10400 blacklick eastern road pickerington, oh 43147€¦ · howard hanna cell: (614) 940-4156...
TRANSCRIPT
FOR SALEOffice Building
10400 Blacklick Eastern Road
Pickerington, OH 43147
Asking Price $1,700,000
Julie Kemp, BROKER, CNE
Commercial Director
Howard Hanna
Cell: (614) 940-4156
Property Overview
PropertyAddress:
10400 Blacklick Eastern Road, Pickerington, OH 43147
Built: 2004
16,337 SFFront, 2-story building- 10,497 SF & Back, 1-story building- 5,840 SFTotal of 6 Restrooms, 2 on 2nd floor and 4 on 1st floor
Building Size:
1.35 Acres4/1000 shared parking lot
Acres:
Zoned: C-4Existing Office & Medical Office
Details: ❖ Excellent Owner/User Investment Opportunity
❖ 88% Occupied
❖ 2017 NOI: $143,209.32
❖ Tenants mix includes: Real Estate office, Orthopedic Surgeon, CPA,
Attorney, Church & Environmental Consulting group.
❖ Building SF on the County Auditor’s site are is incorrect.
❖ Owner’s have won their tax appealed. Auditor’s assessed value has been
reduced from $2.1M to $1,575,000. Value add play as this has reduced
the taxes $20,785 from $61,600 to $40,815
Asking Price: $1,700,000.00 $104/SF 8.4% Cap Rate
Contact: Julie Kemp, BROKER, CNECommercial Director
Cell: 614-940-4156
The information contained herein has been given to us by the owner of the property or other sources we deem reliable.We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease.
Parking: 4/1000.Parking lot and cross easements are shared with the adjacent 1.22 Acres of vacant land
Property Photos
Front ViewFront View
Reception Area Lobby and Reception Area
Lobby & Reception Area Monument Signage along Blacklick Eastern Rd
Floor Plan
Rent Roll, Income & Expenses
INVESTMENT ANALYSIS NEW STRUCTURE
July 1, 2016
RENT ROLL Bldg 10400 Blacklick Eastern Road
Howard Hanna Building INCOME Current
Leaseable Monthly Monthly Monthly Monthly Lease Expiration
Tenant Suite SF Gross Rent CAM Other Total
Antea Group 130 2354 3,905.00 0.00 0.00 3,905.00 11/4/2015in 3 year renewal option
Champions Land Dev Co. Subleased to: David Bhaerman-Room 102 110 154 495.00 0.00 0.00 495.00 5/31/2016should have adjusted up upon 1 year renewal by cpi %
Champions Land Dev Co. Subleased to: Tim Hamilton 109 145 400.00 0.00 0.00 400.00 5/31/2016should have adjusted up upon 1 year renewal by cpi %
Champions Land Dev Co. Subleased to: Freedom Food-Room 112 110 121 690.00 0.00 0.00 690.00 6/22/2014
Champions Land Dev Co. Subleased to: Jonathan Hedgepeth-Room 110+112U2 110 289 833.33 0.00 0.00 833.33 7/31/2015should have adjusted up upon 1 year renewal by cpi %
Dr. Lowery 105 1367 2,050.50 0.00 0.00 2,050.50 6/30/2018
Champions Land Dev Co. Subleased to: Brett Miller -room 106 110 105 475.00 0.00 0.00 475.00 8/31/2011annual one year renewals
Champions Land Dev Co. Subleased to: Pennell Tax Services 120 1650 950.00 0.00 0.00 950.00 12/31/2016one year option with CPI % increase
Jefferey Sams 140 1500 1,500.00 0.00 0.00 1,500.00 9/30/20163 year renewal option left
Ben Amick 105 105 550.00 0.00 0.00 550.00 1/31/2016
National Develpoment Council 103 105 700.00 0.00 0.00 700.00 2/28/2018
Vacant 3455 0.00 0.00 0.00 0.00
Total 1st Floor 11350 12,548.83 0.00 0 12,548.83
C3 Church 201 1938 2,664.75
Champions Land Development Co LLC X 1812 6,329.84 0.00 0 6,329.84 $ 1,177.63 Allen
Total 2nd Floor 3750 8,994.59 0.00 0 8,994.59 $ 824.34 Brennan
Total 15100 21,543.42 0.00 0.00 21,543.42 $ 1,690.00 Eichhorn
x12 x12 x12 $ 1,774.28 Jarvis
Grand Totals$
258,521.04 $
- $ - $ 258,521.04 $ 863.59 Stanley
RE Expenses: EXPENSES 15100SF $ 6,329.84
Electricity/gas $ 1.10 $
16,610.00
Grounds Maintenance $ 0.60 $
9,060.00
Property Insurance $ 0.25 $
3,775.00
Janitorial service and supplies $ 1.00 $
15,100.00
Management Fee $ 0.70 $
10,570.00
Real Estate Taxes $ 2.50 $
40,815.00
Repairs and Maintenance Labor $ 0.20 $
3,020.00
Repairs and Maintenance Supplies $ 0.20 $
3,020.00
Repairs and Maintenance $ 0.20 $
3,020.00
Trash Removal $ 0.10 $
1,510.00
Water and Sewer/Stormwater Fee $ 0.21 $
3,171.00
Non RE Expenses:
Copier lease$
2,604.00
Security system$
1,638.00 Sterling Protection-6 months?
Internet$
5,633.88 Level 3 Internet
Telephone Sysytem$
8,100.00 TBD cost; Star 2 Star
Telephone Maintenance$
2,106.37 Star 2 Star
TOTAL: $ 7.06 $
129,753.25
Net Operating Income$
128,767.79
Asking price $1,700,000 is 7.6% cap rate
Site Plan
Shared Parking Lot
Auditor’s Site Map
Aerial Map
Aerial Map