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Stringtown Road Business Center 4 Properties Offered at $2,500,000 in Grove City, OH
Investment Highlights
- 41,050 Square Feet on 3.43 Acres
- Property Features 8 Drive-In Doors
- Month-To-Month Leases Offer Flexibility
- Unique Flex Offering in a Desirable Retail Corridor
- Over 140 Parking Spaces
Executive Summary
Located on busy Stringtown Road in Grove City, west of I-71 and just south of I-270, this property consists of 41,050 square feet on 3.43 acres. The property consists of 4 buildings currently configured for 15 rental suites. The rent roll currently has 13 tenants and one vacancy – it has historically been 100% occupied. The rental rates are below the market levels. The tenants are primarily small businesses with a mix of industrial, office, medical, fitness and retail. The property is being sold by the family that built the buildings.
Built in 1974, the buildings are constructed of steel and feature 8 drive-in doors. Each unit has its own HVAC system and is separately metered for gas and electricity. Ownership has replaced HVAC systems as needed over the years. The roofing systems are original metal roofs that were coated in 2021 and are under warranty.
This property is suitable for investors looking to upgrade the buildings and stabilize the rent roll from month-to-month tenancy to market lease terms.
Built in 1974, the buildings are constructed of steel and feature 8 drive-in doors. Each unit has its own HVAC system and is separately metered for gas and electricity. Ownership has replaced HVAC systems as needed over the years. The roofing systems are original metal roofs that were coated in 2021 and are under warranty.
This property is suitable for investors looking to upgrade the buildings and stabilize the rent roll from month-to-month tenancy to market lease terms.
Property Facts
| Price | $2,500,000 | Number of Properties | 4 |
| Price / SF | $60.98 / SF | Individually For Sale | 0 |
| Cap Rate | 3.42% | Total Building Size | 41,000 SF |
| Sale Type | Investment | Total Land Area | 8.70 AC |
| Status | Active |
| Price | $2,500,000 |
| Price / SF | $60.98 / SF |
| Cap Rate | 3.42% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 41,000 SF |
| Total Land Area | 8.70 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
West Building
3691-3775 Garden Ct, Grove City, OH 43123 |
Industrial | 19,000 SF | 1974 | - |
|
North Building
3663-3667 Garden Ct, Grove City, OH 43123 |
Industrial | 9,500 SF | 1974 | - |
|
East Building
2180 Stringtown Rd, Grove City, OH 43123 |
Retail | 9,000 SF | 1974 | - |
|
South Building
2228 Stringtown Rd, Grove City, OH 43123 |
Retail | 3,500 SF | 1974 | - |
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Stringtown Road Business Center