3099 Sullivant AveColumbus, OH 43204

Property Details for 3099 Sullivant Ave

Year built

1954

Construction

WOOD

Lot size

0.20 AC

Property size (Sq ft)

4,980 SF

Property type

Office buildings

APN

010-034185

APU

10034185

Description

This exceptional 4,980 square foot multi-use building presents a fantastic investment opportunity in a rapidly redeveloping area of Columbus, Ohio. Located at 3099 Sullivant Avenue, this property boasts a prime location with excellent visibility. Built in 1954 and extensively renovated in 2021, the building is in excellent condition and meets all current building codes. Recent upgrades include two new furnaces, two new air conditioning units, a new parking lot, two renovated bathrooms, electrical upgrades, a new security system, a remodeled kitchenette, and new carpeting throughout. The lower level is currently rented month-to-month to long-term tenants at $2,750 per month, offering immediate income potential. While the tenants are keen to remain, the space can be vacated if desired. The upper level is currently vacant and ready for immediate occupancy or new tenants. The 7,405.2 square foot lot provides ample space. The asking price is $424,999, translating to $85.34 per square foot. This rare, large multi-use building offers endless possibilities for a variety of uses and represents a unique opportunity in a thriving Columbus neighborhood. The property's recent renovations and strong rental income potential make it an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $951,617

  6.5%

  $878,416

  7%

  $815,672

• Comparable approach

  Method

  Valuation

  Relative Method

  $465,829

  Geo Method

  $465,829

• Alternative Use

  Use

  Valuation

  Residential

  $1,089,236

  Hospitality

  $997,734

  Educational

  $830,103

  Medical

  $858,652

  Retail

  $1,291,272

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.943

Longitude

-83.0815

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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