Columbus Mixed-Use Redevelopment Opportunity

145 E Rich Street, Columbus, OH 43215

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For Sale

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Mixed-use property with redevelopment potential in a dynamic Columbus market.

Type:Mixed Use, Office

Property size:

23,884 SF

Price / SF:

$163/SF

HighLights

In‑place cash flow with opportunity to add value.
Class A redevelopment with all major building systems improved.
Surface and garage parking at Columbus Commons Garage.
Multiple potential signage opportunities.
Enjoy the open beam 14‑foot ceilings & exposed brick.
Climate controlled storage located on lower level.

We can help!

Contact an agent

Andrew Jameson

For Sale

Contact for pricing

Mixed-use property with redevelopment potential in a dynamic Columbus market.

Type:Mixed Use, Office

Property size:

23,884 SF

Price / SF:

$163/SF

Added:: Oct 18, 2024
Days on Market:: 628
Last Refresh:: Jun 27 at 9:20 pm

Property Features for 145 E Rich Street

General Information

Standard status: Active
Size: 23,884 SF
Property subtype: Mixed Use, Office

We can help!

Contact an agent

Andrew Jameson

Listing office Colliers - Columbus, Ohio

Listing date Oct 18, 2024

Source Crexi

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, Ohio

HighLights

In‑place cash flow with opportunity to add value.
Class A redevelopment with all major building systems improved.
Surface and garage parking at Columbus Commons Garage.
Multiple potential signage opportunities.
Enjoy the open beam 14‑foot ceilings & exposed brick.
Climate controlled storage located on lower level.

Overview

This mixed-use property presents an ideal opportunity for an owner occupant in the heart of the dynamic Columbus market. The property offers in-place cash flow with the potential to add value through the current tenancy. It is a Class A redevelopment with major building systems improved. Parking options include surface and garage parking at Columbus Commons Garage, with the sale including a 27-space surface parking lot. The property features multiple potential signage opportunities, including exterior and custom mural options. Interior features include 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 23884 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

Mixed Use

$3.92M

$3.43M – $4.57M (±1% cap)

NOI $274,069 @ 7.0% cap · market cap 7.03%

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: -82.9955346
Latitude: 39.9578449

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For sale
Mixed-use properties
OH
Columbus
43215
145 E Rich Street

What type of property is this?

Mixed-use property - Mixed-use property with redevelopment potential in a dynamic Columbus market.

Where is this mixed-use property located?

The property is located at 145 E Rich Street 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: In‑place cash flow with opportunity to add value.; Class A redevelopment with all major building systems improved.; Surface and garage parking at Columbus Commons Garage.