Industrial Warehouse with Office
For Sale
$1,350,000
1125 Cleveland Ave, Columbus, OH 43201
Industrial warehouse with office buildout, two drive-in doors, and a secure fenced yard for practical business operations.
Property Size9,216 SF
Price / SF$147.46
Days on Market59
Property Features for 1125 Cleveland Ave
General Information
Standard status
Active
Size
9,216 SF
Property subtype
Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
2
Building Details
Building Size
9,216 SF
Year Built
1946
Listing Agency:
Alterra Real Estate Advisors
(614) 915-2512
Listed By:
Richard Conie · License #2022007391
(614) 915-2512
Source:
Alterrare
Added: Jun 25
Changed: Aug 7
Last Checked: Aug 22 at 4:46AM
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 Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
1125 Cleveland Avenue is a well-equipped industrial facility offering functional warehouse space along with an office buildout. The property includes two drive-in doors and a secure fenced yard, supporting day-to-day access and controlled outdoor storage or work areas.
Positioned in central Columbus, the site is presented for sale as an owner-user opportunity with a layout designed for industrial and service-oriented operations requiring both warehouse utility and office space.
Overall, the combination of warehouse area, office improvements, drive-in access, and fenced yard makes this property adaptable for businesses that need a compact, operationally efficient industrial setting.
Positioned in central Columbus, the site is presented for sale as an owner-user opportunity with a layout designed for industrial and service-oriented operations requiring both warehouse utility and office space.
Overall, the combination of warehouse area, office improvements, drive-in access, and fenced yard makes this property adaptable for businesses that need a compact, operationally efficient industrial setting.
Key Highlights
- 9,155 SF industrial facility with office buildout
- Two drive‑in doors for convenient loading and access
- Secure fenced yard for added on‑site security
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
$90,975
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
6.74%
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%
$1,819,500
$1.8M
Cap Rate 7%
$1,299,643
$1.3M
Cap Rate 9%
$1,010,833
$1.0M
Market Conditions
NOI Build-Up for 9,155 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
$153.8K $16.80/SF
− Vacancy
−$13.8K −$1.51/SF
EGI
$140.0K $15.29/SF
− OpEx
−$49.0K −$5.35/SF
NOI
$91.0K $9.94/SF
Area
Columbus, OH
Vacancy
9.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,819,500
Cap Rate 7%
$1,299,643
Cap Rate 9%
$1,010,833
Alternative Uses
Best Use
Flex RnD
$1.30M
$1.14M – $1.52M
NOI $90,975 @ 7.0% cap · market cap 6.74%
Second Best
Warehouse
$628.0K
$549.5K – $732.6K
NOI $43,957 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,556 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial warehouse with office buildout, two drive-in doors, and a secure fenced yard for practical business operations.
Where is this flex space located?
The property is located at 1125 Cleveland Ave Columbus, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 9,155 SF industrial facility with office buildout; Two drive‑in doors for convenient loading and access; Secure fenced yard for added on‑site security
