007
- Lot size
- 0.97 lot acres
- Property size
- 6,958 SF
- Property type
- Retail space
- APN
- 560-282854
- APU
- 560282854
Description
This exceptional investment opportunity presents a 6,751-square-foot Advance Auto Parts store located at 2110 Hilliard Rome Road, Hilliard, Ohio 43026, within the Columbus MSA. The property sits on a 0.97-acre lot and boasts 34 parking spaces. Built in 2007, this single-tenant net lease property offers a substantial 10.1 years remaining on the lease, expiring December 31, 2034, with three 5-year renewal options. The current annual net operating income (NOI) is $105,000, representing a 6.35% capitalization rate on the asking price of $1,650,000. Rent increases are structured with a $2.00 per square foot increase in the first option and a $1.00 per square foot increase in subsequent options. The property benefits from excellent visibility and accessibility along Hilliard Rome Road (56,666 vehicles per day), just one mile north of the I-70 on-ramp (104,510 vehicles per day). Situated in a prime retail and commercial corridor, the location enjoys strong demographics, including a population of 76,284 and an average household income of $119,306 within a 3-mile radius. Within a 3-mile radius, there's 4.4 million square feet of retail, 1.4 million square feet of office space, 28.9 million square feet of industrial space, and 11,439 multifamily units. The property's location provides a substantial built-in customer base with nearly 6,800 households within one mile. This is a rare opportunity to acquire a well-performing, net-leased asset with a strong tenant and significant long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,565,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,610,000
- 6.5%
- $1,665,000
- 7%
- $1,475,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,615,000
- Geo Method
- $1,440,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,830,000
- Retail
- $1,565,000
- Mixed-Use
- $1,730,000
- Hospitality
- $1,755,000
- Educational
- $1,885,000
- Residential Income
- $1,770,000
- Energy
- $1,570,000
- Income-Based Land
- $1,550,000
- Food Service
- $1,760,000
Location Insight
- Map
- Local Demand
- City
- Hilliard
- County
- Franklin
- State
- Ohio
- Longitude
- -83.1517
- Latitude
- 39.9932
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
