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31874015
31874016

2480 ALUM CREEK DR, COLUMBUS, OH 43207-2805

SO
OH 2022005236
Parker Realty Associates
Listed by Parker Realty Associates
$21,150,000
40 days on market
Updated 2 days ago
Opportunity zone

2480 ALUM CREEK DR

Details
APN 010-115118, 010-112327, 010-111416, 010-111411
Property Type Multifamily, Industrial (+1)
Sub Type Apartment Building, Flex (+1)
Square Footage 1,039
Units 2
Broker Co-Op True
Year Built 1900
Stories 2
Acreage 46.770
Zoning RRR-H35
Investment Type Redevelopment
Ground Lease No
Sale Condition 1031 exchange

Opportunity Zone | Development Opportunity

Marketing description

2480 Alum Creek Drive presents a rare large-scale infill redevelopment opportunity comprising approximately 47 acres in Columbus, Ohio. The property offers exceptional scale, access, and visibility for future development. Strategically located with connectivity to I-270, downtown Columbus, and the Rickenbacker logistics corridor, the site is positioned within one of Central Ohio’s strongest growth corridors.

This property holds residential development potential, creating a compelling opportunity for developers exploring residential, mixed-use, or alternative redevelopment concepts, subject to zoning and approvals. Historically operated as a clean hard fill site, the property offers significant value-add and repositioning upside, supported by completed environmental due diligence, including Phase I and Phase II assessments. The site may also present opportunities for purchasers to explore redevelopment incentives and public-private tools, including potential Brownfield remediation grants, Community Reinvestment Area (CRA) tax incentives, Low-Income Housing Tax Credits (LIHTC), Opportunity Zone (OZ) benefits, and other local, state, or federal programs, subject to buyer underwriting and agency approvals. With substantial scale, infrastructure considerations, and potential incentive layering, this is a unique opportunity to acquire and reposition a sizeable infill tract in a supply-constrained market.

Investment highlights

Approximately 47-acre infill redevelopment opportunity in Columbus, Ohio

Strategic location with access to I-270, Downtown Columbus, and the Rickenbacker Inland Port

Potential residential redevelopment supported by available sewer capacity

Significant value-add and repositioning opportunity through redevelopment or adaptive reuse

Completed Phase I and Phase II environmental assessments available for review

Potential eligibility for Brownfield remediation incentives and grants

Located in an Opportunity Zone with potential tax advantages

Potential access to Community Reinvestment Area (CRA) incentives

Potential applicability for Low-Income Housing Tax Credits (LIHTC) for qualified housing developments

Rare large-scale infill tract in a supply-constrained Central Ohio market

Flexible future use potential including residential, mixed-use, industrial outdoor storage, or other concepts subject to approvals

Opportunity to leverage public-private incentive layering to enhance project economics

Positioned within one of the Midwest’s strongest population and employment growth markets

Existing site remediation and redevelopment pathway may offer upside for experienced developers

Listing Contacts

SO
OH 2022005236
Parker Realty Associates
Listed by Parker Realty Associates

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Additional Information

Name
Steven Osborn
License
2022005236
Brokerage Phone
6143574320
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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