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KeyBank, Powell, OH

KeyBank, Powell, OH

Investment Summary

Price $3,092,700
Cap Rate
Lease Term 7.5 Yrs + 5-Yr Option
Lease Type
Rental Increases Flat
Year Built 2003
Building Size 2,600 sq. ft.
Lot Size 1.12 Acres (48,787 sq. ft)
Status Sold
Lead Brokers Michael T. Yuras, CCIM
Executive Managing Director
CA RE License #01823291

Vince Aicale
Executive Director
CA RE License #01728696

Ryan Forsyth
Executive Director
CA RE License #01716551

Investment Highlights

HIGH QUALITY, INVESTMENT GRADE TENANT WITH PROVEN CUSTOMER BASE » 100% leased to KeyBank for 7.5 years with four five-year options » KeyBank recently exercised early option, demonstrating commitment to the location » Top 70th percentile for deposits for KeyBank in the Columbus MSA » Deposits increased over 25% at this location in the past two years ABSOLUTE TRIPLE NET LEASE » Tenant is responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot » No landlord management obligations » Ideal investment opportunity for a passive or out-of-area investor LOCATED IN AFFLUENT BEDROOM COMMUNITY » Average household income of $126,417 within a three-mile radius » Powell was ranked the Wealthiest Community in Ohio in 2015 » Powell is consistently ranked as a top place to live in the U.S. » Ideal market for KeyBank HARD-CORNER, COMMUTER LOCATION » Access and visibility to over 33,660 vehicles per day at intersection » Located on Columbus Pike, a major commuter route » Site features three drive-thru ATM lanes for unparalleled customer convenience

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Property Description


The property is strategically located at the corner of Meadow Park Avenue and Columbus Pike, with excellent access and visibility to 33,660 vehicles per day at the intersection. The site is located within one of Powell’s primary retail corridors. NorthPointe Plaza is directly across from the property; the 425,228 square foot center features 42 stores and services and is anchored by Walmart Supercenter and Kohl’s. Other major retailers in the immediate area include Meijer, Home Depot, Staples, and many others. The Market at Polaris, Polaris Fashion Place, and Polaris Towne Center are less than three miles from the property. The three retail centers have over 2.5 million square feet of combined retail area and 227 stores and services. Anchors include Bed Bath & Beyond, Sears, Macy’s, Von Maur, Target, Rave Cinemas, PetSmart, and others. Downtown Columbus is less than 15 miles from the property down Columbus Pike. Columbus Pike also connects directly to Interstate 270, Columbus’s beltway, making it a prime commuter route. The property is also advantaged by its close proximity to Powell’s popular tourist and event locations. Columbus Zoo and Aquarium is six miles from the site; the world-renowned zoo, amusement park, and golf course has over two million annual visitors. Approximately half a mile from the property is the Nationwide Hotel and Conference Center, a 192-room hotel and conference center with 35 conference rooms. The hotel serves as the National Training Headquarters for Nationwide Mutual Insurance Company, one of the region’s largest employers. Nationwide Hotel and Conference Center routinely hosts top-level conferences for many of Columbus’s top 20 corporations and educational institutions, including The Ohio State University, Otterbein College, Ohio Dominican College, and Ohio Wesleyan University.

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