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5777 Frantz Rd
Dublin, OH 43017
DNV GL · Office Property For Sale
Investment Highlights
- 100% leased to DNV GL USA, Inc
- +/- 82,000 SF laboratory asset with 84 load test frames in corresponding laboratory states
- The Tenant has occupied the building since 2005 maintaining a highly skilled and experienced staff of materials scientists, engineers and NACE-certi
Executive Summary
Marcus and Millichap is pleased to offer the opportunity to acquire a +/- 82,000 SF laboratory located at 5777 Frantz Road in Dublin (Columbus MSA), OH (“Asset” or “Property”). The Asset is 100% leased by DNV GL USA, Inc. (“Tenant” or “DNV” or “Lab”) who has occupied the building since 2005 on a NNN lease and recently signed a three-year lease extension. The Asset is being offered at a well below replacement cost of $89 / SF, totaling $7,330,000.
This single tenant NNN lease laboratory Asset provides a future investor with secure cash flow, given the Tenant has occupied the building for 20 years and recently executed a 3-year extension. Additionally, the Tenant’s parent company is an investment grade international corporation. There are no known environmental conditions, and ownership has a clean phase I from 2014. This investment allows investors the opportunity to acquire a building with extensive lab buildout at well below replacement cost, with strong and secure in-place income, and with the ability to achieve highly attractive yields
This single tenant NNN lease laboratory Asset provides a future investor with secure cash flow, given the Tenant has occupied the building for 20 years and recently executed a 3-year extension. Additionally, the Tenant’s parent company is an investment grade international corporation. There are no known environmental conditions, and ownership has a clean phase I from 2014. This investment allows investors the opportunity to acquire a building with extensive lab buildout at well below replacement cost, with strong and secure in-place income, and with the ability to achieve highly attractive yields
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
87,885 SF
Building Class
B
Year Built
1980
Price
$7,330,000
Price Per SF
$83.40
Cap Rate
10.49%
NOI
$768,917
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
40,985 SF
Building FAR
0.20
Lot Size
10.31 AC
Zoning
N/Av, Dublin
Parking
207 Spaces (3.12 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Fitness Center
- Pond
- Signage
Property Taxes
| Parcel Number | 273-012620 | Improvements Assessment | $1,545,640 |
| Land Assessment | $694,370 | Total Assessment | $2,240,010 |
Property Taxes
Parcel Number
273-012620
Land Assessment
$694,370
Improvements Assessment
$1,545,640
Total Assessment
$2,240,010
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