Freestanding Drug Store
New
For Sale
$2,750,000
1280 Demorest Rd, Columbus, OH 43204
Single-story commercial building with an existing drive-thru, substantial parking, and C3 zoning.
Property Size15,120 SF
Days on Market6
Property Features for 1280 Demorest Rd
General Information
Standard status
Active
Size
15,120 SF
Property subtype
Retail
Building Details
Building Size
15,120 SF
Listing Agency:
NAI Ohio Equities, LLC
(614) 595-2752
Listed By:
Chad Boggs · License #OH #2023003870
(614) 595-2752
Source:
Ohioequities
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 23 at 2:32AM
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 NAI Ohio Equities, LLC
Investment Insights
Based on property information with market context.
The property is a 15,120-square-foot, single-story freestanding commercial building on 2.0 acres. Built in 1972, it includes an existing drive-thru and 80 on-site parking spaces. The layout has been identified for retail, medical, pharmacy, fitness, and other commercial applications.
Located at the junction of Demorest Road and Clime Road in Columbus’s southwest submarket, the site records over 20,000 VPD and provides access to I-70, I-270, and U.S. Route 40. C3 zoning supports the property’s commercial positioning.
Located at the junction of Demorest Road and Clime Road in Columbus’s southwest submarket, the site records over 20,000 VPD and provides access to I-70, I-270, and U.S. Route 40. C3 zoning supports the property’s commercial positioning.
Key Highlights
- 15,120 SF single‑story freestanding building
- 2.0‑acre commercial site with C3 zoning
- Existing drive‑thru facility
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
$202,487
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
7.36%
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%
$4,049,740
$4.0M
Cap Rate 7%
$2,892,671
$2.9M
Cap Rate 9%
$2,249,856
$2.2M
Market Conditions
NOI Build-Up for 15,120 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
$290.3K $19.20/SF
− Vacancy
−$20.3K −$1.34/SF
EGI
$270.0K $17.86/SF
− OpEx
−$67.5K −$4.46/SF
NOI
$202.5K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$4,049,740
Cap Rate 7%
$2,892,671
Cap Rate 9%
$2,249,856
Alternative Uses
Best Use
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,487 @ 7.0% cap · market cap 7.36%
Second Best
Retail
$2.49M
$2.18M – $2.91M
NOI $174,318 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,576 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Balanced
Demand for This Use
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 Retail in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CVS Pharmacy — 3499 Clime Rd, Columbus, OH 43223
- Chelsey Spiller — 3499 Clime Rd, Columbus, OH 432233440
- Walgreens Pharmacy — 1280 Demorest Rd, Columbus, OH 43204
- Amanda Shaw — 1280 Demorest Rd, Columbus, OH 432047003
- John Sohn — 1280 Demorest Rd, Columbus, OH 432047003
Frequently Asked Questions
What type of property is this?
Drug store - Single-story commercial building with an existing drive-thru, substantial parking, and C3 zoning.
Where is this drug store located?
The property is located at 1280 Demorest Rd Columbus, OH.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 15,120 SF single‑story freestanding building; 2.0‑acre commercial site with C3 zoning; Existing drive‑thru facility
