Two-Story Office
For Sale
$1,244,000
Pending
130 E Main Street New Albany, New Albany, OH 43054
Turnkey Class A office condominium with multiple private offices, conference room, open workspace, and two kitchenettes.
Property Size3,200 SF
Days on Market46
Property Features for 130 E Main Street New Albany
General Information
Standard status
Pending
Size
3,200 SF
Total Parking Spaces
12
Net Operating Income
$47,000
Taxes and HOA fees
Annual Taxes
$16,686
Amenities
No
Public
0.04
12.0
3200.0
Building Details
Building Size
3,200 SF
Year Built
2006
Stories
2
Listing Agency:
(614) 660-5959
Listed By:
Bernice Banquaio
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 16
Last Checked: Aug 21 at 4:07AM
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 Bernice Banquaio
Investment Insights
Based on property information with market context.
Built in 2010, this two-story Class A office condominium is designed for a professional, turnkey move-in experience. The interior features 5+ private offices or suites plus a conference room, an open collaborative workspace, and extensive built-in storage and custom cabinetry. Two kitchenettes with stainless appliances support day-to-day workflow, along with three bathrooms total, including an executive full bath with shower and an ADA accessible first-floor restroom.
Located on E Main Street in New Albany, the property is described as part of the downtown corridor and is stated to be within walking distance to local restaurants, shops, and community amenities. The listing also notes easy access to major highways and the greater Columbus market.
The layout is intended to balance private offices with shared space, with upgrades noted including fresh designer paint, refinished hardwood flooring, and custom millwork throughout.
Located on E Main Street in New Albany, the property is described as part of the downtown corridor and is stated to be within walking distance to local restaurants, shops, and community amenities. The listing also notes easy access to major highways and the greater Columbus market.
The layout is intended to balance private offices with shared space, with upgrades noted including fresh designer paint, refinished hardwood flooring, and custom millwork throughout.
Key Highlights
- Class A two‑story office condominium built in 2006 with public water service
- Includes 5+ private offices/suites plus a conference room and an open collaborative workspace
- Two kitchenettes with stainless appliances, plus extensive built‑in storage and custom cabinetry
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
$39,398
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
3.17%
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%
$787,960
$788.0K
Cap Rate 7%
$562,829
$562.8K
Cap Rate 9%
$437,756
$437.8K
Market Conditions
NOI Build-Up for 3,200 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
$69.1K $21.60/SF
− Vacancy
−$16.6K −$5.18/SF
EGI
$52.5K $16.42/SF
− OpEx
−$13.1K −$4.10/SF
NOI
$39.4K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$787,960
Cap Rate 7%
$562,829
Cap Rate 9%
$437,756
Alternative Uses
Best Use
Office B
$562.8K
$492.5K – $656.6K
NOI $39,398 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$652.4K
$570.8K – $761.1K
NOI $45,667 @ 7.0% cap · market cap 3.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 43054, OH
27,781
Population
11,577
Households
2.4
Avg Household Size
36
Median Age
65%
College-Educated
97%
High-School Grad
25.7 sq mi
ZIP Area
1,081
Density / Sq Mi
$139,679
Median Household Income
$75,539
Median Earnings
$1,808
Median Rent
$483,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey Class A office condominium with multiple private offices, conference room, open workspace, and two kitchenettes.
Where is this office units located?
The property is located at 130 E Main Street New Albany New Albany, OH.
What is the asking price?
The asking price for this property is $1,244,000.
What are key features of this property?
This property features: Class A two‑story office condominium built in 2006 with public water service; Includes 5+ private offices/suites plus a conference room and an open collaborative workspace; Two kitchenettes with stainless appliances, plus extensive built‑in storage and custom cabinetry
