NOT LISTED FOR SALE

1550 Sheridan Dr Lancaster, OH 43130

-- Bed
-- Bath
40,000 Sq Ft
6,970 Sq Ft Lot

Last Sold September 30, 2024

Last sale price $3,600,000 $90 Per Sq Ft

188 Days on Market

About This Home

As of September 2024

INVESTMENT OPPORTUNITY with this income producing property.

40,000 SF multi-tenant Medical office Condominium building on over 2 acres with parking lot (200 spaces), green space and access road.

Most Suites are on long-term leases. Only two Suites are vacant representing 3000 sf. A Buyer/Owner opportunity to have their own space within the building.

Office Suites have their own parcel number and are taxed separately. Suites range from 1482-1620 sf. with one exception. The largest Suite is 6877 sf.

Net Operating Income is $289,555.

Last Agent to Sell the Property

Sherry Orlando

RE/MAX ONE License #2018005368 Listed on: 06/07/2023

RE/MAX ONE

Last Buyer's Agent

NON MEMBER

NON MEMBER OFFICE

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $52,729

Year Built

  • Built in 1972

Lot Details

  • 6,970

Parking

  • 200 Parking Spaces

Home Design

  • 40,000 Sq Ft Home
  • Metal Construction or Metal Frame

Additional Features

  • Additional Parcels
  • Forced Air Heating System

Community Details

  • Operating Expense $149,948
  • Gross Income $439,503
  • Net Operating Income $289,555

Listing and Financial Details

  • Tenant pays for all utilities
  • The owner pays for repairs
  • Assessor Parcel Number 05-34198-000

Property Details

Home Type

Condominium

Est. Annual Taxes

$52,729

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Type: Office
  • Year Built: 1972
  • Tax Year: 2022
  • Property Sub-Type: Condominium
  • Lot Size Acres: 0.16
  • Total Gross Income: 439503.0
  • Co List Office Phone: 614-729-7555
  • MLS Status: Closed
  • Subdivision Name: Colonnade Medical Office Building
  • Reso Structure Type: Multi Tenant
  • Income Expenses Gross Income: 439503.0
  • Annual Expenses: 149948.0
  • Services Available Storm Sewer: Yes
  • Heat Type Forced Air2: Yes
  • General Property Info Building Sqft2: 40000.0
  • Heat Fuel Electric4: Yes
  • Services Available Electricity Available: Yes
  • Services Available Water Available: Yes
  • Services Available Sewer Available: Yes
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 0

Exterior Features

  • Construction:Metal: Yes

Garage/Parking

  • Total Parking Spaces: 200.0

Utilities

  • Heating: Forced Air
  • Utilities: Water Available, Sewer Available, Electricity Available, Storm Sewer

Lot Info

  • Parcel Number: 05-34198-000
  • Lot Size Sq Ft: 6969.6
  • Additional Parcels Description: 22 Total Parcels. Medical Office Building, parcels #0534198000, 0534198000, 0534198100, 0534198200, 0534198300, 0534198400, 0534198500, 0534198600, 0534198700, 0534198800, 0534198900, 0534199000, 0534199100, 0534199200, 0534199300, 0534199400, 0534199500, 0534199600 and 0534199700. Vacant Land, parcel # 534202900. Parking Lot, parcel # 534203000, and Access Road, parcel # 534203100
  • Additional Parcels: Yes

Rental Info

  • Tenant Pays: All Utilities
  • Owner Pays: Repairs

Multi Family

  • Net Operating Income: 289555.0
  • Annual Operating Expense: 149948.0

Tax Info

  • Tax Annual Amount: 52729.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 7, 2023
Closed on
Sep 30, 2024
Sold by
Colonnade Mob Llc
Bought by
Fairfield County Ohio Board Of County Commiss
Seller's Agent
Sherry Orlando
RE/MAX ONE
Buyer's Agent
NON MEMBER
NON MEMBER OFFICE
List Price
$4,300,000
Sold Price
$3,600,000
Premium/Discount to List
-$700,000
-16.28%
Views
2

Purchase Details

Closed on
Aug 7, 2000
Sold by
Colonnade Medical Center
Bought by
Mackenzie Robert J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,980,000
Interest Rate
8.19%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Fairfield County Ohio Board Of County Commiss -- None Listed On Document
Mackenzie Robert J $2,471,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mackenzie Robert J $1,980,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/30/2024 09/30/24 Sold $3,600,000 -8.9% $90 / Sq Ft
10/27/2023 10/27/23 Price Changed $3,950,000 -8.1% $99 / Sq Ft
06/07/2023 06/07/23 For Sale $4,300,000 -- $108 / Sq Ft
Source: Columbus and Central Ohio Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $15,064 $167,560 $16,800 $150,760
2023 $8,522 $167,560 $16,800 $150,760
2022 $7,976 $155,520 $16,800 $138,720
2021 $8,202 $155,520 $16,800 $138,720
2020 $7,931 $155,520 $16,800 $138,720
2019 $7,615 $155,520 $16,800 $138,720
2018 $8,142 $170,320 $16,800 $153,520
2017 $8,121 $170,320 $16,800 $153,520
2016 $7,846 $170,320 $16,800 $153,520
2015 $7,924 $170,320 $16,800 $153,520
2014 $7,574 $170,320 $16,800 $153,520
2013 $7,574 $170,320 $16,800 $153,520
Source: Public Records

Agents Affiliated with this Home

  • Sherry Orlando

    Seller's Agent in 2024

    Sherry Orlando

    RE/MAX

    (740) 974-6916

    44 in this area

    64 Total Sales

    Sherry Orlando
    Section Image

  • N

    Buyer's Agent in 2024

    NON MEMBER

    NON MEMBER OFFICE

See All Agents

Map

Source: Columbus and Central Ohio Regional MLS

MLS Number: 223017164

Columbus and Central Ohio Regional MLS

APN: 05-34198-000

Ohio Fairfield County Lancaster 43130

1550 Sheridan Dr, Lancaster, OH

This home is located at 1550 Sheridan Dr, Lancaster, OH 43130 since 07 June 2023. This property was built in 1972. 1550 Sheridan Dr is a home located in Fairfield County with nearby schools including Medill Elementary School, Thomas Ewing Junior High School, and Lancaster High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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