Multi-Unit Street Retail
For Sale
$3,750,000
116 E Moler Street Columbus, Columbus, OH 43207
Four-unit retail building with renovated updates and NNN leases, plus a finish-ready basement and 23-space parking lot.
Property Size18,941 SF
Price / SF$197.98
Days on Market50
Property Features for 116 E Moler Street Columbus
General Information
Standard status
Active
Size
18,941 SF
Total Parking Spaces
23
Occupancy
100%
Net Operating Income
$289,250
Taxes and HOA fees
Annual Taxes
$15,810
Amenities
No
Public
0.33
23.0
18941.0
Building Details
Building Size
18,941 SF
Year Built
1923
Year Renovated
2023
Stories
2
Tenancy
Multi
Listing Agency:
(614) 660-5959
Listed By:
Joe Herban
(614) 660-5959
Source:
Movenowohio
Added: Jul 3
Changed: Aug 20
Last Checked: Aug 21 at 3:53AM
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 Joe Herban
Investment Insights
Based on property information with market context.
This retail street property was built in 1923 and renovated in 2023. The building is configured as four separate units and is currently operating with 100% occupancy under NNN lease structures. In addition to the existing spaces, there is a finish-ready basement area with HVAC and plumbing already in place, providing an in-building option for future use or expansion of leasable area. Outside, the property includes a 23-space parking lot.
The property is offered for sale in Columbus, Ohio. It is presented as an NNN investment with a multi-unit retail setup designed for retail/street retail investors seeking a straightforward operating format.
From a tenant or operator standpoint, the building’s NNN lease structure and established unit configuration may align well with retail operators looking for a commercial space that is already packaged for investor ownership. The basement’s HVAC and plumbing-in-place condition can also be relevant for prospective tenants or buyers considering how to maximize the building’s usable footprint, subject to applicable approvals and final build-out plans.
The property is offered for sale in Columbus, Ohio. It is presented as an NNN investment with a multi-unit retail setup designed for retail/street retail investors seeking a straightforward operating format.
From a tenant or operator standpoint, the building’s NNN lease structure and established unit configuration may align well with retail operators looking for a commercial space that is already packaged for investor ownership. The basement’s HVAC and plumbing-in-place condition can also be relevant for prospective tenants or buyers considering how to maximize the building’s usable footprint, subject to applicable approvals and final build-out plans.
Key Highlights
- 18,941 SF four‑unit retail building built in 1923 and renovated in 2023
- 100% occupancy with NNN leases in place
- Finish‑ready basement space with 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
5.87%
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 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.82M
$3.34M – $4.45M
NOI $267,232 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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 with renovated updates and NNN leases, plus a finish-ready basement and 23-space parking lot.
Where is this retail space located?
The property is located at 116 E Moler Street Columbus Columbus, OH.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 18,941 SF four‑unit retail building built in 1923 and renovated in 2023; 100% occupancy with NNN leases in place; Finish‑ready basement space with HVAC and plumbing in place
