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Shopping Strip

Ferguson Showroom Retail | Polaris Westar Plaza | Westerville OH

435 Polaris Pkwy, Westerville, OH 43082

Listing Price: $11,771,000

Cap Rate
5.85%
Gross SF
24,315
Rentable SF
24,315
Price/Gross SF
$484.10
Lot Size
3.45 acres
Year Built
2020

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in prime retail strip located at 435 Polaris Parkway, Westerville, Ohio, a prime located retail strip center (the “Property”). Built in 2020, 100% leased by Ferguson Bath, Kitchen & Lightning Gallery, Hot Chicken Takeover, Agape, Hammer & Nails, F45 Training and Freshtastic Spa, the Property comprises a +/-24,315 square foot building on +/- 3.45-acres, strategically positioned to be easy to access with high visibility for over 36,840 vehicles per day along Polaris Parkway, surrounded by retail, and other commercial development. The Property benefits from it’s highly visible location and an outparcel to recently developed 222-room Renaissance Hotel and medical offices anchored project. The area is well populated with over 186,000 people in 5 miles with an average Household Income of over $114,500. Located within 14 miles of John Glenn Columbus International Airport, 15 miles from Columbus, OH, only 14 miles from The Ohio State University, 122 miles from Cincinnati, and 131 miles from Cleveland. Within 5 miles there are over 73,400 households with an average household income over $114,520.

Investment Highlights

  • Subject Property Includes Two Brand New Multi-Tenant Buildings with 24,315-Square Feet of GLA on a 3.45-Acre Lot | Includes Ample Parking, Monument Signage, and Easy Ingress/Egresses | Built 2020
  • Absolute NNN Leases with Zero Landlord Responsibility | Tenant Ferguson Bath, Kitchen & Lighting Gallery Anchors Center, Occupying 50.89-Percent of the Total Gross Leasable Area
  • Robust Traffic Counts on Polaris Parkway (36,848 Vehicles per Day), North Cleveland Ave (20,894 VPD), State Route 3 (16,483 VPD) and I-71 Highway (115,067 VPD) (Source: CoStar 2020)
  • Nearby National Retailers Include IKEA, Cabela's, Costco, Home Depot, Meijer, Kroger, McDonald's, Starbucks, Walgreens, Burlington and More
  • Strategically Located in a Medical and Business Corridor with a Daytime Population of Over 214,500 within Five Miles of the Subject, as of 2020
  • Subject is Located Within One Mile from the Northridge Crossing Mall and Two Miles from the Polaris Fashion Place, a Shopping Mall with over 170 National and Local Retailers, Host of More than 75 Events a Year
  • Approximately 17,400 Pre-K-12 Students Across 22 Public Schools within Three Miles of Subject, Grades Pre K-12 (Source: PublicSchoolReview.com)
  • Subject is Less than a Five Minute Drive from Private Otterbein University, a 140-Acre Historic Campus with an Annual Enrollment of 3,000 Students and Student-to-Faculty Ratio of 12:1

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Shopping Strip

Ferguson Showroom Retail | Polaris Westar Plaza | Westerville OH

Listing Price: $11,771,000

Cap Rate
5.85%
Gross SF
24,315
Rentable SF
24,315
Price/Gross SF
$484.10
Lot Size
3.45 acres
Year Built
2020

Investment Highlights

  • Subject Property Includes Two Brand New Multi-Tenant Buildings with 24,315-Square Feet of GLA on a 3.45-Acre Lot | Includes Ample Parking, Monument Signage, and Easy Ingress/Egresses | Built 2020
  • Absolute NNN Leases with Zero Landlord Responsibility | Tenant Ferguson Bath, Kitchen & Lighting Gallery Anchors Center, Occupying 50.89-Percent of the Total Gross Leasable Area
  • Robust Traffic Counts on Polaris Parkway (36,848 Vehicles per Day), North Cleveland Ave (20,894 VPD), State Route 3 (16,483 VPD) and I-71 Highway (115,067 VPD) (Source: CoStar 2020)
  • Nearby National Retailers Include IKEA, Cabela's, Costco, Home Depot, Meijer, Kroger, McDonald's, Starbucks, Walgreens, Burlington and More
  • Strategically Located in a Medical and Business Corridor with a Daytime Population of Over 214,500 within Five Miles of the Subject, as of 2020
  • Subject is Located Within One Mile from the Northridge Crossing Mall and Two Miles from the Polaris Fashion Place, a Shopping Mall with over 170 National and Local Retailers, Host of More than 75 Events a Year
  • Approximately 17,400 Pre-K-12 Students Across 22 Public Schools within Three Miles of Subject, Grades Pre K-12 (Source: PublicSchoolReview.com)
  • Subject is Less than a Five Minute Drive from Private Otterbein University, a 140-Acre Historic Campus with an Annual Enrollment of 3,000 Students and Student-to-Faculty Ratio of 12:1

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in prime retail strip located at 435 Polaris Parkway, Westerville, Ohio, a prime located retail strip center (the “Property”). Built in 2020, 100% leased by Ferguson Bath, Kitchen & Lightning Gallery, Hot Chicken Takeover, Agape, Hammer & Nails, F45 Training and Freshtastic Spa, the Property comprises a +/-24,315 square foot building on +/- 3.45-acres, strategically positioned to be easy to access with high visibility for over 36,840 vehicles per day along Polaris Parkway, surrounded by retail, and other commercial development. The Property benefits from it’s highly visible location and an outparcel to recently developed 222-room Renaissance Hotel and medical offices anchored project. The area is well populated with over 186,000 people in 5 miles with an average Household Income of over $114,500. Located within 14 miles of John Glenn Columbus International Airport, 15 miles from Columbus, OH, only 14 miles from The Ohio State University, 122 miles from Cincinnati, and 131 miles from Cleveland. Within 5 miles there are over 73,400 households with an average household income over $114,520.

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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