421 State St Columbus, OH 43215

Property Details for 421 State St

Year built

1923

Lot size

1.64 lot acres

Property size

50,609 SF

Property type

Office Properties & Spaces

Property subtype

Office space

Description

This exceptional Columbus, Ohio, property presents a unique investment opportunity for owner-users or developers. Located in the rapidly growing Franklinton submarket, adjacent to the $250 million Gravity Project, this creative office complex comprises two buildings totaling 50,609 square feet on a 1.64-acre lot. The property features a versatile layout with high ceilings, a modern open floor plan, and a mezzanine level plus basement. Currently 100% occupied by two tenants under a NNN lease, the property offers immediate income potential. Built in 1923 and renovated in 2016, the Class B buildings boast a unique design, ideal for creative office uses. The sale includes the "MANIFEST" building and a 0.51-acre lot at the corner of State and McDowell Streets. The property's prime location offers easy access to public transportation, downtown Columbus, the Scioto Peninsula, and ample public parking (2,000 spaces within easy reach). Conceptual drawings highlight the potential for rooftop activation, further enhancing the property's value and versatility. The property is zoned for the Arts Innovation District and East Franklinton District, reflecting its location in a thriving and dynamic area. The asking price is $8,900,000, translating to $175.86 per square foot. This represents a compelling investment in a high-growth area with significant upside potential.

Location Insight

City

Columbus

County

Franklin

State

Ohio

Longitude

-83.0119

Latitude

39.9585