Walgreens Columbus MSA 11.00 CAP Infill Demos 3093 Cleveland Ave

We are pleased to market the Walgreens property at 3093 Cleveland Ave in Columbus, Ohio ("The Property") for sale. Walgreens has been successfully operating at this location for 20 years and has approximately 5 years of firm term remaining before 10 (5-year) option periods on an absolute net lease with no landlord obligations whatsoever.
This opportunity allows investors to purchase a high-yield Walgreens asset with a substantial operating history in a highdensity residential area. The Property is the only Walgreens store for over 3 miles, serving 144,000+ residents in the 3-mile radius. Additionally, the Property benefits from its close proximity to Ohio State University. Located 3 miles southwest, Ohio State University is home to over 60,000 full-time students and 5,300 employees and is the region's largest employer.
The Property is situated in a dense retail trade corridor one block south of Northern Lights Shopping Center. With 360,471 square feet of retail space, Northern Lights Shopping Center is a significant consumer spending location. In addition, the Property is positioned across the street from a CVS pharmacy, making this a strategic location for both tenants. Recently, the CVS across the street shuttered the retail portion of the store, leaving only the pharmacy operational and further bolstering the subject Properties' merchandise sales.
Columbus, Ohio has the 7th largest economy in the United States and had the highest-growing population of any “big” city in America in 2023, with a 1.1+ population gain. Much of the recent growth is attributed to Ohio's 0% State Corporate Income or Profits Tax. Major employers are drawn to this business-friendly environment. Fortune 500 companies such as Nationwide Mutual Insurance Company with over 16,000 employees, and JP Morgan Chase with more than 19,200 employees in 13 buildings are some of the region's largest employers.
Recently, Intel announced plans to invest more than $20 billion in constructing two new leading-edge chip factories in the Columbus market. As the largest single private-sector investment in Ohio history, the initial phase of the project is expected to create 3,000 Intel jobs and 7,000 construction jobs over the course of the build, further showing Fortune 500 companies' commitment to the market.

Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, OH DRE Lic. BRK.20090000214.