441 East Mound Street Listing Details & Market Data

Located in the Downtown Columbus area, only minutes to the I-70 and I-71 freeways with easy on and off ramps. 441 E Mound is located on a busy road with ±11,209 vehicles per day.This 1,138 SF creative office space is ideally suited for various downtown office or retail purposes, showcasing modern aesthetics and exceptional functionality. Conveniently accessible from the Mound St exit, the property benefits from a traffic count of approximately ±11,209 vehicles per day. The sales comparison approach is defined as: “the process of deriving a value indication for the subject property by comparing similar properties that have recently sold with the property being appraised, identifying appropriate buildings of comparison, and making adjustments to the sale prices of the comparable properties based on relevant, market-derived elements of comparison.” This approach to value is based on the principle of substitution, which states that the value of a property is determined by the price a potential buyer would pay to acquire a substitute property of equal desirability. The six (6) comparable sales based on a Per Square Foot basis included in this analysis are considered to represent viable alternative properties for initial analysis. The sale price per square foot for the comparables ranges from a low of $57.20/SF to a high of $124.53/SF, with an average of $92/SF. It is to be expected that buyers in the market will make adjustments for the subject property based its ideal location, its current renovated condition, minimal available options, and being fully leased. If this site is conducive to a buyer's operation than additional value will be placed. For these reasons, we could justify of value range of approximately $1,550,000 based on current proforma and comparable Sales. For an owner Occupant or retail use this building could be marketed around 1,750,000. Highlighting the included parking lot, potential roof deck, and occupied lower level. The nearby developments in the downtown corridor and rare opportunity give this site a wide range at this evaluation stage.This 1,480 SF creative office/studio space is ideally suited for various downtown office or retail purposes, showcasing modern aesthetics and exceptional functionality. Conveniently accessible from the Mound St exit, the property benefits from a traffic count of approximately ±11,209 vehicles per day.