Mixed-Use Corner
For Sale
$600,000
411 South Central Avenue, Columbus, OH 43223
Corner-lot commercial property with parking and convenient access to I-70 and Downtown Columbus.
Property Size3,600 SF
Price / SF$166.67
Days on Market193
Property Features for 411 South Central Avenue
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Free Standing Building
Additional Details
Highway Access
Yes
Building Details
Building Size
3,600 SF
Year Built
1990
Properties For Sale
at 411 South Central Avenue Contact us- Size
- 3,600 SF
- Lease Type
- NNN
Unit
Listing Agency:
NAI | Ohio Equities
(513) 833-4297
Listed By:
Maxwell Ward
(513) 833-4297
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:08AM
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.
This 3,600-square-foot mixed-use commercial property was built in 1990 and occupies a corner site at South Central Avenue and Union Avenue. The property includes on-site parking and presents a commercial setting within Franklinton on Columbus’s west side.
The site is positioned near walkable retail destinations and residential communities, with direct access to I-70 and a short drive to Downtown Columbus. Its corner placement, established neighborhood setting, and mixed-use classification provide a clear foundation for commercial occupancy or ownership.
The site is positioned near walkable retail destinations and residential communities, with direct access to I-70 and a short drive to Downtown Columbus. Its corner placement, established neighborhood setting, and mixed-use classification provide a clear foundation for commercial occupancy or ownership.
Key Highlights
- 3,600 SF mixed‑use commercial property
- Corner location at South Central Avenue and Union Avenue
- Built in 1990
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
$41,310
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
6.89%
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%
$826,200
$826.2K
Cap Rate 7%
$590,143
$590.1K
Cap Rate 9%
$459,000
$459.0K
Market Conditions
NOI Build-Up for 3,600 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
$73.4K $20.40/SF
− Vacancy
−$7.3K −$2.04/SF
EGI
$66.1K $18.36/SF
− OpEx
−$24.8K −$6.89/SF
NOI
$41.3K $11.48/SF
Area
Columbus, OH
Vacancy
10.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$826,200
Cap Rate 7%
$590,143
Cap Rate 9%
$459,000
Alternative Uses
Best Use
Mixed Use
$590.1K
$516.4K – $688.5K
NOI $41,310 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$750.3K
$656.5K – $875.3K
NOI $52,518 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-lot commercial property with parking and convenient access to I-70 and Downtown Columbus.
Where is this mixed-use property located?
The property is located at 411 South Central Avenue 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: 3,600 SF mixed‑use commercial property; Corner location at South Central Avenue and Union Avenue; Built in 1990
