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.