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580 S High St
Columbus, OH 43215
Pear Tree Place · Office Property For Sale
Investment Highlights
- 3 stories of office space (~60,000 RSF total) - Iconic location with skyline views
- 1 below-grade gated parking garage with 97 covered spaces
- Prime walkable location near Downtown, the Statehouse, courthouses, and top dining destinations
- 1 level: parking garage with 43 covered spaces and 27 surface visitor spaces
- The property features incredibly durable precast construction (flexicore)
Executive Summary
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.
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.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
78,848 SF
Building Class
B
Year Built
1979
Price
$5,900,000
Price Per SF
$74.83
Percent Leased
89%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
26,283 SF
Slab To Slab
12’
Building FAR
2.23
Lot Size
0.81 AC
Zoning
UCR - Urban Core
Parking
179 Spaces (2.27 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 010-057433 | Improvements Assessment | $1,502,970 |
| Land Assessment | $245,980 | Total Assessment | $1,748,950 |
Property Taxes
Parcel Number
010-057433
Land Assessment
$245,980
Improvements Assessment
$1,502,970
Total Assessment
$1,748,950
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