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Columbus Mixed-Use Redevelopment Opportunity

145 E Rich St, Columbus, OH 43215

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For Sale

Contact for pricing

Dynamic Columbus market: mixed-use redevelopment, cash flow, parking, and amenities.

Type:OFFICE

Property size:

23,884 SF

Lot size:

0.11 Acres

Price / SF:

$163/SF

HighLights

Class A redevelopment with all major building systems improved.
In‑place cash flow with an opportunity to add value through the current tenancy.
Sale includes a 27 space surface parking lot.
Surface and garage parking at Columbus Commons Garage.
Features open beam 14‑foot ceilings & exposed brick.
Multiple potential signage opportunities‑exterior and custom mural.

We can help!

Listing Contact

Andrew Jameson, SIOR, CCIM

For Sale

Contact for pricing

Dynamic Columbus market: mixed-use redevelopment, cash flow, parking, and amenities.

Type:OFFICE

Property size:

23,884 SF

Lot size:

0.11 Acres

Price / SF:

$163/SF

Added:: Oct 17, 2024
Days on Market:: 605
Last Refresh:: Apr 5 at 8:11 pm

Property Features for 145 E Rich St

General Information

Standard status: Active
Size: 23,884 SF
Lot size: 0.11 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Andrew Jameson, SIOR, CCIM

Listing agent Andrew Jameson, SIOR, CCIM

Listing office Colliers | Columbus

Listing date Oct 17, 2024

Source Moodyscre

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 Colliers | Columbus

HighLights

Class A redevelopment with all major building systems improved.
In‑place cash flow with an opportunity to add value through the current tenancy.
Sale includes a 27 space surface parking lot.
Surface and garage parking at Columbus Commons Garage.
Features open beam 14‑foot ceilings & exposed brick.
Multiple potential signage opportunities‑exterior and custom mural.

Overview

This property presents an owner-occupant opportunity in the Columbus market. It features in-place cash flow with the potential to add value through the current tenancy. The property is a Class A redevelopment with major building systems improved. Surface and garage parking are available at the Columbus Commons Garage. The sale includes a 27-space surface parking lot. Multiple potential signage opportunities exist, including exterior and custom mural options. The building features open beam 14-foot ceilings and exposed brick. Climate-controlled storage is located on the lower level. The property is a short walk from Columbus Commons Park, Dirty Franks, 16 Bit, Little Palace, and other amenities. The property size is 23,884 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$472.9k	$19.80
− Vacancy	−$105.0k	−$4.40
EGI	$367.9k	$15.40
− OpEx	−$92.0k	−$3.85
NOI	$275.9k	$11.55

23,884 SF · lease $19.80/SF/yr · vacancy 22.20% · expense 25.00%

Alternative Uses

Best Use

Office B

$3.94M

$3.45M – $4.60M (±1% cap)

NOI $275,939 @ 7.0% cap · market cap 7.08%

Second Best

Retail

$3.93M

$3.44M – $4.59M (±1% cap)

NOI $275,359 @ 7.0% cap · market cap 7.06%

Theoretical Best

Office A

$4.98M

$4.36M – $5.81M (±1% cap)

NOI $348,428 @ 7.0% cap · market cap 8.93%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Klema Connie J Law Firm Brahm & Cunningham LLC Law Firm Hartman Lot Parking Lot & Garage TriMark SS Kemp ... Big Box & Wholesale Store Nationwide Auto Shipping Logistics Company

Suggested Use

Location Insight

Map
Local Demand

City: Columbus
County: Delaware
State: Ohio
Longitude: -82.9955
Latitude: 39.9578

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For sale
Office buildings
OH
Columbus
43215
145 E Rich St

What type of property is this?

Office building - Dynamic Columbus market: mixed-use redevelopment, cash flow, parking, and amenities.

Where is this office building located?

The property is located at 145 E Rich St Columbus, OH.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: Class A redevelopment with all major building systems improved.; In‑place cash flow with an opportunity to add value through the current tenancy.; Sale includes a 27 space surface parking lot.