Renovated Retail Building with
For Sale
Contact for pricing
106-116 E Moler St, Columbus, OH 43207
Four-unit retail building in Columbus, Ohio, renovated in 2023.
Property Size18,941 SF
Price / SF$229.66
Days on Market116
Property Features for 106-116 E Moler St
General Information
Standard status
Active
Size
18,941 SF
Property subtype
RETAIL
Listing Agency:
Verti Commercial Real Estate L
(614) 600-7273
Listed By:
Brett Ludwig · License #2016004572
(614) 600-7273
Source:
Moodyscre
Added: May 8
Changed: Aug 10
Last Checked: Aug 30 at 8:08PM
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 Verti Commercial Real Estate L
Investment Insights
Based on property information with market context.
This property, located in Columbus, Ohio, presents an investment opportunity. Constructed in 1923 and renovated in 2023, the 18,941 square foot building features four units. The property is currently 100% occupied with NNN leases, making it suitable for retail investors. The property includes a finish-ready basement space with HVAC and plumbing already in place. There is also a 23-space parking lot that offers opportunities for monetization through re-zoning and development, potentially adding value to the asset. The building combines historic charm with contemporary appeal and has a strong leasing history.
Key Highlights
- 100% Occupancy with NNN Leases provides immediate and stable income.
- Renovated in 2023, combining historic charm with modern functionality.
- Value‑add potential with finish‑ready basement space, HVAC and plumbing in place.
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
$220,073
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
5.06%
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%
$4,401,460
$4.4M
Cap Rate 7%
$3,143,900
$3.1M
Cap Rate 9%
$2,445,256
$2.4M
Market Conditions
NOI Build-Up for 18,941 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
$413.7K $21.84/SF
− Vacancy
−$99.3K −$5.24/SF
EGI
$314.4K $16.60/SF
− OpEx
−$94.3K −$4.98/SF
NOI
$220.1K $11.62/SF
Area
ZIP 43207
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
30.00%
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%
$4,401,460
Cap Rate 7%
$3,143,900
Cap Rate 9%
$2,445,256
Alternative Uses
Best Use
Retail
$3.14M
$2.75M – $3.67M
NOI $220,073 @ 7.0% cap · market cap 5.06%
Second Best
Industrial
$3.14M
$2.75M – $3.67M
NOI $220,073 @ 7.0% cap · market cap 5.06%
Theoretical Best
Warehouse
$3.82M
$3.34M – $4.45M
NOI $267,232 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Four-unit retail building in Columbus, Ohio, renovated in 2023.
Where is this retail space located?
The property is located at 106-116 E Moler St Columbus, OH.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: 100% Occupancy with NNN Leases provides immediate and stable income.; Renovated in 2023, combining historic charm with modern functionality.; Value‑add potential with finish‑ready basement space, HVAC and plumbing in place.
