Property Description: 

Capital Commercial Partners is pleased to offer an Ohio Health Ground Lease located at 6960 E. Main Street in Reynoldsburg, Ohio, on the eastern edge of the Columbus metropolitan area. The 8,800 SF building is situated on 0.77 acres.

OhioHealth Corporation, rated AA+ by S&P and Aa2 by Moody’s, signed a 20-yearabsolute NNN ground lease with 11 years remaining. Rent commenced July 1, 2017 and goes to July 1, 2037. Four 5-year options follow the base term, with rent increasing 10% at each option.

The asking price is $1,407,761, equal to $160 per square foot and well below replacement cost. Net operating income is $73,750 with a 5.25% capitalization rate. Because the lease is absolute NNN, real estate taxes, insurance, and maintenance are the tenant’s obligation.

Reynoldsburg, a community of about 37,000 people in Franklin, Licking, andFairfi eld counties, is home to Limited Brands (Victoria’s Secret and Bath & BodyWorks), the Ohio Department of Agriculture, and the Ohio Fire Academy. The site isreached from I-70, I-270, State Route 16, U.S. 40, and State Route 256, and isminutes from John Glenn Columbus International Airport, RickenbackerInternational Airport, downtown Columbus, and The Ohio State University.