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Key Details
Sold Price $1,253,500
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 23,256 sqft
Price per Sqft $53
MLS Listing ID 225003330
Sold Date 05/23/25
Year Built 1966
Annual Tax Amount $28,090
Lot Size 0.980 Acres
Lot Dimensions 0.98
Property Sub-Type Office
Source Columbus and Central Ohio Regional MLS
Property Description
Multi-tenant office ideal for investment/owner user. 3 stories above grade & 1 lower level partially below grade. Elevator, ADA ramp, New TPO Roof in 2024. 74 on-site parking spaces (3.18/1,000 SF), 34,869 Traffic Count. 6.92% Current Cap Rate with a Current 32.3% economic vacancy/loss to lease; increases to 12.8% Cap at 90% lease up. Priced at $1.3M ($55.59/SF). Short-term lease structures offer flexibility for new owner. Small office layouts offer value for tenants. Lots of upside potential by converting future leases to rentable SF instead of based on usable SF. Very well maintained and many suites renovated. Located in a dense area of Northern Columbus with immediate access to I-71.
Location
State OH
County Franklin
Area 0.98
Zoning CAC
Rooms
Other Rooms None
Dining Room No
Interior
Equipment No
Laundry No Laundry Rooms
Others
Tax ID 010-013470
Acceptable Financing Conventional
Listing Terms Conventional
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Tammy Holdren
REALTOR®| Branch Owner | License ID: SALM.2009000626
REALTOR®| Branch Owner License ID: SALM.2009000626