Iconic Equities Acquires Industrial Property In Columbus, Ohio For $12.7M
SOLD
$12,700,000
Industrial316,266 SF
Sold 03/29/2023
SOLD
Iconic Equities Acquires Industrial Property In Columbus, Ohio For $12.7M
3275 Alum Creek Drive
See Similar DealsIndustrial316,266 SF
Sold 03/29/2023
Summary
OHIO
Asset Type:Industrial
Price Per Square Foot:$40
Total Square Footage:316,266 SF
Transaction Type:Sale
A 316,266 square foot industrial property located at 3275 Alum Creek Drive in Columbus, Ohio has been sold for $12,700,000. The buyer, Tim Bishop, represented by Iconic Equities, a Miami-based company, acquired the property from the seller, Todd Davis of TTDB. The sale price equates to a price per square foot of $40.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,700,000
- Address: 3275 Alum Creek Drive, Columbus, Ohio
- Market: Columbus, Ohio
- Buyer: Tim Bishop - Iconic Equities
- Seller: Todd Davis - TTDB
- Broker: Derek Lichtfuss - Newmark
This acquisition marks Iconic Equities' second purchase in Columbus within the last six months. The deal was facilitated by Derek Lichtfuss of Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$677,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,120.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,204.48
Annual Debt Service$722,453.75
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