This Office Property is Off-Market.

1051 Worthington Woods Boulevard
Worthington, OH 43085 ·

11,838 SF · Office For Sale

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Social Security Administration

Price N/A Occupancy 100%
Building Size 11,838 SF Building Class A
Property Type Office Tenancy Single
Property Sub-type Institutional/Governmental Year Built 2007
Property Use Type Investment Lot Size 1.37 AC
Cap Rate 8.10%
Listing ID: 16728555 Date Created: 06/18/2010 Last Updated: 10/25/2010

Description

Marcus & Millichap is pleased to announce for sale an 11,838 square foot single tenant office building that is 100 percent leased to the U.S. Social Security Administration. The offering price is $2,790,500, which represents a 8.10% CAP Rate. The building was built for the U.S. Government. In November 2007, a ten year lease was initiated. This property could also be purchased as part of a two to five property U.S. government leased single-tenant portfolio with long-term leases in place.

This property gives an investor stabilized cash flow with the support of a very stable tenant, the U.S. Government. In addition, a three percent management fee was included in the underwriting of this investment opportunity. The property is well located in an active office/retail corridor and has convenient freeway access. There are no termination clauses in this lease. This property will be delivered free and clear of any existing financing.

This asset is located in Worthington, Ohio. Worthington is located in the center of the state at Ohio' s crossroads the intersection of U.S. State Route 23 and State Route 161 and affords easy access to all parts of the Ohio and the nation. A suburb of Columbus, the state capital, Worthington offers all of the attractions and conveniences of a big city combined with the charm of small town living.

Worthington was one of the Midwest' s first planned communities, blending commerce, residential life, education and faith. Founded in 1803, Worthington reflects its dignified New England heritage with authentic brick sidewalks leading to the central Village Green where many of the city' s original commercial buildings and churches still stand proudly. Today, as in ages past, people come to meet and greet on the Village Green and stroll the streets of downtown Worthington.

Research

1051 Worthington Woods Boulevard, Worthington, OH 43085 (Franklin County)

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