Flex Space with Heated
For Sale
Contact for pricing
Pending
1125 Cleveland Ave, Columbus, OH 43201
Flex space with a dedicated heated warehouse plus showroom, retail, or office space from a former brewery operation.
Property Size9,216 SF
Days on Market167
Property Features for 1125 Cleveland Ave
General Information
Standard status
Pending
Size
9,216 SF
Property subtype
INDUSTRIAL
Listing Agency:
Alterra Real Estate Advisors
(380) 204-7784
Listed By:
Richard Conie · License #2022007391
(614) 545-4099
Source:
Moodyscre
Added: Apr 1
Changed: Sep 7
Last Checked: Sep 13 at 11:19AM
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 Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
This flex space offers a mix of showroom, retail, or office space and a dedicated heated warehouse. Approximately 2,000 SF is available for showroom, retail, or office use, alongside about 7,000 SF of dedicated heated warehouse space that was added in 2005. The warehouse includes floor drains located throughout the space.
The property is described as having served as a former brewery and food operation. Total property size is approximately 9,216 SF. Please do not disturb the tenant.
For an owner-occupant looking for operational space that can support both office or sales functions and heated warehouse activity, the existing layout provides a built-in split between front-of-house space and warehouse operations.
The property is described as having served as a former brewery and food operation. Total property size is approximately 9,216 SF. Please do not disturb the tenant.
For an owner-occupant looking for operational space that can support both office or sales functions and heated warehouse activity, the existing layout provides a built-in split between front-of-house space and warehouse operations.
Key Highlights
- Approximately 9,216 SF flex space
- About +/-2,000 SF showroom, retail, or office space
- About +/-7,000 SF dedicated heated warehouse added in 2005
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
$91,581
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
6.78%
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%
$1,831,620
$1.8M
Cap Rate 7%
$1,308,300
$1.3M
Cap Rate 9%
$1,017,567
$1.0M
Market Conditions
NOI Build-Up for 9,216 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
$154.8K $16.80/SF
− Vacancy
−$13.9K −$1.51/SF
EGI
$140.9K $15.29/SF
− OpEx
−$49.3K −$5.35/SF
NOI
$91.6K $9.94/SF
Area
Columbus, OH
Vacancy
9.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,831,620
Cap Rate 7%
$1,308,300
Cap Rate 9%
$1,017,567
Alternative Uses
Best Use
Flex RnD
$1.31M
$1.14M – $1.53M
NOI $91,581 @ 7.0% cap · market cap 6.78%
Second Best
Warehouse
$632.1K
$553.1K – $737.5K
NOI $44,250 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,446 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with a dedicated heated warehouse plus showroom, retail, or office space from a former brewery operation.
Where is this flex space located?
The property is located at 1125 Cleveland Ave Columbus, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Approximately 9,216 SF flex space; About +/-2,000 SF showroom, retail, or office space; About +/-7,000 SF dedicated heated warehouse added in 2005
