572 Industrial Pky - Medical CONDO FOR SALE


Heath, OH 43056 | 
$1,350,000 USD
614-334-7786
572 Industrial Pky, Heath, OH for Sale
$1,350,000 USD
Medical CONDO - FOR SALE
1/2
null | Request Cap Rate

572 Industrial Pky
Heath, OH 43056


HIGHLIGHTS

  • Outperformed both its peer set and the submarket on occupancy for six consecutive years.
  • Its in-place rent sits roughly 20% below the Licking County average asking rate.
  • Even after the July 2027 step, in-place rent remains roughly $3.00/SF below peer asking rent and $5.55/SF below the Licking County average.

OVERVIEW

Equity is exclusively retained to offer the fee simple interest in 572 Industrial Parkway. The tenant has occupied the building since the original lease dated December 14, 2016 and recommitted on July 1, 2022 under a ten-year amended and restated lease. The tenant pays real estate taxes directly and reimburses fire and extended coverage premiums; the landlord retains roof, structure and exterior obligations. A $7,083.33 security deposit is held, and the tenant recently invested more than $60,000 in interior renovations and new signage. The property is three condominiums; this lease covers 79.18% of the total building GLA.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$296 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

5,763 SF

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

030-089022-01.002,030-089022-01.003,030-089022-01.004

ASK ABOUT THIS PROPERTY

Aaron HeathEquity, LLCMore Info
614-334-7786

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Aaron HeathEquity, LLCMore Info
614-334-7786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.