Centrally Located Standalone
For Sale
Contact for pricing
2201 Advance Ave, Columbus, OH
Unique property for sale or lease with income-producing trailer parking.
Property Size56,784 SF
Lot Size6.74 Acres
Price / SF$87.17
Days on Market818
Property Features for 2201 Advance Ave
General Information
Standard status
Active
Size
56,784 SF
Lot size
6.74 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 2201 Advance Ave Contact us- Floor
- Bldg
- Size
- 56,784 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2201 Advance Ave
- Unique centrally located standalone property
available for sale or lease. In the...
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Listing Agency:
Colliers | Columbus
(614) 436-9800
Listed By:
Kyle Ghiloni · License #SAL.2017003909
(614) 437-4515
Source:
Moodyscre
Added: Jun 18, 2024
Changed: Sep 4
Last Checked: Sep 13 at 4:34AM
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 Colliers | Columbus
Investment Insights
Based on property information with market context.
This centrally located standalone property is available for sale or lease. The property includes approximately 8 acres of leased, income-producing trailer parking. Recent improvements include concrete and paving work, exterior paint, and LED lighting in the warehouse. The property size is 56784 square feet.
Key Highlights
- Income‑producing: Approximately 8 acres of leased trailer parking.
- Centrally located standalone property.
- New improvements: Features recent concrete/paving work, exterior paint, and LED warehouse lighting.
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
$272,645
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
5.51%
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%
$5,452,900
$5.5M
Cap Rate 7%
$3,894,929
$3.9M
Cap Rate 9%
$3,029,389
$3.0M
Market Conditions
NOI Build-Up for 56,784 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
$347.5K $6.12/SF
− Vacancy
−$26.8K −$0.47/SF
EGI
$320.8K $5.65/SF
− OpEx
−$48.1K −$0.85/SF
NOI
$272.6K $4.80/SF
Area
Columbus, OH
Vacancy
7.70%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
15.00%
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%
$5,452,900
Cap Rate 7%
$3,894,929
Cap Rate 9%
$3,029,389
Alternative Uses
Best Use
Retail
$9.35M
$8.18M – $10.91M
NOI $654,663 @ 7.0% cap · market cap 13.23%
Second Best
Warehouse
$3.89M
$3.41M – $4.54M
NOI $272,645 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$11.83M
$10.35M – $13.81M
NOI $828,385 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Warehouse - Unique property for sale or lease with income-producing trailer parking.
Where is this warehouse located?
The property is located at 2201 Advance Ave Columbus, OH.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Income‑producing: Approximately 8 acres of leased trailer parking.; Centrally located standalone property.; New improvements: Features recent concrete/paving work, exterior paint, and LED warehouse lighting.
