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    Multi-Tenant Medical and Office Buildings Title is generated by Realmo AI

    5957-6011 Cleveland Ave, Columbus, OH

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    Commercial real estate opportunity in Columbus, Ohio with long-term leases.

    Type:RETAIL
    Property size:
    17,911 SF
    Lot size:
    2.43 Acres
    Price / SF:
    $150/SF
    Added:
    Dec 3, 2024
    Days on Market:
    553
    Last Refresh:
    May 20 at 8:46 pm

    Property Features for 5957-6011 Cleveland Ave

    General Information

    Standard status
    Active
    Size
    17,911 SF
    Lot size
    2.43 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Aleksandra Kaleta
    Aleksandra Kaleta

    Listing agent Aleksandra Kaleta

    Listing office The Gilbert Group

    Listing date Dec 3, 2024

    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 The Gilbert Group

    HighLights

    • Long term leases providing consistent and strong cash flow.
    • Located in Columbus, Ohio, America's fastest growing city.
    • Abundant parking with multiple egress points.
    • All units have exterior entrances directly off the parking lot.
    • Easy access to I‑270 and 161.
    • High population density and household income within a 5‑mile radius.

    Overview

    This property features multi-tenant medical and office buildings located in Columbus, Ohio. The buildings offer an opportunity to own commercial real estate. Long-term leases are in place, providing consistent cash flow. All units have exterior entrances directly off the parking lot. Abundant parking is available, with multiple egress points directly off of Cleveland Avenue and Laurelwood Drive. The property offers easy access to I-270 and 161, with numerous amenities nearby. The location has over 299,000 people and an average household income of $100,000 annually within a 5-mile radius. It is less than a few miles from Easton Shopping Center and Polaris Shopping Mall. The property size is 17911 square feet.

    Local Financial Insights For Healthcare Medical

    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 $386.9k $21.60
    − Vacancy −$31.0k −$1.73
    EGI $355.9k $19.87
    − OpEx −$142.4k −$7.95
    NOI $213.6k $11.92
    17,911 SF · lease $21.60/SF/yr · vacancy 8.00% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $3.05M
    $2.67M – $3.56M (±1% cap)
    NOI $213,556 @ 7.0% cap · market cap 7.91%
    Second Best
    Office B
    $2.96M
    $2.59M – $3.45M (±1% cap)
    NOI $206,931 @ 7.0% cap · market cap 7.67%
    Theoretical Best
    Office A
    $3.73M
    $3.27M – $4.35M (±1% cap)
    NOI $261,292 @ 7.0% cap · market cap 9.68%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9511
    Latitude
    40.0939

    FAQs

    What type of property is this?
    Medical Office Space - Commercial real estate opportunity in Columbus, Ohio with long-term leases.
    Where is this medical office space located?
    The property is located at 5957-6011 Cleveland Ave Columbus, OH.
    What is the asking price?
    The asking price for this property is $2,698,125.
    What are key features of this property?
    This property features: Long term leases providing consistent and strong cash flow.; Located in Columbus, Ohio, America's fastest growing city.; Abundant parking with multiple egress points.
    (614) 458-8290 Call to check price and availability
    More about this property
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