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32377501
32377470

580 South High Street, Columbus, OH 43215

SW
OH 321199
The Robert Weiler Company
Listed by The Robert Weiler Company
$5,900,000
29 days on market
Updated 17 days ago

580 South High Street

Details
Property Type Office
Sub Type Traditional Office
Square Footage 78,848
Cap Rate 7.5%
NOI $442,298
Occupancy 92.7%
Pro-Forma Cap Rate 10.52%
Pro-Forma NOI $620,762
Price per SqFt $75
Year Built 1979
Stories 3
Acreage 0.810
Zoning UCR

MODERN OFFICE BUILDING FOR SALE!

Marketing description

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.

Investment highlights

  • 580 S High St | German Village Office Opportunity
  • 3 stories of office space (~60,000 RSF total)
  • 1 level: parking garage with 43 covered spaces and 27 surface visitor spaces
  • 1 below-grade gated parking garage with 97 covered spaces
  • Iconic location with skyline views

Listing Contacts

SW
OH 321199
The Robert Weiler Company
Listed by The Robert Weiler Company

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$442,298.34
$36,858.20/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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Additional Information

Name
Skip Weiler
License
321199
Brokerage
The Robert Weiler Company
Brokerage Phone
6142214286
Title
Broker/President
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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