100% LEASED MEDICAL / OFFICE INVESTMENT | DUBLIN, OHIO · the information contained herein....
Transcript of 100% LEASED MEDICAL / OFFICE INVESTMENT | DUBLIN, OHIO · the information contained herein....
Office Brokerage Group Non-Financial Sales Package
100% LEASED MEDICAL / OFFICE INVESTMENT | DUBLIN, OHIO
ohioequities.com | 2
NAI Ohio Equities, LLC (“The Agent”) has been engaged by Lupo LLC (“Seller”) for the sale of their property located at 6740-6770 Avery-Muirfield Drive, Dublin, OH 43017 (“The Property”).
The Property is being offered for sale in an “as-is, where is” condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principle provisions contained herein. Neither Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or made available or any action taken or decision made by the recipient with respect to the Properties. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein.
Seller reserves the right, at its sole and absolute discretion, to withdraw The Propery from sale consideration at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding The Property and/or terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawl from the market without notice. Agent is not authorized to make any representations or agreements on behalf of the Seller.
The terms and conditions set forth above apply to this Non-Financial Sales Package in its entirety.
Disclaim
er
You are viewing the non-financial sales package for 6740-6770 Avery-Muirfield Drive. In order to view the full
confidential offering memorandum please sign the confidentiality agreement online at www.Avery-Muirfield.com.
ohioequities.com | 3
I. Transaction Guidelines
II. Executive Summary
III. Investment Highlights
IV. Aerial Maps
V. Property Photographs
VI. Location Map
VII. The City of Dublin
VIII. Dublin Physicians & Health Care - Map
IX. Demographics & Traffic Counts
Transaction Contacts
www.Avery-Muirfield.com
Andy Dutcher, SIOR Vice President Office 614.629.5266 | Cell [email protected]
Matt Gregory, SIOR, CCIM Senior Vice President Office 614.629.5234 | Cell 614.937.6501
Philip Bird Associate Vice PresidentOffice 614.629.5296 | Cell [email protected]
Table of Contents
ohioequities.com | 4
NAI Ohio Equities has been retained on an exclusive basis to sell 6740-6770 Avery-Muirfield Drive in Dublin, Ohio. This four-building, multi-tenant medical and general office complex totals 19,872 square feet and is 100% leased to a diverse mix of tenants which includes: Ortho Neuro, Spring Creek Fertility, ProScan, Avery Dental Center, Hyperbaric Therapy of Dublin, Complete Chiropractic, Arenstein & Anderson LPA, and Horan Associates. The asset’s location at Avery-Muirfield Drive and Post Road is considered one of the best in the sub-market along with its close proximity to Dublin Methodist Hospital, affluent neighborhoods, numerous retail amenities, and convenient access to all major freeway systems throughout the Columbus area.
The Opportunity
Asking Price $3,100,000.00
Net Operating Income $208,025.17
Parcel ID 273-000299
City | Township Dublin | Washington
Year Built 2000/2001
Building Area 19,872 SF
Total Buildings Four (4)
Total Tenants Eight (8)
Parking 92 Spaces (4.6/1,000 SF Ratio)
ConstructionThe structures are single-story, brick with stone accent walls with reinforced concrete footer and slab foundation and asphalt shingle roof.
Zoning PCD (Planned Commerce District) - Medical/Office Use
6740-6770 Avery-Muirfield Drive, Dublin, OH 43017
Executive S
umm
ary
6740 Avery-Muirfield Dr. 6750 Avery-Muirfield Dr.
6760 Avery-Muirfield Dr. 6770 Avery-Muirfield Dr.
ohioequities.com | 6
Avery-Muirfield Drive offers a variety of value to its future investor. The upside potential includes but is not
limited to some of the following:
Investment HighlightsAvery-M
uirfield Drive
Discount to Replacement Cost – This is an unmatched opportunity to acquire a first class suburban
office complex at a significant discount to replacement cost. Replacement costs for assets of
similar size, location, construction and features would be approximately $175 per square foot.
Stable Cash Flow with Strong Tenant Roster – This asset offers a diversified mix of national,
regional, and local medical and general office tenants with the average lease term remaining of
approximately 37 months. The net operating income is projected to increase by approximately 3%
year over year.
Upside in Rental Rates – The current rental rates within the complex are considered at or below
market, allowing for significant value enhancement upon lease renewal of existing tenants, or
through new leases in the open market.
ohioequities.com | 7
Avery-Muirfield D
riveAerials
Aerial - Nearby Retailers
Red outline is shown for illustration purposes only and Buyer should rely on its own investigation of the property.
Subject Property
ohioequities.com | 10
Market O
verviewThe City of Dublin
Dublin is one of Columbus’ largest and most established
suburbs. It’s known within Central Ohio for excellent
schools, miles of recreations paths, parks, gorgeous neigh-
borhoods, dynamic community life, and an evolving his-
toric downtown district. Nationally, it’s renowned as home
to the Dublin Irish Festival, the largest three-day Irish
cultural celebration in the county. The city shows its com-
mitment to the future with the developing Bridge Street
District, an urban, walkable corridor with entertainment,
dining, shopping, office space, and housing options. Dublin
is home to Jack Nicklaus’ Muirfield Village Golf Club and
its annual Memorial Tournament.
Dublin is situated across Franklin, Delaware, and Union
counties, is directly accessible by US 33/SR 161 and I-270,
and is approximately a 20 minute drive to downtown Co-
lumbus. The total area of the city is 24.80 square miles
with a population of approximately 47,000 people in 2010.
The area is home to more than 3,000 companies including
a number of Fortune 100, 500, and 1,000 companies, such
as, Cardinal Health, OhioHealth, and
Wendy’s.
For more information visit: www.dublinohiousa.gov
DemographicsPopulation: ±47,000
Average Home Price: $340,307
Median Household Income: $110,764
Education: 78% of residents have bachelor’s degree or higher
Bridge Street District
Dublin Irish Festival
Muirfield Village Golf Club
ohioequities.com | 11
Avery-Muirfield D
riveDublin Physicians & Health Care - Map
AHF Ohio, Inc., dba The Sanctuary at Tuttle Crossing
Alix ChiroRehab
Arndt Family Chiropractic
Associated Orthodontics, Inc.
Avery Dental Center
Bauer & Nemcik, Family Dentists, Inc.
Buckeye Clinic
Capital Endodontics
Capital Health Home Care
Capital Health Home Care Concierge
Cardinal Health, Inc.
Caregiver USA Corp
Center for Cognitive & Behavioral Therapy
Central Ohio Endodontics
Clinix Healthcare
Colon and Rectal Surgery, Inc.
Columbus Institute of Plastic Surgery, The
Columbus Ophthalmology Assoc., LLC
Columbus Springs Dublin
Comfort Keepers
Decillion Healthcare
Dental Reflections Dublin
Dermatologists of Greater Columbus, LLC
Dermatology and Cosmetic Surgery of Dublin, Inc.
Distinctive Smiles of Dublin
Doctors Consulting Service, Inc.
Dopkiss Eyecare
Dorner Plastic Surgery
Dublin Dental Associates
Dublin Dental Care
Dublin Family Care, Inc.
Dublin Foot & Ankle
Dublin Metro Dental Group
Edwards Family Dental
Emerald EyeCare, LLC
Emerald Obstetrics & Gynecology
Emerald Pediatrics
Flourish Chiropractic
Ford Family Dental
Foundation Chiropractic, P.C.
Friendship at Home
Haid Dental Associates
Hand In Hand Pediatrics
Haring Pediatric Dental
Heartland of Dublin
Hinkle Dental Arts
Hutta & Cook Orthodontics
IKOR of Columbus
James M. Lapierre DDS, Inc.
Jennifer J. Miller, DDS - Dentistry of Dublin
Karpac, DDS, MA, MS, James R.
Kenneth D. Boltz, OD, LLC
Kowalski Chiropractic and Wellness
Laboratory Corp. of America Holdings
Lentechs LLC
Low T Center
McGloshen, Thomas H. Ph.D.
MDVIP-Drs. Osborn and Im
Medication Therapy Management Solutions, LLC
Nationwide Children’s Dublin Close to Home - Hospital Dr.
Nationwide Children’s Dublin Close to Home - Venture Dr.
Nationwide Children’s Hospital
Neurosurgery Associates
NovaCare Rehabilitation - Dublin
NxStage Kidney Care Columbus
Ohio Cosmetic Dentists
Ohio Sinus Institute
Ohio University Dublin - College of Health Sciences and Professions
OhioHealth Dublin Methodist Hospital
Omnilife Systems, Inc.
Orthopedic Foot & Ankle Center
Orthopedic ONE
OSU Sports Medicine at Dublin
Passionate Wellness by Abby
Pearle Vision
Perimeter Dental Group
Plain City Druggist
Premier Allergy
Rinkov Eyecare Center
River Park Dental
River’s Edge Pediatrics, Inc.
Sarnova
Schneider Family Dental
Shamrock Family Eyecare
Smile Doctors Braces by Trio Orthodontics
Smiley Dental Group
Smith’s Medical
Solis Mammography - Dublin
Step Lively Foot & Ankle Centers
Stoner Periodontic Specialists
Summerhill Family Medicine, Inc.
Syntero, Inc.
THE GRAND of Dublin
The Ohio State University Havener Eye Institute
True North Counseling Group
ViaQuest, Inc.
Vitas Healthcare
Winchester Institute, The
https://www.dublinchamber.org/map/ql/health-care
Subject Property
ohioequities.com | 12
Market O
verviewDemographics & Traffic Counts
Population 1 mile 3 miles 5 miles
Estimated Population (2018) 5,962 45,510 135,722
Projected Population (2023) 6,316 48,206 143,541
Median Age 35.4 36.4 35.3
Households 1 mile 3 miles 5 miles
Estimated Households (2018) 2,137 17,095 53,253
Projected Households (2023) 2,256 18,016 56,077
Avg. Household Income (2018)
$154,399 $167,853 $134,212
Per Capita Income (2018) $55,383 $63,067 $52,688
Avg. House Value (2015) $266,610 $298,630 $269,564
Education 1 mile 3 miles 5 miles
HS Graduate 6.7% 8.7% 13.2%
Some College 12.9% 11.4% 15.0%
Associate Degree Only 6.0% 6.2% 6.8%
Bachelor Degree Only 43.0% 42.3% 38.1%
Graduate Degree 30.0% 29.6% 23.7%