Property profile

8870 Columbus Pike Lewis Center, OH 43035

OFF-MARKET
Grocery and convenience stores
Property ID
US66-3729543
210,364 SF 34.55 ac lot Built 1991
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional 2-acre commercial land parcel presents a remarkable investment opportunity in Lewis Center, Ohio. Located on the heavily trafficked US-23 (Columbus Pike), this fully entitled site boasts an existing site plan for a state-of-the-art car wash, featuring a 200-foot tunnel, 16 covered and 18 uncovered vacuum stalls, and two pay stations. The property benefits from its strategic location within a thriving retail corridor, sharing access with a high-performing Meijer supermarket that attracts nearly 2 million annual visitors. Nearby, a strong concentration of national retailers including Dollar Tree, McDonald's, Wendy's, Walmart, Chipotle, Popeyes, Arby's, Chase Bank, Bank of America, T-Mobile, Kohl's, Subway, Staples, Five Guys, Smoothie King, and Tim Hortons, further enhances the property's visibility and appeal. The site's exceptional location on US-23, a major north-south highway with approximately 30,000 vehicles per day, ensures high traffic counts and significant exposure. Moreover, the surrounding community demonstrates robust demographics, with a 5-mile radius population of 179,690 and an average household income of $159,304, projected to grow at an annual rate of 2.63% between 2024 and 2029. The property's proximity to downtown Columbus (approximately a 20-minute drive) adds to its desirability, given Columbus's status as a rapidly growing metro area with strong wage and population growth. This fully entitled car wash site offers significant redevelopment upside, while also presenting opportunities for other commercial uses, including banks, quick-service restaurants, and additional retail establishments. The asking price for this fee-simple ownership opportunity is $2,000,000. The property is zoned for commercial use.

Property profile

Verified
Property type Grocery and convenience stores
Use group GROCERY, SUPERMARKET
Year built 1991
Total area 210,364 SF
Lot 34.55 ac (1,505,129 SF)
APN 318-324-02-003-007
UPID US66-3729543

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
  • Specialty Food Shop Supermarket
  • Atm
  • Pharmacy
  • Bank Credit Union
  • Bank Credit Union

Location

8870 Columbus Pike Lewis Center, OH 43035-9115
Lewis Center metro Census 11520 COLUMBUS, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$12.58M
Comparable Approach Comparable
$12.23M
Blend (final) Blend
$10.71M

Owner & transaction history

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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