Offering Memorandum Whitehall Retail Center| Columbus, OH

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Presentation transcript:

Offering Memorandum Whitehall Retail Center| Columbus, OH 3301-3309 E Main St| Columbus, OH 43213 Offering Memorandum

Executive Summary The Whitehall Retail Center represents the opportunity to acquire a 6,000 square foot retail center along East Main Street in a growing area with a Wal-Mart Supercenter just under a half mile away. The building currently has three tenants, a hair salon, a tax consultant and a convenience store with a liquor license. Though all the tenants are on short term leases they are proven entities that thrive in this type of market. The 29,000 vehicles per day down East Main Street as well as the close proximity to the Wal-Mart Supercenter ensure that there will always be demand for this space. This building offers significant upside to any owner that wishes to maximize value. The rents are below market and the center is in a prime location for a variety of different uses. PRICE: $389,000 Pro-Forma NOI: $44,811 Cap Rate: 11.5% RENTABLE SF. . . . . . . . . . . . . . . . . 6,000 LAND AREA . . . . . . . . . . . . . . . . . . 0.11 LEASE TYPE . . . . . . . . . . . . . . . . . .Gross YEAR BUILT . . . . . . . . . . . . . . . . . . 1955 PARKING SPACES. . . . . . . . . . . . . . .8 3301-3309 E Main St| Columbus, OH 43213|Page 6

Executive Summary The Whitehall Retail Center represents the opportunity to acquire a 6,000 square foot retail center along East Main Street in a growing area with a Wal-Mart Supercenter just under a half mile away. The building currently has three tenants, a hair salon, a tax consultant and a convenience store with a liquor license. Though all the tenants are on short term leases they are proven entities that thrive in this type of market. The 29,000 vehicles per day down East Main Street as well as the close proximity to the Wal-Mart Supercenter ensure that there will always be demand for this space. This building offers significant upside to any owner that wishes to maximize value. The rents are below market and the center is in a prime location for a variety of different uses. PRICE: $389,000 Pro-Forma NOI: $44,811 Cap Rate: 11.5% RENTABLE SF. . . . . . . . . . . . . . . . . 6,000 LAND AREA . . . . . . . . . . . . . . . . . . 0.11 LEASE TYPE . . . . . . . . . . . . . . . . . .Gross YEAR BUILT . . . . . . . . . . . . . . . . . . 1955 PARKING SPACES. . . . . . . . . . . . . . .8 3301-3309 E Main St| Columbus, OH 43213|Page 6

Market Intelligence 3301-3309 E Main St| Columbus, OH 43213|Page 18 28,966 VPD 3301-3309 E Main St| Columbus, OH 43213|Page 18

Offered Exclusively By: Retail Center| Columbus, Ohio Offered Exclusively By: Patrick Wathen Senior Vice President Office: 614.310.2173 Cell: 614.206.9228 pwathen@equity.net Matt Lasky Senior Vice President Office: 614.310.2166 Cell: 614.537.5956 mlasky@equity.net Parker White Sales Associate Office: 614.334.7825 Cell: 713.899.6389 pwhite@equity.net Offering Memorandum 3301-3309 E Main St| Columbus, OH 43213