580 S High Street, Columbus, OH 43215 (MLS# 226015864)

Office/Contract Info

For Sale

Yes

Exchange

No

For Lease

No

Lease Rate $/Sq Ft

0

Remarks & Misc

Property Description

MODERN OFFICE BUILDING FOR SALE! Incredibly solid commercial office building with two levels of underbuilding parking located in the heart of the German Village/Brewery District. Within walking distance to the Franklin County Courthouses, the Statehouse, Downtown, as well as many of the City's best restaurants and bars, Schiller Park, Scioto Audubon Park and much more. The building offers views of the downtown skyline and the charming German Village area. Built in 1979, 580 South High Street was constructed using extremely durable precast concrete columns and beams, with precast flexicore planks (aka, hollowcore) spanning the floors, ceilings and roof. With a lifecycle of over 100 years, the precast structure is incredibly strong and stable with a height of twelve feet between each floor. This building has the potential to be gutted and newly repurposed for residential or mixed uses at a fraction of the cost of new construction. Interested investors and developers should be aware of this building's unique construction, since nearly every appraisal/assessment of the building, has incorrectly stated that the floors are made of concrete poured over a metal deck. Flexicore is superior for soundproofing, inherent fire resistance and lends itself to high-end finishing since the smooth ceilings can be left exposed for an industrial-modern look.

Income/Expenses

Gross Income

754991.77

Net Operating Income

442298.34

Total Expenses

312693.43

Addl Acceptance Cond

None Known

Yes

T Reimburses L

Curr Yr Est $/SF TRL

0

Services Available

Natural Gas Available

Yes

Building Type

Multi Tenant

Yes

MLS Primary PhotoSrc

Realtor Provided

Yes

Property Features