Approved Multifamily Development
For Sale
$1,800,000
Pending
1036 S Front Street Columbus, Columbus, OH 43206
0.596-acre parcel in Columbus’ Urban Center District with COA approval to demolish and build a 6-story, 106-unit apartment project.
Property Size7,464 SF
Days on Market113
Property Features for 1036 S Front Street Columbus
General Information
Standard status
Pending
Size
7,464 SF
Property subtype
Land
Zoning
UCT UrbanCenter
Site & Location
Neighborhood
German Village
Taxes and HOA fees
Annual Taxes
$12,857
Building Details
Year Built
1963
Listed By:
Dan Ohayon
(614) 333-1934
Source:
Mainrealtors
Added: Jul 7
Changed: Oct 25
Last Checked: Oct 7 at 9:31AM
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 Dan Ohayon
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Investment Insights
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The property is an approved development site on a 0.596-acre corner location. Historic Resource Commission approval has been granted for a Certificate of Appropriateness for demolition of the existing building and for construction of a 6-story, 106-unit apartment building. Zoning variances to the UCT Urban Center District have also been approved for general requirements, on-site parking, and vision clearance.
The site is located in the Brewery District at the southeast corner of S. Front St. and W. Deshler Ave, bounded by Redbud Alley and S. Wall St. In Columbus Zoning, the Urban Center (UCT) district permits up to 7 stories / 85' maximum height, with a 0' minimum setback, no maximum building coverage, and no minimum parking requirement. A city-wide CRA is described as available with a 20% affordability component that would provide a 15-year 100% tax abatement.
The approvals and zoning allowances support a multi-family redevelopment, and the seller notes the site may be suitable for other mixed-use concepts, including condo, hotel, restaurant, offices, church, private club, or climate-controlled self-storage. The prior improvements include a WWCD Radio use and a former Swiss House concept with an alpine chalet-designed building totaling 9,952 SF (7,464 SF finished), along with a bar and commercial kitchen.
The site is located in the Brewery District at the southeast corner of S. Front St. and W. Deshler Ave, bounded by Redbud Alley and S. Wall St. In Columbus Zoning, the Urban Center (UCT) district permits up to 7 stories / 85' maximum height, with a 0' minimum setback, no maximum building coverage, and no minimum parking requirement. A city-wide CRA is described as available with a 20% affordability component that would provide a 15-year 100% tax abatement.
The approvals and zoning allowances support a multi-family redevelopment, and the seller notes the site may be suitable for other mixed-use concepts, including condo, hotel, restaurant, offices, church, private club, or climate-controlled self-storage. The prior improvements include a WWCD Radio use and a former Swiss House concept with an alpine chalet-designed building totaling 9,952 SF (7,464 SF finished), along with a bar and commercial kitchen.
Key Highlights
- 0.596‑acre parcel in Columbus Urban Center (UCT) District on the southeast corner of S. Front St/W. Deshler Ave
- Recently approved Certificate of Appropriateness (COA) for demolition of the existing building and construction of a 6‑story, 106‑unit apartment building
- BZA variances approved for general requirements, on‑site parking, and vision clearance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,958
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,999,160
$2.0M
Cap Rate 7%
$1,427,971
$1.4M
Cap Rate 9%
$1,110,644
$1.1M
Market Conditions
NOI Build-Up for 7,464 SF
Gross rent
$143.3K $19.20/SF
− Vacancy
−$10.0K −$1.34/SF
EGI
$133.3K $17.86/SF
− OpEx
−$33.3K −$4.46/SF
NOI
$100.0K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,999,160
Cap Rate 7%
$1,427,971
Cap Rate 9%
$1,110,644
Alternative Uses
Best Use
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $99,958 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$730.4K
$639.1K – $852.1K
NOI $51,127 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.56M
$1.36M – $1.81M
NOI $108,887 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
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Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 0.596-acre parcel in Columbus’ Urban Center District with COA approval to demolish and build a 6-story, 106-unit apartment project.
Where is this apartment building located?
The property is located at 1036 S Front Street Columbus Columbus, OH.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 0.596‑acre parcel in Columbus Urban Center (UCT) District on the southeast corner of S. Front St/W. Deshler Ave; Recently approved Certificate of Appropriateness (COA) for demolition of the existing building and construction of a 6‑story, 106‑unit apartment building; BZA variances approved for general requirements, on‑site parking, and vision clearance
