Multi-Tenant Office
For Sale
Contact for pricing
104-108 N Murray Hill Rd, Columbus, OH 43228
A medical office tenancy is in place at this west-side property, with access to W. Broad Street and I-270.
Property Size11,065 SF
Lot Size1.80 Acres
Price / SF$131.04
Days on Market10
Property Features for 104-108 N Murray Hill Rd
General Information
Standard status
Active
Size
11,065 SF
Lot size
1.80 Acres
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Alterra Real Estate Advisors
(380) 204-7784
Listed By:
Jackson Pulliam · License #2018005012
(614) 285-7234
Source:
Moodyscre
Added: Oct 6
Changed: Oct 12
Last Checked: Oct 15 at 12:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
This multi-tenant office building contains 11,065 square feet and sits on a 1.797-acre site. Medical office tenancy is established within the property, and the site includes parking for employees, patients, and visitors.
Located in Prairie Township’s Lincoln Village submarket, the property offers access to W. Broad Street and I-270, along with surrounding amenities.
Located in Prairie Township’s Lincoln Village submarket, the property offers access to W. Broad Street and I-270, along with surrounding amenities.
Key Highlights
- 11,065‑square‑foot office building
- 1.797‑acre site
- Existing medical office tenancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,271
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,345,420
$2.3M
Cap Rate 7%
$1,675,300
$1.7M
Cap Rate 9%
$1,303,011
$1.3M
Market Conditions
NOI Build-Up for 11,065 SF
Gross rent
$212.4K $19.20/SF
− Vacancy
−$17.0K −$1.54/SF
EGI
$195.5K $17.66/SF
− OpEx
−$78.2K −$7.07/SF
NOI
$117.3K $10.60/SF
Area
ZIP 43228
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,345,420
Cap Rate 7%
$1,675,300
Cap Rate 9%
$1,303,011
Alternative Uses
Best Use
Healthcare Medical
$1.68M
$1.47M – $1.95M
NOI $117,271 @ 7.0% cap · market cap 8.09%
Second Best
Office B
$1.58M
$1.38M – $1.84M
NOI $110,539 @ 7.0% cap · market cap 7.62%
Theoretical Best
Warehouse
$2.36M
$2.06M – $2.75M
NOI $164,910 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 43228, OH
58,465
Population
25,623
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
86%
High-School Grad
19.9 sq mi
ZIP Area
2,938
Density / Sq Mi
$60,895
Median Household Income
$40,211
Median Earnings
$1,169
Median Rent
$204,000
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - A medical office tenancy is in place at this west-side property, with access to W. Broad Street and I-270.
Where is this office building located?
The property is located at 104-108 N Murray Hill Rd Columbus, OH.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 11,065‑square‑foot office building; 1.797‑acre site; Existing medical office tenancy
