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    Net Leased Showroom/Warehouse Facility Title is generated by Realmo AI

    3657 Trabue Rd, Columbus, OH

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    Single tenant showroom/warehouse facility with a new 5-year lease.

    Type:INDUSTRIAL
    Property size:
    18,220 SF
    Lot size:
    2.07 Acres
    Price / SF:
    $157/SF
    Added:
    Jan 10, 2025
    Days on Market:
    511
    Last Refresh:
    May 20 at 9:03 pm

    Property Features for 3657 Trabue Rd

    General Information

    Standard status
    Active
    Size
    18,220 SF
    Lot size
    2.07 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Doug Tenenbaum
    Doug Tenenbaum

    Listing agent Doug Tenenbaum License #2003006998

    Listing office Hanna Commercial Real Estate | Central Ohio

    Listing date Jan 10, 2025

    Source Moodyscre

    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 Hanna Commercial Real Estate | Central Ohio

    HighLights

    • Strong Tenant: Leased to America's Floor Source, a national flooring company.
    • Attractive Lease Terms: New 5‑year lease with options and a 6.75% Year‑1 Cap Rate.
    • High Visibility & Traffic: Benefits from great signage and a strong average daily traffic count.
    • Strategic Location: Conveniently located near major interstates and key areas.
    • Versatile Facility: Features a mix of showroom/office and warehouse space, with 12’-18’ clear height and 3 drive‑in doors.
    • Established Occupancy: Tenant has occupied the location since 2010, demonstrating stability.

    Overview

    This single-tenant, net-leased property features an 18,220-square-foot showroom, office, and warehouse facility. The property is leased to America’s Floor Source, a national flooring company with over $208 million in revenue in 2024. A new 5-year lease is in place from the date of closing, with two 5-year renewal options. The property operates at a 6.75% Year-1 Cap Rate, generating $193,514 NOI, with 2% annual escalations. The building is comprised of approximately 8,405 square feet (46%) of warehouse space and 9,815 square feet (54%) of showroom and office areas. The site spans 2.07 acres and includes 32 striped parking spaces. The warehouse area features clear heights ranging from 12 to 18 feet and is accessible via three drive-in doors (12’ and 14’). The property has undergone numerous improvements from 2012 to 2024. Located northwest of downtown, the property is near I-70, I-270, I-670, and the Riverside/Dublin Rd corridor, with proximity to Upper Arlington, Hilliard, Grandview, The Ohio State University, Columbus Downtown/CBD, Franklinton, Quarry Trails Metro Park, and the new 607-acre Quarry Trails mixed-use development. Situated between Wilson Rd and Hague Ave, it is directly across from the Raymond Memorial golf course. The location benefits from a strong average daily traffic count of 12,635 vehicles (2023), offering great signage, access, and visibility. The surrounding area has a population of 8,683 within a 1-mile radius, 82,035 within a 3-mile radius, and 327,674 within a 5-mile radius. Average household incomes in these radii are $116,307, $147,070, and $118,574, respectively.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $328.0k $18.00
    − Vacancy −$27.9k −$1.53
    EGI $300.1k $16.47
    − OpEx −$90.0k −$4.94
    NOI $210.1k $11.53
    18,220 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $3.00M
    $2.63M – $3.50M (±1% cap)
    NOI $210,058 @ 7.0% cap · market cap 7.33%
    Second Best
    Warehouse
    $1.25M
    $1.09M – $1.46M (±1% cap)
    NOI $87,482 @ 7.0% cap · market cap 3.05%
    Theoretical Best
    Office A
    $3.80M
    $3.32M – $4.43M (±1% cap)
    NOI $265,800 @ 7.0% cap · market cap 9.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    America's Floor Source ... Carpet & Flooring Store Pinnacle Restroom Building Supply

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Timeless Designs — 5019 Transamerica Dr, Columbus, OH 43228
    • ProSource of Columbus — 5225 Trabue Rd, Columbus, OH 43228
    • Carpet & Flooring USA — 5593 valencia park blvd #11c, hilliard, oh 43026
    • Caesarstone Columbus Showroom & Distribution Center — 5176 Fisher Rd, Columbus, OH 43228

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0941
    Latitude
    39.9915

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    FAQs

    What type of property is this?
    Showroom - Single tenant showroom/warehouse facility with a new 5-year lease.
    Where is this showroom located?
    The property is located at 3657 Trabue Rd Columbus, OH.
    What is the asking price?
    The asking price for this property is $2,866,875.
    What are key features of this property?
    This property features: Strong Tenant: Leased to America's Floor Source, a national flooring company.; Attractive Lease Terms: New 5‑year lease with options and a 6.75% Year‑1 Cap Rate.; High Visibility & Traffic: Benefits from great signage and a strong average daily traffic count.
    (614) 554-4408 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Doug Tenenbaum
    Doug Tenenbaum
    Real Estate License ID: 2003006998
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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