8870 Columbus Pike Lewis Center, OH 43035-9115
- Grocery and convenience stores
- 210,364 SF
- 34.55 lot acres
Current Use by Public Records
- Meijer / Grocery Store / Supermarket
- U.S. Bank ATM - North 23 Meijer / Atm
- Meijer Pharmacy / Medical Supply Store / Drug Store
- Coinstar / Money Transfer Service
- Western Union / Money Transfer Service
Property Details for 8870 Columbus Pike
- Year built
- 1991
- Lot size
- 34.55 lot acres
- Property size
- 210,364 SF
- Property type
- Grocery and convenience stores
- APN
- 318-324-02-003-007
- APU
- 31832402003007
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $13,630,000
- 6.5%
- $12,580,000
- 7%
- $11,685,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $12,228,000
- AI Estimate
- $7,318,000
Market price range: $12.2M - $43.2MMarket price range: $3.88M - $28.1M
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Location Insight
- Map
- Local Demand
- City
- Lewis Center
- County
- Delaware
- State
- Ohio
- Longitude
- -83.0229
- Latitude
- 40.1605
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
