Multi-Tenant Office
For Sale
$600,000
1386 East Main Street, Columbus, OH 43205
A six-suite office building with 4,468 SF total offers flexible space for office, professional, or creative users.
Property Size4,468 SF
Price / SF$134.29
Days on Market97
Property Features for 1386 East Main Street
General Information
Standard status
Active
Size
4,468 SF
Class
C
Property subtype
Office
Additional Details
Office Units
6
Building Details
Building Size
4,468 SF
Tenancy
Multi
Listing Agency:
NAI Ohio Equities
Listed By:
Max Ward · License #2024003070
(513) 833-4297
Source:
Ohioequities
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 5 at 6:16AM
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
Investment Insights
Based on property information with market context.
1386 East Main Street is a multi-tenant office property totaling 4,468 SF, configured into six individual suites. The layout is designed for flexible occupancy, supporting a range of office, professional service, creative, or small business uses.
The property is located along East Main Street in Columbus, with access to the city’s urban corridor and connectivity that supports steady day-to-day exposure. It is described as being just minutes from Downtown Columbus.
For buyers seeking a mixed live-and-lease approach, the suite configuration allows an owner-user to occupy a portion of the building while renting the remaining suites to help offset expenses.
The property is located along East Main Street in Columbus, with access to the city’s urban corridor and connectivity that supports steady day-to-day exposure. It is described as being just minutes from Downtown Columbus.
For buyers seeking a mixed live-and-lease approach, the suite configuration allows an owner-user to occupy a portion of the building while renting the remaining suites to help offset expenses.
Key Highlights
- 4,468 SF multi‑tenant office building configured into six individual suites
- Flexible suite layout suitable for office, professional service, creative, or small business users
- Multi‑tenant setup can support an investor for rental income or an owner/user to offset expenses
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
$51,620
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
8.60%
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%
$1,032,400
$1.0M
Cap Rate 7%
$737,429
$737.4K
Cap Rate 9%
$573,556
$573.6K
Market Conditions
NOI Build-Up for 4,468 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
$88.5K $19.80/SF
− Vacancy
−$19.6K −$4.40/SF
EGI
$68.8K $15.40/SF
− OpEx
−$17.2K −$3.85/SF
NOI
$51.6K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /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%
$1,032,400
Cap Rate 7%
$737,429
Cap Rate 9%
$573,556
Alternative Uses
Best Use
Office B
$737.4K
$645.3K – $860.3K
NOI $51,620 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$931.2K
$814.8K – $1.09M
NOI $65,181 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - A six-suite office building with 4,468 SF total offers flexible space for office, professional, or creative users.
Where is this office units located?
The property is located at 1386 East Main Street Columbus, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4,468 SF multi‑tenant office building configured into six individual suites; Flexible suite layout suitable for office, professional service, creative, or small business users; Multi‑tenant setup can support an investor for rental income or an owner/user to offset expenses
