7900 East Broad Street, Blacklick, OH
CAP RATE 6.25%
NET OPERATING INCOME $308,000
LOT SIZE 2.45 AC
The subject offering is a net leased Walgreens. Walgreens had six years remaining on their lease but have shown commitment to the location by extending it an additional 6 years. The tenant now has 12 years remaining on the net lease with eight 5 year rights to renew. The net lease calls for minimal landlord obligations. Landlord is responsible for roof, structure, and replacement of the parking lot. The roof was replaced in 2016 with a 20 year no dollar limit warranty. The property also has a new parking lot completed in September 2016.
The subject property is positioned in a major retail trade area and surrounded by major national retailers including PetSmart, Hobby Lobby, Lowe’s and more. The Walgreens also benefits from its hard corner location offering excellent access and visibility.
Blacklick is a small unincorporated community in southern Jefferson Township, Franklin County, Ohio, United States. Blacklick is also included in the Columbus Metropolitan area. Jefferson Township is one of the seventeen townships of Franklin County, Ohio.
Columbus is the capital and largest city of the U.S. state of Ohio. It is the 15th largest city in the United States. with a population of 850,106 as of 2015 estimates. This makes Columbus the fourth most populous state capital in the United States, and the third largest city in the Midwestern United States. It is the core city of the Columbus, OH Metropolitan Statistical Area, which encompasses a ten county area. With a population of 2,021,632, it is Ohio’s third largest metropolitan area.