The Shops At Walton Parkway

New Albany | Ohio

Offering Summary

  • Status: closed
  • Price: $4,503,280
  • CAP Rate: 6.68%
  • GLA: 15,060 SF
  • Net Operating Income: $301,016
  • Price/SF: $307.44
  • Year(s) Built: 2006
  • Lot Size (Acres): 2.651
  • Major Tenants: Blue Agave, f45 Fitness, Tim Hortons, Jersey Mike's
  • New Albany Was Voted #1 Suburb In America by Business Insider | Part of Columbus MSA which is #1 Fastest Growing City in the Midwest
  • Built in 2006 & Situated on 2.65 Acres | Class-A Brick Construction | Extremely Strong Frontage Parallel to Major Road
  • Strong Mixture of Diversified, Ecommerce-Proof Tenants | National, Regional, and Local Brands• Major Tenants Include: Tim Hortons, Jersey Mikes, F45 Fitness, Blue Agave, New Nails, Knockouts Hair
  • Anchored by Tim Hortons | End Cap with Drive Thru | Original Tenant Since Construction in 2006 | Only Coffee & Breakfast Provider within 2-Miles
  • Jersey Mikes & F45 Fitness | Brand New 10-Year Leases
  • Near-Term Upside Opportunity | New Nails Currently Paying Below Market Rent without Options | $10-15/SF Below Market
  • Projected Total Return of 15.5% with Principal Paydown | Assumes Highly Attainable Financing Terms
  • Staggered Lease Expirations & Prominent Rental Bumps in All Options | Weighted Average Lease Term Remaining of 6 . 5 -Years
  • Strategic Location Seeing Over 27,458 Vehicles Per Day | Immediately Off-Highway Seeing Additional 61,480 Vehicles Per Day
  • Dense & Affluent Demographics | Population Growth within 1-Mile and 3-Mile Radius of Over 180% and 203% Since 2000 | Average Household Income In Excess of $165,000
  • Barriers to Entry & Limited Competition| Closest Retail Center 3-Miles Away
  • Major Businesses Nearby Include Big Lots HQ, Abercrombie & Fitch HQ, Facebook, Amazon, Mt. Carmel Hospital, Lower, Discover, State Farm, and AEP
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director