1110 Morse Road, Columbus, OH 43229 (MLS# 225003330)

1110 Morse Road, Columbus, OH 43229

$1,253,500

Property Type: Office Square Footage: 23,256 Lot Size (sq. ft.): 42,689 Status: Closed

Current Price: $1,253,500 List Date: 2/04/2025 Last Modified: 5/23/2025

Description

Multi-tenant office ideal for investment/owner user. 3 stories above grade & 1 lower level partially below grade. Elevator, ADA ramp, New TPO Roof in 2024. 74 on-site parking spaces (3.18/1,000 SF), 34,869 Traffic Count. 6.92% Current Cap Rate with a Current 32.3% economic vacancy/loss to lease; increases to 12.8% Cap at 90% lease up. Priced at $1.3M ($55.59/SF). Short-term lease structures offer flexibility for new owner. Small office layouts offer value for tenants. Lots of upside potential by converting future leases to rentable SF instead of based on usable SF. Very well maintained and many suites renovated. Located in a dense area of Northern Columbus with immediate access to I-71.

Supplements: ********

More Information MLS# 225003330

Location & Property Info

List Price/SqFt: 182.15 City (Mailing Addr): Columbus Corp LimitPerAuditor: Columbus Dist To Intersxn: 0.25

Office/Contract Info

For Sale: Yes Exchange: No For Lease: No Lease Rate $/Sq Ft: 0

General Property Info

Max Cont Sqft Avail: 23256 Minimum Sqft Avail: 115 Total Available Sqft: 7137 Total Parking: 74 # of Docks: 0 Building Sqft: 23256 Lot Size (Side): 305 # of Elevators: 1 Use Code: 449 - ELEVATOR OFFICE BLDG-3+ STORY Basement: Yes # of Floors Above Gr: 3 Year Built: 1966 Acreage: 0.98

Tax Info

Zoning: CAC Tax Abatement: No Taxes (Yrly): 28090 Parcel #: 010-013470 Tax Year: 2023

Remarks & Misc

Property Description: Multi-tenant office ideal for investment/owner user. 3 stories above grade & 1 lower level partially below grade. Elevator, ADA ramp, New TPO Roof in 2024. 74 on-site parking spaces (3.18/1,000 SF), 34,869 Traffic Count. 6.92% Current Cap Rate with a Current 32.3% economic vacancy/loss to lease; increases to 12.8% Cap at 90% lease up. Priced at $1.3M ($55.59/SF). Short-term lease structures offer flexibility for new owner. Small office layouts offer value for tenants. Lots of upside potential by converting future leases to rentable SF instead of based on usable SF. Very well maintained and many suites renovated. Located in a dense area of Northern Columbus with immediate access to I-71.

Status Change Info

Sold Price/SqFt: 175.63 Under Contract Date: 2025-05-21 Sold Date: 2025-05-23 Sold Price: $1,253,500

Income/Expenses

Gross Income: 228237 Net Operating Income: 89979 Total Expenses: 138258

Addl Acceptance Cond

None Known: 1

T Reimburses L

Building Insurance: 1 Cam: 1 RE Taxes: 1 Utilities: 1 Curr Yr Est $/SF TRL: 0

Construction

Block: 1 Brick: 1

Heat Fuel

Gas: 1

Miscellaneous

Air Condition: 1

Building Type

Multi Tenant: 1

Auction Info

Auction/Online BiddingY/N: No

New Financing

Conventional: 1

MLS Primary PhotoSrc

Realtor Provided: 1

Sale Info

Seller Assisted Fin: N Seller/Buyer Concessions: N

Location Property Info

Original List Price: 1300000 Sold Price: $1,253,500 Property Sub Type: Office Street #: 1110 Street Name: Morse Street Suffix: Road County: Franklin State: OH Zip Code: 43229 Township: None

OfficeContract Info

Status: Closed MLS Entry Date: 2025-02-04

Property Features

Addl Acceptance Cond: None Known T Reimburses L: Building Insurance; Cam; RE Taxes; Utilities Heat Fuel: Gas Building Type: Multi Tenant Construction: Block; Brick Miscellaneous: Air Condition New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Listing Office: Hanna Commercial, LLC

Listing Agent: Douglas T Tenenbaum

Last Updated: May - 23 - 2025

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