805 Hillsdowne Rd Westerville, OH 43081-7308

Property Details for 805 Hillsdowne Rd

Year built

2000

Lot size

0.12 lot acres

Property size

6,116 SF

Property type

Office buildings

APN

080-011387

APU

80011387

Description

This exceptional 6,256-square-foot medical office building in Westerville, Ohio, presents a compelling investment opportunity. Located within the Concord Square Office Park, this Class B property boasts a 100% occupancy rate with three tenants, generating a current cap rate of 6.89% and a pro-forma cap rate of 7.13%. The building, constructed in 2000 and renovated in 2022, features upgraded interior wood trim and panel doors, a new black iron fence (2022), and an exterior security camera (2020). Ample unreserved free parking is available throughout the office park, with 11 surface spaces conveniently located directly outside the building's entrance (1.75 spaces per 1,000 square feet). The property's strategic location offers easy access to major roadways, including the I-270 and SR 3 interchange (within a half-mile), and proximity to banks, restaurants, and shopping. The building's layout includes three suites: two on the first floor (1,647 SF and 1,483 SF, each with a reception area, three offices, a conference room, workstation area, and kitchenette) and one on the second floor (3,000 SF, featuring a reception area with granite floors, four to five offices, in-suite restrooms, a conference room, and a large office/war room with a gas fireplace). Tenants are responsible for gas, electric, internet, and in-suite janitorial services. The asking price is $870,000, representing a price per square foot of $139.07. The property's strong performance and desirable location make it an ideal addition to any investment portfolio. The pro-forma NOI is $62,005.

Location Insight

City

Westerville

County

Franklin

State

Ohio

Longitude

-82.9233

Latitude

40.1064

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments