Renovated Temperature-Controlled Flex
For Sale
$2,900,000
1025 E 5th Avenue, Columbus, OH 43201
Three demised units offer flexible occupancy, substantial parking, heavy power, and upgraded building systems.
Property Size30,746 SF
Price / SF$91.61
Days on Market204
Property Features for 1025 E 5th Avenue
General Information
Standard status
Active
Size
30,746 SF
Total Parking Spaces
80
Property subtype
Commercial
Warehouse & Industrial
Heavy Power
Yes
Sprinkler System
Yes
Conditioned Warehouse
Yes
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$17,805
Amenities
security features
IT rooms
Building Details
Building Size
30,746 SF
Year Built
1940
Buildings
1
Units
3
Listing Agency:
Red 1 Realty
(614) 560-7747
Listed By:
Roxy Ponce · License #2020006941
(614) 560-7747
Source:
Carolgoffrealestate
Added: Feb 7
Changed: Aug 29
Last Checked: Aug 25 at 9:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Red 1 Realty
Investment Insights
Based on property information with market context.
This fully renovated flex property provides approximately 31,656 square feet of temperature-controlled space arranged as three separately demised units. The building has a new roof and sprinkler system, heavy power, multiple IT rooms, and enhanced security installations. Each unit is supported by ample on-site parking.
The property is located at 1025 E 5th Avenue in Columbus, with convenient connections to I-71 and I-670. Downtown Columbus and surrounding neighborhoods are minutes away. The site is also within an Opportunity Zone, adding a defined location-based characteristic for users evaluating the property.
The property is located at 1025 E 5th Avenue in Columbus, with convenient connections to I-71 and I-670. Downtown Columbus and surrounding neighborhoods are minutes away. The site is also within an Opportunity Zone, adding a defined location-based characteristic for users evaluating the property.
Key Highlights
- Approximately 31,656 square feet of fully renovated, temperature‑controlled flex space
- Three fully demised units with ample parking
- New roof and sprinkler system
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
$151,995
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
5.24%
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%
$3,039,900
$3.0M
Cap Rate 7%
$2,171,357
$2.2M
Cap Rate 9%
$1,688,833
$1.7M
Market Conditions
NOI Build-Up for 31,656 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
$193.7K $6.12/SF
− Vacancy
−$14.9K −$0.47/SF
EGI
$178.8K $5.65/SF
− OpEx
−$26.8K −$0.85/SF
NOI
$152.0K $4.80/SF
Area
Columbus, OH
Vacancy
7.70%
Lease Rate
$6.12 /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%
$3,039,900
Cap Rate 7%
$2,171,357
Cap Rate 9%
$1,688,833
Alternative Uses
Best Use
Flex RnD
$4.49M
$3.93M – $5.24M
NOI $314,572 @ 7.0% cap · market cap 10.85%
Second Best
Warehouse
$2.17M
$1.90M – $2.53M
NOI $151,995 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$6.60M
$5.77M – $7.70M
NOI $461,809 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 5th Avenue Fresh LLC — 737 Parkwood Ave, Columbus, OH 43219
Frequently Asked Questions
What type of property is this?
Flex space - Three demised units offer flexible occupancy, substantial parking, heavy power, and upgraded building systems.
Where is this flex space located?
The property is located at 1025 E 5th Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Approximately 31,656 square feet of fully renovated, temperature‑controlled flex space; Three fully demised units with ample parking; New roof and sprinkler system
