Building Details

Building Size 30,746 SF

Year Built 1940

Buildings 1

Tenancy Multi

Listing Agency: Red 1 Realty

Listed By: Roxy Ponce · License #2020006941 Show Phone

Source: Ologyrealty

Added: Jun 3 Changed: Oct 30 Last Checked: Oct 30 at 2:00AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This renovated flex property is arranged as three separate units, with temperature control throughout. Building improvements include a new roof and sprinkler system, while heavy power, multiple IT rooms, and security features are also in place. The property was built in 1940 and is within an Opportunity Zone.

Located minutes from Downtown Columbus and nearby neighborhoods, the site offers access to I-71 and I-670. Ample parking serves the three-unit layout.

Key Highlights

• Three fully separated units
• Temperature‑controlled building with heavy power
• New roof and sprinkler system

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$121,574

Cap Rate

4.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,431,480 $2.4M

Cap Rate 7%

$1,736,771 $1.7M

Cap Rate 9%

$1,350,822 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 30,746 SF

Gross rent

$188.2K $6.12/SF

− Vacancy

−$14.5K −$0.47/SF

EGI

$173.7K $5.65/SF

− OpEx

−$52.1K −$1.69/SF

NOI

$121.6K $3.95/SF

Area

Columbus, OH

Vacancy

7.70%

Lease Rate

$6.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,431,480

Cap Rate 7%

$1,736,771

Cap Rate 9%

$1,350,822

Alternative Uses

Best Use

Flex RnD

$4.36M

$3.82M – $5.09M (±1% cap)

NOI $305,529 @ 7.0% cap · market cap 10.54%

Second Best

Industrial

$1.74M

$1.52M – $2.03M (±1% cap)

NOI $121,574 @ 7.0% cap · market cap 4.19%

Theoretical Best

Office A

$6.41M

$5.61M – $7.48M (±1% cap)

NOI $448,533 @ 7.0% cap · market cap 15.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Play Champagne Nightclub

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Dental Office Skin Care Clinic Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

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

3.7% 2019

5% 2020

2.1% 2021

3.7% 2022

7.1% 2023

9% 2024

6.1% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Temperature control, heavy power, and dedicated IT rooms support the building’s three-unit configuration.

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: Three fully separated units; Temperature‑controlled building with heavy power; New roof and sprinkler system