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Office

Multi-Tenant Office Building

1380 Dublin Rd, Columbus, OH 43215

Listing Price: $2,299,000

Cap Rate
5.58%
Rentable SF
18,118
Lot Size
1.37 acres
Year Built
1972

Investment Overview

Marcus & Millichap is pleased to present 1380 Dublin Road in Columbus, Ohio. This property is a 22,140-square-foot general and medical office building that is currently 52 percent occupied. The tenants include Community Medical Services, otherwise known as Premier Care of Ohio, and BERMEX Inc. Premier Care is the anchor tenant of the building occupying approximately 33 percent of the building. They have occupied their suite since November 1, 2018, under a double-net lease with an initial term of five years. Premier Care is an accredited outpatient treatment center with the focus of opioid treatment and part of the community Medical Services organization. Community Medical Services operates in nine states totaling forty-six locations. The second tenant is Bermex Inc. Bermex is a utility metering company that works to reduce customers’ costs by increasing efficiencies and identifying issues in the system. Bermex has occupied 3,268-square feet in the subject property since 2014. They operate under a gross lease with the landlord being responsible for roof, structure, utilities, and mechanical repairs and replacements. This asset is located in northwest Columbus along Dublin Road. Dublin Road provides the site with excellent visibility and accessibility seeing over 23,000 vehicles per day. Columbus is Ohio’s most populated metropolitan area. Its central location makes it a logistics hub as well as a midwestern commercial center being home to five fortune 500 companies. These factors continually draw a variety of residents to the region and remains a desirable location with affordable housing costs. Columbus is also home to Ohio State University which consistently has over 60,000 students enrolled annually. This property offers an investor the opportunity to acquire a cash flowing medical office facility anchored by a large healthcare organization. Renewal options for Premier Care and stabilization of the remaining 48 percent of the property provides a potential landlord a rare and highly sought-after value add opportunity that could yield them double digit returns (calculate total return of proforma).

Investment Highlights

  • Value Add Opportunity with 52 Percent Occupancy
  • Premier Care Anchor Tenant
  • Excellent Accessibility & Visibility

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Office

Multi-Tenant Office Building

Listing Price: $2,299,000

Cap Rate
5.58%
Rentable SF
18,118
Lot Size
1.37 acres
Year Built
1972

Investment Highlights

  • Value Add Opportunity with 52 Percent Occupancy
  • Premier Care Anchor Tenant
  • Excellent Accessibility & Visibility

Investment Overview

Marcus & Millichap is pleased to present 1380 Dublin Road in Columbus, Ohio. This property is a 22,140-square-foot general and medical office building that is currently 52 percent occupied. The tenants include Community Medical Services, otherwise known as Premier Care of Ohio, and BERMEX Inc. Premier Care is the anchor tenant of the building occupying approximately 33 percent of the building. They have occupied their suite since November 1, 2018, under a double-net lease with an initial term of five years. Premier Care is an accredited outpatient treatment center with the focus of opioid treatment and part of the community Medical Services organization. Community Medical Services operates in nine states totaling forty-six locations. The second tenant is Bermex Inc. Bermex is a utility metering company that works to reduce customers’ costs by increasing efficiencies and identifying issues in the system. Bermex has occupied 3,268-square feet in the subject property since 2014. They operate under a gross lease with the landlord being responsible for roof, structure, utilities, and mechanical repairs and replacements. This asset is located in northwest Columbus along Dublin Road. Dublin Road provides the site with excellent visibility and accessibility seeing over 23,000 vehicles per day. Columbus is Ohio’s most populated metropolitan area. Its central location makes it a logistics hub as well as a midwestern commercial center being home to five fortune 500 companies. These factors continually draw a variety of residents to the region and remains a desirable location with affordable housing costs. Columbus is also home to Ohio State University which consistently has over 60,000 students enrolled annually. This property offers an investor the opportunity to acquire a cash flowing medical office facility anchored by a large healthcare organization. Renewal options for Premier Care and stabilization of the remaining 48 percent of the property provides a potential landlord a rare and highly sought-after value add opportunity that could yield them double digit returns (calculate total return of proforma).

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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