1110 Morse Rd
Columbus, OH 43229

Office Property For Sale

INVESTMENT HIGHLIGHTS

  • Multi-tenant office ideal for investment/owner user
  • Elevator, ADA ramp, New TPO Roof in 2024. 74 on-site parking spaces (3.18/1,000 SF), 34,869 Traffic Count
  • Short-term lease structures offer flexibility for new owner. Small office layouts offer value for tenants.
  • 3 stories above grade & 1 lower level partially below grade
  • 6.92% Current Cap Rate with a Current 32.3% economic vacancy/loss to lease; increases to 12.8% Cap at 90% lease up
  • Lots of upside potential by converting future leases to rentable SF instead of based on usable SF

EXECUTIVE SUMMARY

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.

PROPERTY FACTS Under Contract

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
23,256 SF
Building Class
C
Year Built
1975
Price
$1,300,000
Price Per SF
$56
Cap Rate
6.92%
NOI
$89,979
Percent Leased
68%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
5,814 SF
Slab To Slab
10’
Building FAR
0.54
Lot Size
0.98 AC
Zoning
Community Activity Center - Community Activity Center (CAC)
Parking
78 Spaces (3.35 Spaces per 1,000 SF Leased)

AMENITIES

  • Signage
  • Air Conditioning

PROPERTY TAXES

  • Listing ID: 34716339

  • Date on Market: 2/4/2025

  • Last Updated:

  • Address: 1110 Morse Rd, Columbus, OH 43229