1110 Morse Road, Columbus, OH 43229
$1,253,500
Property Type:
Office
Square Footage:
23,256
Lot Size (sq. ft.):
42,689
Status:
Closed
Current Price:
$1,253,500
List Date:
2/04/2025
Last Modified:
5/23/2025
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.
Supplements: ********
More Information MLS# 225003330
Location & Property Info
List Price/SqFt: 182.15
City (Mailing Addr): Columbus
Corp LimitPerAuditor: Columbus
Dist To Intersxn: 0.25
Office/Contract Info
For Sale: Yes
Exchange: No
For Lease: No
Lease Rate $/Sq Ft: 0
General Property Info
Max Cont Sqft Avail: 23256
Minimum Sqft Avail: 115
Total Available Sqft: 7137
Total Parking: 74
# of Docks: 0
Building Sqft: 23256
Lot Size (Side): 305
# of Elevators: 1
Use Code: 449 - ELEVATOR OFFICE BLDG-3+ STORY
Basement: Yes
# of Floors Above Gr: 3
Year Built: 1966
Acreage: 0.98
Tax Info
Zoning: CAC
Tax Abatement: No
Taxes (Yrly): 28090
Parcel #: 010-013470
Tax Year: 2023
Remarks & Misc
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.
Status Change Info
Sold Price/SqFt: 175.63
Under Contract Date: 2025-05-21
Sold Date: 2025-05-23
Sold Price: $1,253,500
Income/Expenses
Gross Income: 228237
Net Operating Income: 89979
Total Expenses: 138258
Addl Acceptance Cond
None Known: 1
T Reimburses L
Building Insurance: 1
Cam: 1
RE Taxes: 1
Utilities: 1
Curr Yr Est $/SF TRL: 0
Construction
Block: 1
Brick: 1
Heat Fuel
Gas: 1
Miscellaneous
Air Condition: 1
Building Type
Multi Tenant: 1
Auction Info
Auction/Online BiddingY/N: No
New Financing
Conventional: 1
MLS Primary PhotoSrc
Realtor Provided: 1
Sale Info
Seller Assisted Fin: N
Seller/Buyer Concessions: N
Location Property Info
Original List Price: 1300000
Sold Price: $1,253,500
Property Sub Type: Office
Street #: 1110
Street Name: Morse
Street Suffix: Road
County: Franklin
State: OH
Zip Code: 43229
Township: None
OfficeContract Info
Status: Closed
MLS Entry Date: 2025-02-04
Property Features
Addl Acceptance Cond: None Known
T Reimburses L: Building Insurance; Cam; RE Taxes; Utilities
Heat Fuel: Gas
Building Type: Multi Tenant
Construction: Block; Brick
Miscellaneous: Air Condition
New Financing: Conventional
MLS Primary PhotoSrc: Realtor Provided
Listing Office:
Hanna Commercial, LLC
Listing Agent:
Douglas T Tenenbaum
Last Updated: May - 23 - 2025
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