Tim Bishop's Iconic Equities Acquires Industrial Outdoor Storage In Columbus, Ohio For $5.5M
2201 Advance Avenue
$5,515,000
$97/SF
Building Size
56,783 SF
Asset Type
Industrial
Closing
Oct 14, 2022
AI
The Industrial Outdoor Storage (IOS) property located at 2201 Advance Ave in Columbus, Ohio has been sold for a price of $5,515,000. The property spans a total area of 56,783 square feet and is situated on 15 acres. The sale was completed on October 14, 2022.
Summary of transaction details
- Property Type: Industrial Outdoor Storage (IOS)
- Transaction Amount: $5,515,000
- Address: 2201 Advance Ave, Columbus, Ohio
- Market: Columbus, Ohio
- Buyer: Tim Bishop - Iconic Equities
- Seller: JB Leasing, LLC & Weber Holdings-Buckeye LLC
- Brokers: Nicholas Tomasone & Joe Davis - JLL
This acquisition is part of Iconic Equities' $400 million Industrial Outdoor Storage (IOS) programmatic venture. The successful completion of this transaction was facilitated by the brokers Nicholas Tomasone and Joe Davis from JLL.
Players
Columbus Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93