Dennison Place Duplex Investment
For Sale
Contact for pricing
1350-1350 Dennison Avenue #1/2, Columbus, OH 43201
Two-unit duplex near OSU and Short North, ideal for owner-occupant.
Property Size1,978 SF
Price / SF$303.34
Days on Market682
Property Features for 1350-1350 Dennison Avenue #1/2
General Information
Standard status
Active
Size
1,978 SF
Property subtype
Multifamily
Net Operating Income
$20,160
Building Details
Year Built
1880
Units
2
Listing Agency:
RE/MAX Partners
Listed By:
Lee Ritchie · License #2010001340
(614) 595-0732
Source:
Crexi
Added: Oct 25, 2024
Changed: Aug 27
Last Checked: Sep 6 at 1:24AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
Located in the Dennison Place neighborhood, this two-story brick duplex presents an investment opportunity in a prime location, just two blocks from N. High Street, offering convenient access to OSU and the Short North. The property features two units, each with two bedrooms and one full bath, totaling 1,978 square feet. The duplex is suitable for an owner-occupant. Character is present throughout the building with original mouldings, brick fireplaces, and wood ceilings. The current owners have been living in the lower unit and renting out the fully furnished upper unit for $1700 per month, with the lease ending on February 28, 2025. The property includes a fully fenced yard, two off-street parking spots, and two additional parking permits per unit.
Key Highlights
- Prime location: Just 2 blocks from N. High Street, walk to OSU & the Short North.
- Duplex featuring Two 2‑bedroom, 1‑bath units, totaling 1,978 sq ft.
- Investment opportunity with potential for owner occupancy.
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
$16,843
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
2.81%
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%
$336,860
$336.9K
Cap Rate 7%
$240,614
$240.6K
Cap Rate 9%
$187,144
$187.1K
Market Conditions
NOI Build-Up for 1,978 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
$25.9K $13.08/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$24.1K $12.16/SF
− OpEx
−$7.2K −$3.65/SF
NOI
$16.8K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /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%
$336,860
Cap Rate 7%
$240,614
Cap Rate 9%
$187,144
Alternative Uses
Best Use
Multifamily LT 5
$240.6K
$210.5K – $280.7K
NOI $16,843 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$193.6K
$169.4K – $225.8K
NOI $13,549 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,925
Businesses Nearby
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 Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex near OSU and Short North, ideal for owner-occupant.
Where is this duplex located?
The property is located at 1350-1350 Dennison Avenue #1/2 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: Prime location: Just 2 blocks from N. High Street, walk to OSU & the Short North.; Duplex featuring Two 2‑bedroom, 1‑bath units, totaling 1,978 sq ft.; Investment opportunity with potential for owner occupancy.
