A beautiful multi-tenant property located near Upper Arlington and Dublin, 4100 Horizons Drive is an ideal property for an owner/occupant. Currently, the property is 75 percent occupied, with a total of five tenants on the property. This mix of national and regional tenants will allow an owner/occupant investor to build equity while also maintaining rental income and potentially expanding into other tenant spaces as desired. The property is primarily suitable for office spaces, with a total of 31,512 rentable square feet and 7,705 square feet currently vacant.
The Perfect Opportunity for an Owner/Occupant
An attractive, well-maintained two-story professional building, 4100 Horizons Drive includes 114 parking spaces and easy access along SR 161, I-270 and SR 315. The building itself was constructed in 2002 and features large signage and an attractive brick exterior. Although this property can be purchased with the intention of renting out the vacant space, it is the perfect opportunity for an owner/occupant. Owner-occupied commercial real estate provides for additional loan options and benefits.
With tenants already in place, the purchase of this property will immediately start bringing income to the new owner, which can be used to offset his or her own business costs. A new owner/occupant can then choose to renew or quit leases as they come to term, either expanding into new spaces or continuing to bring in rental income. The Upper Arlington and Dublin areas are full of professionals and businesses, making the building extremely attractive to prospective tenants, ensuring that rental income can be maintained for the foreseeable future. The attractive exterior, desirable location and relatively new structure of the building will command premium rental prices for commercial tenants in the area.
Owner Occupancy and the SBA 504 Loan Option
The SBA 504 Loan Option allows for the purchase of an owner-occupied commercial space with financing up to 90 percent down. Intended for small business owners, this 20-year fully-amortized financing option allows small business owners to immediately hold equity within their business space at extremely low interest rates. Multiple small businesses can also qualify for an SBA 504 loan together if they decide to form a real estate holding company, which can be beneficial for companies that are in related fields. The SBA 504 loan can be further used for build-outs and improvements in addition to the property cost.
If you’re interested in 4100 Horizons Drive — or a similar commercial real estate property — contact us today. Our experienced real estate agents can discuss both the property and your financing options. We have a wide inventory of owner/occupant and investor properties, ranging from small commercial locations to expansive developments. Let us know what you’re looking for and we can handle the rest! Brad Kitchen, President, Alterra Real Estate 614.545.2155