1110 Morse Rd - Loft/Creative Space FOR SALE


Columbus, OH 43229
$1,300,000 USD
614-554-4408
1110 Morse Rd, Columbus, OH for Sale
$1,300,000 USD
Loft/Creative Space - FOR SALE
1/30
null | 6.92% Cap Rate

1110 Morse Rd
Columbus, OH 43229


HIGHLIGHTS

  • 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
  • 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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

6.92%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

78

LAND DETAILS

LAND ACRES

0.98 AC

LAND SF

42,689 SF

ZONING

Community Activity Center

APN/PARCEL ID

010-013470

ASK ABOUT THIS PROPERTY

Doug TenenbaumHER, REALTORSMore Info
614-554-4408

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Doug TenenbaumHER, REALTORSMore Info
614-554-4408

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.