Building Details

Building Size 2,628 SF

Year Built 1920

Stories 2

Listed By: Brian McLaughlin Show Phone

Source: Movenowohio

Added: Jul 5 Changed: Oct 1 Last Checked: Oct 7 at 9:43AM

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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 Brian McLaughlin

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Investment Insights

Based on property information with market context.

This mixed-use investment property is being offered for sale by a court-appointed receiver. The building totals three units, including one street-level retail space and two apartments: one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit.

The property is located in close proximity to Nationwide Children’s Hospital and provides convenient access to Downtown Columbus and German Village, with major highway corridors including I-70 and I-71.

With street-level retail paired with residential income units, the property offers an owner a straightforward mixed-use configuration within a three-unit building.

Key Highlights

• Mixed‑use building with 3 total units: 1 street‑level retail unit plus 1 two‑bedroom and 1 one‑bedroom apartment
• Building area total of 2,628 SF
• Year built: 1920

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,001

Cap Rate

7.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$360,020 $360.0K

Cap Rate 7%

$257,157 $257.2K

Cap Rate 9%

$200,011 $200.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,628 SF

Gross rent

$35.0K $13.32/SF

− Vacancy

−$2.3K −$0.87/SF

EGI

$32.7K $12.45/SF

− OpEx

−$14.7K −$5.60/SF

NOI

$18.0K $6.85/SF

Area

Columbus, OH

Vacancy

6.50%

Lease Rate

$13.32 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$360,020

Cap Rate 7%

$257,157

Cap Rate 9%

$200,011

Alternative Uses

Best Use

Retail

$432.8K

$378.7K – $505.0K (±1% cap)

NOI $30,298 @ 7.0% cap · market cap 12.68%

Second Best

Mixed Use

$430.8K

$377.0K – $502.6K (±1% cap)

NOI $30,156 @ 7.0% cap · market cap 12.62%

Theoretical Best

Office A

$547.7K

$479.2K – $639.0K (±1% cap)

NOI $38,338 @ 7.0% cap · market cap 16.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Spa & Massage Center Nail Salon Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

588

Businesses Nearby

Explore this area Business Placement

Demographics for 43206, OH

21,594

Population

12,758

Households

1.7

Avg Household Size

35

Median Age

48%

College-Educated

94%

High-School Grad

3.0 sq mi

ZIP Area

7,198

Density / Sq Mi

$74,421

Median Household Income

$52,603

Median Earnings

$1,339

Median Rent

$280,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use building with one street-level retail unit and two residential apartments, offered in a court-appointed receiver sale.

Where is this mixed-use property located?

The property is located at 1220-1222 Parsons # 1220 Columbus Columbus, OH.

What is the asking price?

The asking price for this property is $239,000.

What are key features of this property?

This property features: Mixed‑use building with 3 total units: 1 street‑level retail unit plus 1 two‑bedroom and 1 one‑bedroom apartment; Building area total of 2,628 SF; Year built: 1920