Mixed-Use Condominium with
For Sale
Contact for pricing
1137 North High Street, Columbus, OH 43201
Renovated commercial condominium with an open plan, dramatic ceiling height, storefront glazing, and flexible suite configuration.
Property Size3,564 SF
Price / SF$154.32
Days on Market65
Property Features for 1137 North High Street
General Information
Standard status
Active
Size
3,564 SF
Class
A
Total Parking Spaces
2
Property subtype
Retail, Office, Hospitality
Building Details
Units
2
Listing Agency:
MDC Realty Limited
Listed By:
Jennifer Rooney · License #2018004012
(614) 451-8500
Source:
Crexi
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 1 at 2:34AM
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 MDC Realty Limited
Investment Insights
Based on property information with market context.
This mixed-use commercial condominium is configured as a performance and entertainment venue with an open interior, 18-foot ceilings, expansive storefront windows, and strong natural light. The improvements include a full-service bar, remodeled high-end restrooms, and a dedicated 4' x 8' ventilation shaft; a hood is not installed. The layout can be divided into two separate suites, supporting a range of ownership and occupancy configurations.
The property is located at 1137 North High Street in Columbus, within the Short North mixed-use development known as Jackson on High. Ownership includes two dedicated parking spaces along with access to the building’s rooftop pool and entertainment deck and a fourth-floor conference room. The existing buildout and demising potential provide a practical foundation for restaurant, hospitality, retail, office, or creative uses.
The property is located at 1137 North High Street in Columbus, within the Short North mixed-use development known as Jackson on High. Ownership includes two dedicated parking spaces along with access to the building’s rooftop pool and entertainment deck and a fourth-floor conference room. The existing buildout and demising potential provide a practical foundation for restaurant, hospitality, retail, office, or creative uses.
Key Highlights
- 18‑foot ceilings with expansive storefront windows and abundant natural light
- Full‑service bar and newly remodeled high‑end restrooms
- 4' x 8' dedicated ventilation shaft; no hood 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
$41,176
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
7.49%
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%
$823,520
$823.5K
Cap Rate 7%
$588,229
$588.2K
Cap Rate 9%
$457,511
$457.5K
Market Conditions
NOI Build-Up for 3,564 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
$70.6K $19.80/SF
− Vacancy
−$15.7K −$4.40/SF
EGI
$54.9K $15.40/SF
− OpEx
−$13.7K −$3.85/SF
NOI
$41.2K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /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%
$823,520
Cap Rate 7%
$588,229
Cap Rate 9%
$457,511
Alternative Uses
Best Use
Office B
$588.2K
$514.7K – $686.3K
NOI $41,176 @ 7.0% cap · market cap 7.49%
Second Best
Mixed Use
$584.2K
$511.2K – $681.6K
NOI $40,897 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$742.8K
$649.9K – $866.6K
NOI $51,993 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,172
Businesses Nearby
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
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated commercial condominium with an open plan, dramatic ceiling height, storefront glazing, and flexible suite configuration.
Where is this mixed-use property located?
The property is located at 1137 North High Street Columbus, OH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 18‑foot ceilings with expansive storefront windows and abundant natural light; Full‑service bar and newly remodeled high‑end restrooms; 4' x 8' dedicated ventilation shaft; no hood in place
