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Hammes Acquires Medical Office In Reynoldsburg For $22.8M
SOLD
$22,800,000
Medical Office62,000 SF
Sold 05/21/2024
SOLD
Hammes Acquires Medical Office In Reynoldsburg For $22.8M
8050 East Main Street
See Similar DealsMedical Office62,000 SF
Sold 05/21/2024
Summary
OHIO
Asset Type:Medical Office
Price Per Square Foot:$367
Total Square Footage:62,000 SF
Transaction Type:Sale
A 62,000-square-foot medical office building located at 8050 East Main Street in Reynoldsburg, Ohio, was recently acquired for $22.8 million. The property includes laboratory and testing facilities and was sold for $367.74 per square foot.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $22,800,000
- Address: 8050 East Main Street
- Market: Reynoldsburg
- Acres: 5
- Buyer: Jon Hammes - Hammes
- Square Footage: 62,000
- Price per Square Foot: $368
Hammes, a Milwaukee-based company, acted as the buyer in the transaction. They acquired the medical office building from a group of physician investors. The property, situated 14 miles east of Columbus, Ohio, adds to the company's portfolio with its specialized medical facilities.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,216,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,003.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$108,083.63
Annual Debt Service$1,297,003.58
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