Property profile

471 Morrison Rd Gahanna, OH 43230

OFF-MARKET
Community centers
Property ID
US66-2309465
16,077 SF 1.64 ac lot Built 1989
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This prime 1,200 sq ft retail space, part of a larger 16,077 sq ft Class B building (built in 1989) in Franklin County, offers excellent visibility and high traffic counts. Located off Hamilton Rd and Morrison Rd in Gahanna, OH, this property boasts over 20,300 vehicles per day (VPD) on Morrison Rd and over 33,000 VPD on Hamilton Rd. Its strategic location near I-270 ensures easy access and high exposure. The area features strong demographics, with over 238,738 people within a five-mile radius and high average household incomes. This multiple-tenancy building provides a desirable co-tenancy situation with established businesses such as Jordan's Pub and Deli, Shiny Nails, and Littleroot Games, alongside other local and national retailers including Firestone Auto Care, Bob Evans, Kroger Marketplace, and many more. The property's proximity to Gahanna Lincoln High School and a Holiday Inn Express further enhances its appeal. A total of 1,200 square feet is currently available for lease within this well-established retail center. The building is situated in a thriving retail corridor, offering a unique opportunity for businesses seeking high visibility and a strong customer base. This space is ideal for a variety of retail uses and presents a compelling investment opportunity in a high-demand location.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1989
Total area 16,077 SF
Lot 1.64 ac (71,569 SF)
APN 025-008884
UPID US66-2309465

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Employment Agency
  • Hair Salon Nail Salon
  • Nail Salon
  • Restaurant
  • Pharmacy

Location

471 Morrison Rd Gahanna, OH 43230-3365
Gahanna metro Census 7427 COLUMBUS, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.29M
Blend (final) Blend
$490k

Owner & transaction history

since 2019
7 recorded transactions
2019
Price N/A
2019
Price N/A
2017
Price N/A
2003
$1.2M
1998
Price N/A
1998
Price N/A
1998
$1.1M

Zoning & alternative use

Top alternative use upside
Medical building $2.2M +24.9%
Office building $2.2M +24.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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