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
Overview
Description
Listing Details MLS# 225003330
Location Property Info
- Original List Price
- 1300000
- Property Sub Type
- Office
- Street #
- 1110
- Street Name
- Morse
- Street Suffix
- Road
- County
- Franklin
- State
- OH
- Zip Code
- 43229
- Township
- None
OfficeContract Info
- MLS Entry Date
- 2025-02-04
General Property Info
- Total Available Sqft
- 7137
- Building Sqft
- 23256
- Max Cont Sqft Avail
- 23256
- Minimum Sqft Avail
- 115
- # of Floors Above Gr
- 3
- # of Elevators
- Yes
- Total Parking
- 74
- Use Code
- 449 - ELEVATOR OFFICE BLDG-3+ STORY
- Year Built
- 1966
- Basement
- Yes
- Lot Size (Side)
- 305
- Acreage
- 0.98
- # of Docks
- 0
Tax Info
- Parcel #
- 010-013470
- Zoning
- CAC
- Tax Year
- 2023
- Tax Abatement
- No
- Taxes (Yrly)
- 28090
Status Change Info
- Under Contract Date
- 2025-05-21
- Sold Date
- 2025-05-23
- Sold Price/SqFt
- 175.63
Auction Info
- Auction/Online BiddingY/N
- No
More Information
Sale Info
- Seller Assisted Fin
- N
- Seller/Buyer Concessions
- N
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
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.
Income/Expenses
- Gross Income
- 228237
- Net Operating Income
- 89979
- Total Expenses
- 138258
Addl Acceptance Cond
- None Known
- Yes
T Reimburses L
- Building Insurance
- Yes
- Cam
- Yes
- RE Taxes
- Yes
- Utilities
- Yes
- Curr Yr Est $/SF TRL
- 0
Construction
- Block
- Yes
- Brick
- Yes
Heat Fuel
- Gas
- Yes
Miscellaneous
- Air Condition
- Yes
Building Type
- Multi Tenant
- Yes
New Financing
- Conventional
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
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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