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 Market67
Property Features for 1036 S Front Street Columbus
General Information
Standard status
Pending
Size
7,464 SF
Property subtype
Land
Zoning
UCT UrbanCenter
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: Sep 10
Last Checked: Sep 11 at 4:20AM
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
Investment Insights
Based on property information with market context.
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 = 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
$99,958
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
5.55%
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%
$1,999,160
$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
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
$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 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%
$1,999,160
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
