800 Delaware Ave Marysville, OH 43040-1724

Property Details for 800 Delaware Ave

Year built

1998

Lot size

2.23 lot acres

Property size

11,397 SF

Property type

Commercial land

APN

29-0004271.0010

APU

2900042710010

Description

This exceptional investment opportunity presents a brand-new, 6,131 square foot Sheetz convenience store and gas station situated on a 2.23-acre lot in Marysville, Ohio. The property boasts a 15-year absolute NNN ground lease, commencing March 13, 2023, and expiring March 31, 2038, with built-in rent bumps of 5% every five years during the initial term and 10% increases every five years in option periods. The property benefits from a corporate guarantee from Sheetz, a major, privately-owned convenience store chain. Located at the hard corner of Delaware Avenue and North Cherry Street, this high-traffic location enjoys a combined 39,835 average annual daily traffic (AADT). The site's strategic position provides easy access to US Route 33 (47,625 AADT), a corridor known for its concentration of manufacturers, research, and logistics companies. The property is surrounded by a robust mix of national and local businesses, including Walmart, Home Depot, Lowe's, Walgreens, and numerous restaurants, creating a strong customer base. The area's demographics are also favorable, with 313,084 residents within a five-mile radius boasting an average annual household income of $112,982. Proximity to major transportation hubs, including Rickenbacker International Airport and John Glenn Columbus International Airport, further enhances the property's value. The asking price is $3,676,000, representing a 5.55% cap rate and a net operating income (NOI) of $204,000. This is a 1031 exchange eligible property.

Location Insight

City

Marysville

County

Union

State

Ohio

Longitude

-83.3561

Latitude

40.2366

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments