Main Street Flats
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Main Street Flats
4 Properties in Reynoldsburg, OH
Investment Highlights
- Revenue growth opportunity.
- Located in a irreplaceable location.
Executive Summary
Main Street Flats is a mixed-use property located in the heart of Downtown Reynoldsburg, featuring a total of 20 apartment units with 2 commercial storefronts along East Main Street. A true value-add opportunity in a highly desirable submarket of Columbus, OH.
Current rents are on average $250-$300 below in-place rents at comparable properties. The property is projected to deliver strong cash flow and effective gross revenue is projected to increase year over year once the value-add business plan is executed, and the asset stabilized.
Main Street Flats is situated in one of the most desirable neighborhoods in the area. Additionally, the property is poised to benefit from the continued capital investment in the submarket.
The infusion of capital to complete significant improvements, both exterior and interior upgrades. If executed properly, a new owner should be able to complete renovations within the first 12-18 months of ownership, therefore increasing the monthly gross potential rent by 53% above in-place and by more than $130,000 annualized.
http://properties.greysteel.com/1307338-sale?=undefined&safari-private=false
Current rents are on average $250-$300 below in-place rents at comparable properties. The property is projected to deliver strong cash flow and effective gross revenue is projected to increase year over year once the value-add business plan is executed, and the asset stabilized.
Main Street Flats is situated in one of the most desirable neighborhoods in the area. Additionally, the property is poised to benefit from the continued capital investment in the submarket.
The infusion of capital to complete significant improvements, both exterior and interior upgrades. If executed properly, a new owner should be able to complete renovations within the first 12-18 months of ownership, therefore increasing the monthly gross potential rent by 53% above in-place and by more than $130,000 annualized.
http://properties.greysteel.com/1307338-sale?=undefined&safari-private=false
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Under Contract | Total Building Size | 15,759 SF |
| Number of Properties | 4 | Total Land Area | 0.95 AC |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 15,759 SF |
| Total Land Area | 0.95 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 7374 E Main St, Reynoldsburg, OH 43068 | Multifamily | 3,318 SF | 1955 | - |
| 7382 E Main St, Reynoldsburg, OH 43068 | Multifamily | 10,331 SF | 1959 | - |
| 7382 E Main St, Reynoldsburg, OH 43068 | Retail | 795 SF | 1959 | - |
| 7374 E Main St, Reynoldsburg, OH 43068 | Office | 1,315 SF | 1955 | - |
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Main Street Flats
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