3021 N. High Street – Multifamily Land Development Opportunity

3021 N. High Street, Columbus, OH 43202
$1,200,000

Description

Brown Multifamily Advisors is pleased to offer for sale a 0.45 acre development site located at 3013-3021 N. High Street in the north Columbus neighborhood of Clintonville.  This is a rare opportunity to acquire a fully-entitled site with all city approvals secured for the construction of a multifamily property in a thriving, urban location.

The current owner has conducted all necessary environmental, geotechnical and traffic/parking investigations and secured the proper zoning and variances to develop a five-story, 45-unit multifamily property with 2,000 SF of ground floor commercial space and 28 surface parking spaces.  Preliminary development plans have been created by Berardi + Partners.  The property is comprised of three parcels with a total annual tax assessment of $7,776.

The site is currently leased to a used car dealership whose lease runs through May 2025 after which it becomes MTM.  Monthly rent is $3,229 with a slight increase in May 2024.  Tenant pays all operating expenses except RE taxes.  Either party can terminate the lease early with applicable notice and breakage fees.  The only improvement currently on the site is a 1,218 SF former auto repair building now used as a car sales office.

We look forward to discussing this exciting investment opportunity of an outstanding, turnkey multifamily development site that is construction-ready for the next owner.

Detail

Updated on April 2, 2024 at 9:15 am

  • Property ID: 10076
  • Price: $1,200,000
  • Property Type: Land
  • Property Status: Recently Sold

Additional details

  • Acreage: 0.45
  • Address: 3021 N. High Street
  • City: Columbus
  • State/county: Ohio
  • Zip/Postal Code: 43202
  • Country: United States

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