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DaVita Northwood Analysis 605 Lemoyne Rd 8,924 SF Office Building Northwood, OH 43619 $1,350,000 ($151.28/SF) 6.49% Cap Rate
Investment Highlights
- 20+ Year Operating History
- Only (1) 5-Year Renewal Remains at Below Market Rent, Providing Upside in Lease Negotiations for Future Owner
- Market Rents Average $18.55/sf Providing Rental Upside at End of Lease in 2035
- Recent 5-Year Extension Highlighting Tenant Commitment to the Location
- Brand New Parking Lot Installed in 2024
Executive Summary
20+ Year Operating History
Recent 5-Year Extension Highlighting Tenant Commitment to the Location
Only (1) 5-Year Renewal Remains at Below Market Rent, Providing Upside in Lease Negotiations for Future Owner
Brand New Parking Lot Installed in 2024
Market Rents Average $18.55/sf Providing Rental Upside at End of Lease in 2035
Recent 5-Year Extension Highlighting Tenant Commitment to the Location
Only (1) 5-Year Renewal Remains at Below Market Rent, Providing Upside in Lease Negotiations for Future Owner
Brand New Parking Lot Installed in 2024
Market Rents Average $18.55/sf Providing Rental Upside at End of Lease in 2035
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
8,924 SF
Building Class
C
Year Built
1988
Price
$1,350,000
Price Per SF
$151.28
Cap Rate
6.49%
NOI
$87,615
Tenancy
Single
Building Height
1 Story
Typical Floor Size
8,924 SF
Building FAR
0.13
Lot Size
1.53 AC
Parking
38 Spaces (4.26 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Numbers | Improvements Assessment | $211,155 | |
| Land Assessment | $99,400 | Total Assessment | $310,555 |
Property Taxes
Parcel Numbers
Land Assessment
$99,400
Improvements Assessment
$211,155
Total Assessment
$310,555
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DaVita Northwood Analysis | 605 Lemoyne Rd
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