3931 Trueman Boulevard · Hilliard, OH 43026 · Specialty Retail
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TENANT COMMITMENT SUPPORTED BY GROWING STORE TRAFFIC:
Staples recently exercised a 5-year lease extension following strong performance at the location, with foot traffic increasing 15.4% year-overyear and 30.6% over the past two years, reinforcing the tenant’s longterm commitment to the site. Renewal was completed with no landlord concessions.
NNN LEASE STRUCTURE:
100% of tenants operate on NNN leases, virtually eliminating landlord operating expense exposure. Tenant reimbursements cover 98.4% of core operating expenses, with admin fee recoveries of $2,240 accounting for an additional 1.3%, creating a true net income property with minimal burden.
CREDITWORTHY ANCHOR TENANTS:
Staples (20,053 SF, 79.3% of GLA) and H&R Block (1,815 SF, 7.2% of GLA) combine for 86.5% of the property’s leasable area. This provides a stable, credit-backed income foundation of $266,652 annually, 81.9% of total base rent.
PROPERTY CONDITION:
The building was constructed in 2006 and has been meticulously maintained since completion, ensuring that the future owner will have little deferred maintenance for years to come.
STRONG TRAFFIC EXPOSURE:
The property benefits from exceptional traffic volumes along the surrounding corridor, with approximately 32,090 vehicles per day on Cemetery Road, 30,650 vehicles per day on Fishinger Boulevard, and 16,960 vehicles per day on Trueman Boulevard, providing consistent visibility and daily consumer flow to the site.
LEASE TERM STABILITY:
A 4.4-year WALT anchored by Staples (79.3% of GLA, lease through 2/2031) and Tutoring Club through 1/2032) provides predictable, long-dated cash flow with limited near-term rollover risk.
BUILT-IN RENT GROWTH:
Contractual rent escalations across the tenant roster — including 2.5% annual increases for Cloud 9 Cabinetry and scheduled bumps for Tutoring Club — drive NOI growth of 5.7% from Year 1 ($325,409) to Year 5 ($344,009) without any lease-up assumptions.
TIGHT RETAIL CORRIDOR WITH LIMITED AVAILABILTY:
The corridor has averaged only 1.51% vacancy over the past three years and currently sits at 1.40%, reflecting sustained tenant demand and limited competing space within the submarket.
SHADOW-ANCHORED BY NATIONAL BIG-BOX RETAILERS:
The property is strategically positioned as an outparcel to Home Depot and directly south of Target, benefiting from consistent consumer traffic generated by dominant national retailers.
SUPPLY-CONSTRAINED AREA DRIVING RENT GROWTH:
Located in the core Cemetery Road retail corridor, the property benefits from limited future retail supply and ongoing residential expansion. Market rental rates have grown from $15.95/SF in 2021 to $20.44/SF in 2026, reflecting a consistent 5.1% average annual growth.
IMMEDIATE ACCESS TO I-270 INTERCHANGE:
Located just off the I-270 interchange, the property benefits from exceptional regional connectivity and accessibility, providing strong traffic flow and convenient access for both local residents and commuters throughout the Columbus MSA.
STRONG DEMOGRAPHICS:
The property is well positioned on the border of Hilliard and Columbus with approximately 233,000 residents in a 5 mile radius. Hilliard is considered a top suburb in the market and has average household incomes of $160,000 in the immediate area which supports an already strong retail market.
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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.