Corner Medical Office
For Sale
$325,000
1060 Cleveland Avenue, Columbus, OH 43201
Brick house on a corner parcel offered for commercial use, with an occupied tenant on-site and sale requiring three parcels together.
Property Size1,144 SF
Price / SF$284.09
Days on Market502
Property Features for 1060 Cleveland Avenue
General Information
Standard status
Active
Size
1,144 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,269
Building Details
Building Size
1,144 SF
Year Built
1915
Listing Agency:
RE/MAX Revealty
Listed By:
Brandi J Newland · License #2007005457
(614) 778-4520
Source:
Camtaylor
Added: Jun 4, 2025
Changed: Oct 7
Last Checked: Oct 16 at 3:43PM
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 RE/MAX Revealty
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Investment Insights
Based on property information with market context.
This offering includes a brick house located on a corner parcel, marketed as Commercial ONLY. The property is currently occupied, and prospective buyers must not disturb the tenant. The available opportunity is presented as suitable for a doctors office or other business use, subject to applicable requirements.
The site is positioned on the corner of 4th & Cleveland, with the property situated steps to the corner of 5th & Cleveland. Public remarks indicate convenient access to Interstate I-71 & I-70 (about 3 minutes) and nearby transit and employment destinations, including a COTA bus ride to Downtown CBUS (about 10 minutes) and OSU Campus (about 15 minutes). Additional stated proximity includes Columbus State Community College (about 5 minutes) and John Glenn International Airport (about 20 minutes), along with Nationwide Arena (about 6 minutes).
All 3 parcels must be sold together. Included parcel numbers are 010-052621-00 and 010-022131-, along with a third parcel not fully specified in the provided information.
The site is positioned on the corner of 4th & Cleveland, with the property situated steps to the corner of 5th & Cleveland. Public remarks indicate convenient access to Interstate I-71 & I-70 (about 3 minutes) and nearby transit and employment destinations, including a COTA bus ride to Downtown CBUS (about 10 minutes) and OSU Campus (about 15 minutes). Additional stated proximity includes Columbus State Community College (about 5 minutes) and John Glenn International Airport (about 20 minutes), along with Nationwide Arena (about 6 minutes).
All 3 parcels must be sold together. Included parcel numbers are 010-052621-00 and 010-022131-, along with a third parcel not fully specified in the provided information.
Key Highlights
- Commercial‑only parcel in the Milo Grogan Community on the corner of 4th & Cleveland
- Brick house on‑site is currently occupied; please do not disturb the tenant
- Sale requires all 3 parcels to be sold together: 010‑052621‑00 and 010‑022131‑00 (3 parcels total)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,640
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,800
$272.8K
Cap Rate 7%
$194,857
$194.9K
Cap Rate 9%
$151,556
$151.6K
Market Conditions
NOI Build-Up for 1,144 SF
Gross rent
$24.7K $21.60/SF
− Vacancy
−$2.0K −$1.73/SF
EGI
$22.7K $19.87/SF
− OpEx
−$9.1K −$7.95/SF
NOI
$13.6K $11.92/SF
Area
Columbus, OH
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,800
Cap Rate 7%
$194,857
Cap Rate 9%
$151,556
Alternative Uses
Best Use
Healthcare Medical
$194.9K
$170.5K – $227.3K
NOI $13,640 @ 7.0% cap · market cap 4.20%
Second Best
Office B
$188.8K
$165.2K – $220.3K
NOI $13,217 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$238.4K
$208.6K – $278.2K
NOI $16,689 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,219
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick house on a corner parcel offered for commercial use, with an occupied tenant on-site and sale requiring three parcels together.
Where is this medical office space located?
The property is located at 1060 Cleveland Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Commercial‑only parcel in the Milo Grogan Community on the corner of 4th & Cleveland; Brick house on‑site is currently occupied; please do not disturb the tenant; Sale requires all 3 parcels to be sold together: 010‑052621‑00 and 010‑022131‑00 (3 parcels total)
