Renovated Commercial Property on Corner
For Sale
$1,488,000
3440 W Broad St, Columbus, OH 43204
Freestanding commercial property with modern upgrades on a corner lot.
Property Size21,844 SF
Days on Market285
Property Features for 3440 W Broad St
General Information
Standard status
Active
Size
21,844 SF
Property subtype
Retail
Building Details
Building Size
21,844 SF
Year Built
1951
Listing Agency:
Kohr Royer Griffith, Inc.
Listed By:
Brent Garland · License #OH #2012002167
(614) 551-4485
Source:
Krgre
Added: Nov 24, 2025
Changed: Sep 4
Last Checked: Sep 5 at 5:13AM
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 Kohr Royer Griffith, Inc.
Investment Insights
Based on property information with market context.
This freestanding commercial property, built in 1951 and extensively renovated in 2018, combines historic character with modern upgrades. Situated on a 2+/- acre corner lot at West Broad and Wilson Road, the property features 21,844 square feet of interior space, plus a 2,500 square foot basement with double walkout doors and large exterior stairs. The location provides excellent visibility, accessibility, and strong signage opportunities.
Key Highlights
- Prime corner location at West Broad and Wilson Road with excellent visibility and accessibility.
- Extensively renovated in 2018, blending historic character with modern upgrades.
- Large interior space of 21,844 sq. ft. on 2+\/- acres.
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
$86,374
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
5.80%
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%
$1,727,480
$1.7M
Cap Rate 7%
$1,233,914
$1.2M
Cap Rate 9%
$959,711
$959.7K
Market Conditions
NOI Build-Up for 21,844 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
$133.7K $6.12/SF
− Vacancy
−$10.3K −$0.47/SF
EGI
$123.4K $5.65/SF
− OpEx
−$37.0K −$1.69/SF
NOI
$86.4K $3.95/SF
Area
Columbus, OH
Vacancy
7.70%
Lease Rate
$6.12 /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%
$1,727,480
Cap Rate 7%
$1,233,914
Cap Rate 9%
$959,711
Alternative Uses
Best Use
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,374 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.55M
$3.98M – $5.31M
NOI $318,668 @ 7.0% cap · market cap 21.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 43204, OH
42,315
Population
19,286
Households
2.2
Avg Household Size
35
Median Age
25%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
4,502
Density / Sq Mi
$59,158
Median Household Income
$38,610
Median Earnings
$1,206
Median Rent
$170,900
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Freestanding commercial property with modern upgrades on a corner lot.
Where is this industrial property located?
The property is located at 3440 W Broad St Columbus, OH.
What is the asking price?
The asking price for this property is $1,488,000.
What are key features of this property?
This property features: Prime corner location at West Broad and Wilson Road with excellent visibility and accessibility.; Extensively renovated in 2018, blending historic character with modern upgrades.; Large interior space of 21,844 sq. ft. on 2+\/- acres.
