Storefront Retail on Major
For Sale
Contact for pricing
2383 W Broad St, Columbus, OH 43204
Single-dedicated lot featuring approximately 9,180 square feet of open retail space with street-front signage exposure.
Property Size9,180 SF
Price / SF$152.51
Days on Market561
Property Features for 2383 W Broad St
General Information
Standard status
Active
Size
9,180 SF
Property subtype
RETAIL
Amenities
street-front signage
Listing Agency:
CBRE | Columbus
(614) 224-1492
Listed By:
Luke Streng · License #2007004532
(614) 781-5130
Source:
Moodyscre
Added: Feb 26, 2025
Changed: Sep 6
Last Checked: Sep 10 at 8:27AM
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 CBRE | Columbus
Investment Insights
Based on property information with market context.
This storefront retail property offers approximately 9,180 square feet of open retail space suited to a variety of retail uses. The site includes a dedicated lot designed to provide straightforward customer access, along with prominent street-front signage for visibility.
Located on W Broad St, a major retail corridor with strong traffic counts, the property benefits from a dense residential base.
The layout is configured as largely open retail, making it practical for tenants seeking flexible floorplate options within a street-facing storefront setting.
Located on W Broad St, a major retail corridor with strong traffic counts, the property benefits from a dense residential base.
The layout is configured as largely open retail, making it practical for tenants seeking flexible floorplate options within a street-facing storefront setting.
Key Highlights
- Approx. 9,180 SF of open retail space for a variety of uses
- Located on W Broad St., a major retail corridor with strong traffic counts
- Dedicated lot with easy customer access
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
$105,836
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
7.56%
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%
$2,116,720
$2.1M
Cap Rate 7%
$1,511,943
$1.5M
Cap Rate 9%
$1,175,956
$1.2M
Market Conditions
NOI Build-Up for 9,180 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
$165.2K $18.00/SF
− Vacancy
−$14.0K −$1.53/SF
EGI
$151.2K $16.47/SF
− OpEx
−$45.4K −$4.94/SF
NOI
$105.8K $11.53/SF
Area
Columbus, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,116,720
Cap Rate 7%
$1,511,943
Cap Rate 9%
$1,175,956
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,836 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,921 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Retail space - Single-dedicated lot featuring approximately 9,180 square feet of open retail space with street-front signage exposure.
Where is this retail space located?
The property is located at 2383 W Broad St Columbus, OH.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Approx. 9,180 SF of open retail space for a variety of uses; Located on W Broad St., a major retail corridor with strong traffic counts; Dedicated lot with easy customer access
