7716-7720 Rivers Edge Drive

7720 Rivers Edge Dr, Columbus, OH 43235, USA
$3,495,000

Overview

Colliers International, on behalf of the Owner, is pleased to present an opportunity for an investor to purchase 7720 Rivers Edge, which is a two-story, 30,209 SF Class A suburban office building that has recently been significantly updated by the current ownership. The building is currently 97% occupied with a weighted average lease term of 3.8 years. The property is prominently located in the bustling Worthington submarket. The current ownership recently stabilized the building by completing an extensive renovation and also increased the occupancy by approximately 30%.

The future building owner will benefit from a strong in-place cash flow stream while also being well positioned for additional upside. The in-place rent is 7% below conservative current market rates providing significant upside potential for the future building ownership.

The building is being offered for sale for $3,495,000 ($115 PSF) which equates to an 8.6% acquisition cap rate.

Investment Highlights

  • Diversified Stable Rent Roll
  • Mark to Market Potential
  • Significant Leasing Momentum
  • Strong Market Fundamentals
  • Marquee Location

Detail

  • Property Size: 30,209 Square Feet
  • Address: 7720 Rivers Edge Drive
  • City: Worthington
  • Submarket: Polaris/North