489-499 Lancaster Avenue, Reynoldsburg, OH 43068 (MLS# 223026034)

$2,500,000

489-499 Lancaster Avenue
Reynoldsburg, OH 43068
MLS# 223026034
Status: Closed
9551 sqft

1 / 12

Property Description
An 8-suite shopping center with a gas station and about 80 parking spaces. Ste. 489, 491, and 493, each has a frontage of 20' with a depth of 65', for a total of 1,300 sq. ft. each. Ste. 497 and 499, each has a frontage of 20' with a depth of 60' for a total of 1,200 sq. ft. Ste. 495 - AmeriStop Food mart, takes on three ste., which has been in business since the Shopping Center was built some 25 years ago. All tenants have their own electric, gas, internet, phone, and communication installations. All suites are rented and have multiple-year lease terms. Most tenants are on triple-net, which pays for their pro-rata shares of property taxes, insurance, and Common Areas Maintenance, such as parking lot maintenance, snow removal, lawn care, parking lot and walkway lighting, and the like.

Details

Location & Property Info

Original List Price: 2500000

Sold Price: $2,000,000

List Price/SqFt: 261.75

Sub-Type: Retail

Street #: 489-499

Street Name: Lancaster

Street Suffix: Avenue

County: Franklin

City (Mailing Addr): Reynoldsburg

State: OH

Zip Code: 43068

Dist To Interchange: 2

Corp LimitPerAuditor: Reynoldsburg

Township: Truro

Office/Contract Info

Buy Brkr/Tenant Rep: Yes

BB/TR Amount: 2

BB/TR Amount Type: Percent

Sub Agency: No

Sold Non-MLS: No

Status: Closed

MLS Entry Date: 2023-08-12

For Sale: Yes

Exchange: No

For Lease: No

General Property Info

Total SqFt Available: 9551

Bldg Sq Ft: 9551

Max Cont Sqft Avail: 9551

Minimum Sqft Avail: 9551

Occupancy Rate: 100

Number of Units: 6

# of Floors Above Gr: 1

Total Parking: 80

Year Built: 1988

Use Code: 458 - GAS STATION/CONVENIENT STORE

Acreage: 2.1

Tax Info

Parcel #: 060-007293

Tax Year: 2022

Tax Abatement: No

Taxes (Yrly): 34264

Status Change Info

Under Contract Date: 2023-08-16

Sold Date: 2023-11-15

Sold Price: $2,000,000

Sold Price/SqFt: 209.4

Income/Expenses

Gross Income: 181382.64

Total Expenses: 34264.16

Net Operating Income: 147118.48

Auction Info

Auction/Online Bidding Y/N: No

Property Features

Addl Acceptance Cond: None Known

Expenses Paid by L: Building Insurance

Heat Fuel: Gas

Sewer: Public Sewer

Mult Use: Retail

MLS Primary PhotoSrc: Realtor Provided

Listing Office: Keller Williams Greater Cols

Listing Agent: Sabrina Roman

Last Updated: November - 15 - 2023

The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Columbus Board of Realtors Multiple Listing Service.Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Columbus Board of Realtors Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Copyright 2020 Columbus Board of Realtors. All rights reserved.