3124 Westerville Rd - Industrial FOR SALE


Columbus, OH 43224
$1,000,000 USD
270-535-2265
3124 Westerville Rd, Columbus, OH for Sale
$1,000,000 USD
Industrial - FOR SALE
1/4
null | Request Cap Rate

3124 Westerville Rd
Columbus, OH 43224


HIGHLIGHTS

  • STRONG RENTAL UPSIDE – Rents ±46.38% below market, translating to 86% in upside. This provides an opportunity to increase rent and convert to NNN.
  • SMALL SUITES – The average suite size of ±2,207 SF minimizes vacancy risk and allows investors to maximize the property’s net operating income.
  • BALANCED TENANT OCCUPANCY – Each suite constitutes 11% – 32% of the property, minimizing vacancy risk.
  • MONTH TO MONTH – Month to month leases create flexibility for new ownership seeking to occupy space or tap into the rental upside.
  • LOW VACANCY RATE – There is a 2.4% vacancy rate across all industrial/flex product in a ±five mile radius of the property.

OVERVIEW

Matthews Real Estate Investment Services™, as exclusive broker, is pleased to offer the opportunity to acquire 3124 Westerville Rd, a multi-tenant industrial property with an auto service use. The property is fully occupied by 6 tenants including the billboard rented by Lamar Advertising. 73% of the property is occupied on a month to month basis creating flexibility for owner occupants and investors. Investors have the opportunity to purchase a property below replacement cost with tremendous upside and occupants have an opportunity to purchase a hard to find auto service property. Matt Wallace License No. REC.2022007141 (OH) (866) 889-0550 Matthews Real Estate Investment Services, Inc 950 Main Ave., Suite 510, Cleveland, OH 44113

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$91 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

ADD'L SUBTYPES

Auto Dealership, Freestanding, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

UTILITIES

-

CLEAR CEILING HT

13 Ft

DOCKS

-

DRIVE INS

5

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1

LAND SF

43,350

ZONING

CS

APN/PARCEL ID

130-011817

ASK ABOUT THIS PROPERTY

Woody WaltonMatthews Real Estate Investment ServicesMore Info
270-535-2265

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Woody WaltonMatthews Real Estate Investment ServicesMore Info
270-535-2265

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