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29944203
29944204

3033 & 3055 Kettering Blvd, Moraine, OH 45439 For Sale

FB
IN AB21405968
Marcus & Millichap - Indianapolis
JD
IN RB14051407
Marcus & Millichap - Indianapolis
Sam Curtis
GP
RB18000371
Marcus & Millichap - Indianapolis
ZR
RB21002086
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis, Sam Curtis
$5,510,000
143 days on market
Updated 57 days ago

Point West Office Portfolio

Details
APN J44-04103-0219 | J44-04103-0222
Property Type Office
Sub Type Traditional Office, Medical Office
Square Footage 130,584
Cap Rate 7.7%
NOI $424,330
Occupancy 68.17%
Tenancy Multi
Price per SqFt $42
Broker Co-Op Yes
Year Built 1985 & 1986
Buildings 2
Stories 4
Acreage 8.120
Zoning Office
Parking Spaces 497 spaces
Parking per 1,000 SqFt 3.81
Investment Type Value Add

Office | 7.70% CAP | 130,584 SqFt

Marketing description

Point West Office Portfolio is a two building multi-tenant professional office portfolio totaling 131,172 sqft. The office buildings were built in 1985 and have been extremely well maintained and updated over the years. The properties are currently sitting at a combine occupancy of 74%, with Point West II being 87% and Point West III being 59%. The properties are occupied by a strong diverse mix of local and regional professional tenants with high value-add potential for a new owner.

Point West Office Portfolio is located in the South-Central Dayton Submarket, just 10 minutes from downtown Dayton, in Moraine, Ohio. The subject property is situated .5 miles off I-75 N as well as 9 miles from I-70 – an extremely populated commercial highway that gets approximately 53,000 VPD. With a current population of 746,000 in the Dayton Metro area, the Point West Office Portfolio is provided as one of the only communities serving Class B Medical/Professional office assets in the relative area.

Point West Office Portfolio is one of the rare office parks in the area that couples immediate access to downtown Dayton with abundant parking and attractive landscaping surrounding the buildings. The subject properties sits on over 8 acres and features over 489 surface parking spaces between the two buildings. The northern elevation of the buildings also features high visibility looking over Dorothy Ln, which also provides ease of access to both offices and the restaurants that surround them.

With a 5.6% market vacancy and proof of concept in Point West II, the subject properties provide a rare opportunity for an investor to capitalize on acquisition with strong cash flow upside potential with vacancy and replaceable, below market rents.

Investment highlights

  • Diversified Medical and Professional Tenants
  • Significant Vacancy Upside for New Owners
  • Strategically Positioned along I-75 and I-70 53,000 VPD
  • Low Price Per Square Foot Sale

Listing Contacts

FB
IN AB21405968
Marcus & Millichap - Indianapolis
JD
IN RB14051407
Marcus & Millichap - Indianapolis
Sam Curtis
GP
RB18000371
Marcus & Millichap - Indianapolis
ZR
RB21002086
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis, Sam Curtis

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$424,330.00
$35,360.83/mo

Valuation Metrics

0
DSCR
7.7%
Cap Rate
7.7%
ROI

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Additional Information

Name
Michael Glass
License
OH BRK.2007005898
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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