Mixed-Use Building with Loading
For Sale
$3,200,000
1033 - 1055 W 3rd Ave, Columbus, OH 43212
Flexible commercial space combines showroom, office, and industrial functionality with on-site parking and prominent street exposure.
Property Size15,275 SF
Price / SF$213.33
Days on Market67
Property Features for 1033 - 1055 W 3rd Ave
General Information
Standard status
Active
Size
15,275 SF
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Amenities
dock and drive-in access
expansive glass storefronts
Building Details
Building Size
15,275 SF
Year Built
1957
Listing Agency:
Kohr Royer Griffith
(614) 255-4375
Listed By:
Paul Bloomfield CCIM, SIOR · License #2005008302
Source:
Krgre
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 3:50AM
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 Kohr Royer Griffith
Investment Insights
Based on property information with market context.
This mixed-use commercial property consists of adjacent buildings at 1033–1045 and 1055 W 3rd Ave, offering up to 15,000 SF of showroom, office, and flex space. Expansive glass storefronts support customer-facing uses, while loading infrastructure includes dock and drive-in doors. The buildings were constructed in 1957, and the roof was replaced in 2024.
The property fronts W 3rd Ave in Columbus, Ohio, with visibility along an established commercial corridor. It is near Grandview Yard, downtown Columbus, and The Ohio State University campus. Newly upgraded parking lots extend around the buildings, providing on-site parking for the property’s occupants and visitors.
The property fronts W 3rd Ave in Columbus, Ohio, with visibility along an established commercial corridor. It is near Grandview Yard, downtown Columbus, and The Ohio State University campus. Newly upgraded parking lots extend around the buildings, providing on-site parking for the property’s occupants and visitors.
Key Highlights
- Up to 15K SF of showroom, office, and flex space
- 1033–1045 and 1055 W 3rd Ave, Columbus, OH 43212
- Loading access includes dock and drive‑in doors
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
$173,300
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
5.42%
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%
$3,466,000
$3.5M
Cap Rate 7%
$2,475,714
$2.5M
Cap Rate 9%
$1,925,556
$1.9M
Market Conditions
NOI Build-Up for 15,000 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
$297.0K $19.80/SF
− Vacancy
−$65.9K −$4.40/SF
EGI
$231.1K $15.40/SF
− OpEx
−$57.8K −$3.85/SF
NOI
$173.3K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,466,000
Cap Rate 7%
$2,475,714
Cap Rate 9%
$1,925,556
Alternative Uses
Best Use
Office B
$2.48M
$2.17M – $2.89M
NOI $173,300 @ 7.0% cap · market cap 5.42%
Second Best
Retail
$2.47M
$2.16M – $2.88M
NOI $172,935 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $218,825 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,069
Businesses Nearby
Explore this area
Business Placement
Demographics for 43212, OH
24,171
Population
13,506
Households
1.8
Avg Household Size
30
Median Age
78%
College-Educated
98%
High-School Grad
3.7 sq mi
ZIP Area
6,533
Density / Sq Mi
$74,952
Median Household Income
$59,037
Median Earnings
$1,382
Median Rent
$514,800
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space combines showroom, office, and industrial functionality with on-site parking and prominent street exposure.
Where is this mixed-use property located?
The property is located at 1033 - 1055 W 3rd Ave Columbus, OH.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Up to 15K SF of showroom, office, and flex space; 1033–1045 and 1055 W 3rd Ave, Columbus, OH 43212; Loading access includes dock and drive‑in doors
