Updated Flex
For Sale
$2,200,000
6150 Avery Road, Dublin, OH 43016
Industrial, Dublin, OH
Property Size7,000 SF
Lot Size3.35 Acres
Price / SF$314.29
Days on Market46
Property Features for 6150 Avery Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Technology Flex
Standard status
Active
APN
274-000105
Size
7,000 SF
Lot size
3.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
35817
Utilities
Utilities
Water Available
Heating system
Forced Air
Water source
Public
Amenities
new flooring
LED lighting
updated HVAC
heated roof
10' drive-in door
24'x12' shed
fabrication room with 3-phase electric
Building Details
Year built
1977
Floors in Building
1
Listing Agency:
Cutler Real Estate
(614) 339-4664
Listed By:
Kim Christensen · License #2020001767
(740) 616-5500
Added: Aug 11
Changed: Sep 25
Last Checked: Sep 25 at 5:06AM
MLS# 226030394
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 6150 Avery Road in Dublin, Ohio, this 7,000-square-foot flex property combines office and warehouse functionality on a 3.35-acre lot. Improvements include new flooring, LED fixtures, updated HVAC, a heated roof, and a 10-foot drive-in door. The fabrication room is equipped with 3-phase electric, while a 24' x 12' shed provides additional storage. The site includes 20 parking spaces and has public water with water available.
The property is positioned a couple of miles from 161/33 and I-270. It is within Dublin’s Technology Flex (TF) District, which supports research, office, laboratory, clean manufacturing, and light-industrial uses. The building was constructed in 1977 and has undergone substantial capital improvements.
The property is positioned a couple of miles from 161/33 and I-270. It is within Dublin’s Technology Flex (TF) District, which supports research, office, laboratory, clean manufacturing, and light-industrial uses. The building was constructed in 1977 and has undergone substantial capital improvements.
Key Highlights
- 7,000 SF flex office/warehouse on 3.35 acres
- Technology Flex (TF) District supports research, office, laboratory, clean manufacturing, and light‑industrial uses
- 20 parking spaces plus a 24' x 12' shed
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,760
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,975,200
$2.0M
Cap Rate 7%
$1,410,857
$1.4M
Cap Rate 9%
$1,097,333
$1.1M
Market Conditions
NOI Build-Up for 7,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$152.9K $21.84/SF
− Vacancy
−$36.7K −$5.24/SF
EGI
$116.2K $16.60/SF
− OpEx
−$17.4K −$2.49/SF
NOI
$98.8K $14.11/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,975,200
Cap Rate 7%
$1,410,857
Cap Rate 9%
$1,097,333
Alternative Uses
Best Use
Warehouse
$1.41M
$1.23M – $1.65M
NOI $98,760 @ 7.0% cap · market cap 4.49%
Second Best
Office B
$1.23M
$1.08M – $1.44M
NOI $86,184 @ 7.0% cap · market cap 3.92%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.66M
NOI $99,897 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43016, OH
44,517
Population
19,919
Households
2.2
Avg Household Size
36
Median Age
69%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
2,343
Density / Sq Mi
$110,518
Median Household Income
$69,917
Median Earnings
$1,530
Median Rent
$413,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Technology Flex District property supporting office, laboratory, clean manufacturing, research, and light-industrial uses.
Where is this flex space located?
The property is located at 6150 Avery Road Dublin, OH.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 7,000 SF flex office/warehouse on 3.35 acres; Technology Flex (TF) District supports research, office, laboratory, clean manufacturing, and light‑industrial uses; 20 parking spaces plus a 24' x 12' shed
