4485 Northland Ridge BlvdColumbus, OH 43224

This exceptional investment opportunity presents a fee-simple ownership interest in a 320,000 square foot, three-story executive office building located at 4485 Northland Ridge Blvd, Columbus, OH 43224. Currently serving as the headquarters for the Ohio Department of Taxation, this stabilized property boasts a 100% occupancy rate with a credit-rated tenant under a gross lease. The existing lease, commencing January 1, 2025, and expiring June 30, 2037, includes a 12.5-year term with six two-year renewal options, each featuring a 3% rent increase. The asking price is $30,888,000, representing a compelling $96.52 per square foot and a 9.40% cap rate based on a Net Operating Income (NOI) of $2,903,497. The property sits on a 10.88-acre lot and includes 1,000 parking spaces. The building underwent a complete redevelopment in 2004 and is situated in a C-4 zoned area, offering significant growth potential. As part of the new lease agreement, the owner will complete substantial improvements, including exterior and interior cleaning, parking lot repairs, concrete repairs, lighting and bollard replacements, and roof repairs and replacements. The property's strategic location near other government agencies and the upcoming Intel investment further enhances its value. This is a mission-critical investment with strong fundamentals and a long-term, secure lease.