5057 Freeway Dr E - Warehouse FOR SALE


Columbus, OH 43229
$15,250,000 USD
614-883-1200
5057 Freeway Dr E, Columbus, OH for Sale
$15,250,000 USD
Warehouse - FOR SALE
1/12
null | 5.44% Cap Rate

5057 Freeway Dr E
Columbus, OH 43229


HIGHLIGHTS

  • Site is located in a strategic location.
  • Recent capital improvements done to the property.
  • Located in preferred Columbus industrial market.
  • Value add opportunity.

OVERVIEW

This is a rare industrial investment opportunity with significant value-add potential due to below-market rents. Tenants are responsible for all operating expenditures, including taxes, insurance, maintenance, property management, landscaping, janitorial costs, building inspections, and utilities. The property has been well-maintained with recent capital improvements including a new roof in 2017 and parking lot repairs in 2020. Strategically located approximately 8 miles from downtown Columbus and along Interstate Highway 71, the property is well-positioned in the thriving Columbus, Ohio industrial market. This market has seen a significant increase in demand for warehouse distribution facilities over the past two years, given its strategic location within an eight-hour drive for 44% of the United States. Current tenants, Continental Office and Iron Mountain, are paying a blended rate of $3.29/SF, while the market rent in this submarket ranges from $7.00/SF to $7.50/SF, indicating substantial upside potential. The record low submarket industrial vacancy rate, escalating rents, and nearby residential developments make this property an extremely rare opportunity with high barriers to entry. This is an ideal investment for those looking to capitalize on the robust Columbus industrial market.

FOR SALE DETAILS

PRICE

$15,250,000 USD

PRICE/SF

$60 USD /SF

CAP RATE

5.44%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

UTILITIES

Lighting - Fluorescent, Gas - Natural

CLEAR CEILING HT

24 Ft

DOCKS

23

DRIVE INS

8

PARKING SPACES

164

LAND DETAILS

LAND ACRES

14.93

LAND SF

650,351

ZONING

M1

APN/PARCEL ID

010-150472

ASK ABOUT THIS PROPERTY

Tom SugarNewmarkMore Info
614-883-1200

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

Tom SugarNewmarkMore Info
614-883-1200

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