5445 N High St Columbus, OH 43214

Property Details for 5445 N High St

Year built

1997

Lot size

2.26 lot acres

Property size

11,285 SF

Property type

Drug stores

APN

010-126687

APU

10126687

Description

This exceptional redevelopment opportunity presents a 11,285 square foot former CVS Pharmacy building located at 5445 N High St, Columbus, Ohio 43214, in Franklin County. The property, built in 1997, is currently vacant ("dark") but benefits from a long-term leaseback agreement with CVS Pharmacy, extending until November 30, 2038. This lease provides a stable income stream with a current Net Operating Income (NOI) of $196,000 and a 5.30% capitalization rate, based on an asking price of $3,700,000. The single-story building offers significant potential for redevelopment into a variety of commercial uses, capitalizing on its prime location in a growing area of Columbus. The property's size and strategic location make it an attractive investment for those seeking both immediate return and long-term growth potential. This is a rare chance to acquire a well-situated property with a secure income stream and substantial upside for future development. The property is offered for sale with a leaseback agreement in place.

Location Insight

City

Columbus

County

Franklin

State

Ohio

Longitude

-83.0196

Latitude

40.0734

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments