853 30th St Heath, OH 43056-1207

Property Details for 853 30th St

Lot size

0.98 lot acres

Property type

Commercial land

APN

030-088608-00.001

APU

3008860800001

Description

This exceptional investment opportunity presents a brand-new, 2,962 square foot Bojangles restaurant in Heath, Ohio. Located in a dense retail corridor near major retailers like Walmart, Lowe's, and Best Buy, as well as the Indian Mound Mall, this property benefits from high traffic counts and strong visibility. The property sits on a 0.93-acre lot and features a new 16-year absolute NNN lease with a prominent franchisee operating over 125 units across six states. The lease commenced November 1, 2023, and includes three 5-year renewal options, ensuring long-term stability. The current lease boasts a 5.75% cap rate and a substantial net operating income (NOI) of $177,672. Built in 2023, the property benefits from scheduled rental increases throughout the initial term and at the beginning of each option period, providing a hedge against inflation. This is a rare opportunity to acquire a high-performing asset in a prime retail location with a strong, established tenant and significant growth potential within the Columbus market. The franchisee has a 15-store development agreement with Bojangles, further solidifying the long-term outlook for this investment. The asking price is $3,089,948.

Location Insight

City

Heath

County

Licking

State

Ohio

Longitude

-82.4439

Latitude

40.0294

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments