This property is Off-Market

4885 Olentangy River Road
Columbus, OH 43214 ·

28,770 SF · Office For Sale

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The COPC Building

Price N/A Cap Rate 7.51%
Building Size 28,770 SF Occupancy 100%
Property Type Office Building Class A
Property Sub-type Medical Office Tenancy Single
Property Use Type Net Lease Investment with 9 years left on lease Lot Size 3.43 SF
Listing ID: 17483974 Date Created: 01/12/2012 Last Updated: 09/20/2012

Description

Marcus & Millichap is pleased to offer for sale the Central Ohio Primary Care (COPC) Medical Building located at 4885 Olentangy River Rd. on the Northwest side of Columbus, OH. This property is located just 2 miles from OhioHealth operated Riverside Methodist Hospital and is ideally situated amongst numerous other medical office buildings.

COPC is encumbered by a 14-year absolute net lease; an option that was executed in 2006. The lease expires on October 31st, 2020 with one 10-year option through 2030. The rent increases every two years based upon the Consumer Price Index. If the rent were to decrease based on the CPI, the new rate will remain the same as the previous two years.

COPC is the second largest physician-owned primary care medical group in the country made up of over 200 doctors and 46 practices. Headquartered in nearby Westerville, OH, COPC has locations in Franklin, Fairfield, Union, and Delaware counties. The Same Day Center provides care for immediate medical needs and there are also three diagnostic centers.

This medical offering allows an investor the opportunity to acquire a stable, recession-proof tenant located in a city with a number of major medical groups. The rental increases based upon the corresponding two-year increase in the CPI index provide the best possible hedge against any imminent future inflation.

Highlights

  • STNL Medical Building
  • 9 Years Left on NNN Lease
  • Tenant Is The Second Largest Physician-Owned Primary Care Medical Group in The Country
  • Next Rent Increase November 2012
  • Located in Heavily Populated Medical Office Quadrant
  • CPI-based Increases Provide Best Hedge Against Inflation

Research

4885 Olentangy River Road, Columbus, OH 43214 (Franklin County)

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