Versatile Commercial Space in
For Sale
Contact for pricing
Pending
1115 Lawrence Drive, Columbus, OH 43207
Move-in ready 2,200 SF commercial space with high visibility.
Property Size2,200 SF
Days on Market152
Property Features for 1115 Lawrence Drive
General Information
Standard status
Pending
Size
2,200 SF
Total Parking Spaces
9
Property subtype
Mixed Use, Retail, Office, Special Purpose
Building Details
Year Built
1993
Listing Agency:
Cutler Real Estate
Listed By:
Stefani Robinson · License #2002020967
Source:
Crexi
Added: Apr 1
Changed: Aug 17
Last Checked: Aug 14 at 7:26AM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This 2,200 SF all-block building presents a prime opportunity for establishing or relocating a business in a high-visibility, heavily traveled location in Columbus. Zoned C-4 (Regional Commercial), the property offers flexibility for various uses, including retail, office, salon, automotive, or contractor space. Buyers should verify specific use suitability. The space was updated approximately 8 years ago and features a terrazzo entry with metal medallions, a remodeled bath with stone shower and flooring, a conference room with limestone floors and wood wainscoting, and a lounge area finished with limestone flooring. The layout includes two private offices and a functional warehouse space with a full floor drain and holding tank, suitable for automotive or wash-related use. Additional features include 10' ceilings, 200 amp electric, concrete floors, block construction, a drive-in door, a utility sink, and attic storage. Parking is available for 9-10 vehicles. This versatile, move-in ready commercial space combines function and style in a prime location.
Key Highlights
- Prime location with high visibility and heavy traffic.
- C‑4 zoning allows for a wide range of commercial uses (retail, office, salon, automotive, contractor, etc.).
- 2,200 SF all‑block building, thoughtfully updated approximately 8 years ago.
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
$22,823
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
7.02%
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%
$456,460
$456.5K
Cap Rate 7%
$326,043
$326.0K
Cap Rate 9%
$253,589
$253.6K
Market Conditions
NOI Build-Up for 2,200 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
$48.0K $21.84/SF
− Vacancy
−$11.5K −$5.24/SF
EGI
$36.5K $16.60/SF
− OpEx
−$13.7K −$6.22/SF
NOI
$22.8K $10.37/SF
Area
ZIP 43207
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
37.50%
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%
$456,460
Cap Rate 7%
$326,043
Cap Rate 9%
$253,589
Alternative Uses
Best Use
Mixed Use
$326.0K
$285.3K – $380.4K
NOI $22,823 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$443.4K
$388.0K – $517.3K
NOI $31,039 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Move-in ready 2,200 SF commercial space with high visibility.
Where is this mixed-use property located?
The property is located at 1115 Lawrence Drive 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: Prime location with high visibility and heavy traffic.; C‑4 zoning allows for a wide range of commercial uses (retail, office, salon, automotive, contractor, etc.).; 2,200 SF all‑block building, thoughtfully updated approximately 8 years ago.
