6.65 AC Next To Lowe's, Kroger, and QSRs
Franklin County 2019 Assessment puts the Current Market Value of the land at $724,900
Across the street from Kroger and Lowe's anchored Georgesville Square power center. Next to Chipotle, McDonald's, Taco Bell, Kfc, and a number of other national tenants.
Excellent demographics with 2018 population of ±190,988 individuals with an average HH income of ±$64,031 (5-mile radius)
Absolute $1 Auction - NO Reserve
CBRE is pleased to present a ±6.65 AC undeveloped land parcel located at 1524 Georgesville Road (the "Property") in Columbus, Ohio. This Property offers an exceptional investment opportunity via development and first bid meets reserve.The Property is a ±6.65-Acre infill parcel surrounded by national retail tenants on adjacent third party outparcels including Advance Auto Parts, Taco Bell, Kfc, Chipotle, McDonalds, Red Lobster, Arby's, White Castle, and Valvoline. Positioned in the area's prime retail corridor, the Property sits across the street from Georgesville Square, a ±270K SF Kroger and Lowe's anchored center with a diverse mix of national tenants including Gnc, Applebee's, Bob Evans, Buffalo Wild Wings, At&T and many others.
The Property is being offered at a substantial discount as Franklin County's 2019 assessment puts the Current Market Value of the land at $724,900. With favorable zoning allowing a generous variety of uses, this offering provides the opportunity to develop an extremely well-located asset within a growing market with double-digit growth in the last ten years.
The Property is located in Columbus's Southeast Submarket which is known for its large industrial presence and in 4Q19 Gap, FedEx and Total Distribution all leased space in the submarket. In addition to the submarket's industrial presence, headquarters, marketing and research firms, and store design and real estate developers are joined by cutting edge information technology providers, manufacturers and logistics providers to create the Columbus Region's retail ecosystem. Shoppers from the Columbus suburbs seek out this area for its retail choices, numerous dining and QSR options, convenient location, and quality of the overall shopping experience. The Property is well located and proximate to a plethora of national co-tenants and several automotive dealerships including VW, Honda, Subaru, Hyundai, and Germain AutoMall. The Property's location just off Exit 5 on I-270 offers excellent accessibility to the broader area and those commuting to downtown daily. I-270, commonly known locally as The Outerbelt or the Jack Nicklaus Freeway, is widely regarded as a "suburb connector" and provides access to several suburbs and towns surrounding Columbus, including Grove City, Westerville, Worthington, Hilliard and Dublin and also provides access to John Glenn Columbus International Airport. The Property benefits from compelling demographics and in 2018, had approximately ±190,988 individuals residing within a five-mile radius, an Ahhi of ±$64,031 and ±$1.6B in annual budget expenditures.