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Tim Bishop's Iconic Equities Acquires Industrial Outdoor Storage In Columbus, Ohio For $5.5M

Property Image
SOLD
$5,515,000
Nicholas Tomasone
Joe Davis
Tim Bishop

Ohio

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Industrial56,783 SF
Sold 10/14/2022
the dealplayerscompscontact
Property Image
SOLD

Tim Bishop's Iconic Equities Acquires Industrial Outdoor Storage In Columbus, Ohio For $5.5M

2201 Advance Avenue

See Similar Deals
Industrial56,783 SF
Sold 10/14/2022
Nicholas Tomasone
Joe Davis
Tim Bishop
the dealplayerscompscontact
Contact now

Summary

OHIO
Asset Type:Industrial
Price Per Square Foot:$97
Total Square Footage:56,783 SF
Transaction Type:Sale

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

Nicholas Tomasone
JLL
Nicholas Tomasone
3 deals$26.5M volume
BROKER
Joe Davis
JLL
Joe Davis
1 deal$5.5M volume
BROKER
Tim Bishop
Tim Bishop
6 deals$118.9M volume
BUYER

Details

SOLD
IMAGE: Tim Bishop DATE: 10/14/2022 ADDRESS: 2201 Advance Ave MARKET: Columbus, Ohio ASSET TYPE: Industrial Outdoor Storage (IOS) BUYER: Tim Bishop (@TimBishopOfficial) - Iconic Equities (@IconicEquities) SELLER: JB Leasing, LLC & Weber Holdings-Buckeye LLC BROKERS: Nicholas Tomasone & Joe Davis - JLL (@JLL) SALE PRICE: $5,515,000 SF: 56,783 ACRES: 15 NOTE FROM BROKERS: This acquisition is a part of Iconic Equities’ $400 million Industrial Outdoor Storage (IOS) programmatic venture.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$294,133.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,593.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,143.91
Annual Debt Service$313,726.96