Retail Space on Parsons
For Sale
Contact for pricing
1351 Parsons Ave, Columbus, OH 43206
Retail space for sale or lease with ample parking.
Property Size9,660 SF
Price / SF$129.40
Days on Market2272
Property Features for 1351 Parsons Ave
General Information
Standard status
Active
Size
9,660 SF
Total Parking Spaces
34
Property subtype
Mixed Use, Office, Retail
Zoning
C-4
Lease Type
NNN
Building Details
Year Built
1935
Year Renovated
1986
Listing Agency:
NAI Ohio Equities, LLC
(614) 581-2434
Listed By:
Dan Sheeran Jr · License #OH 2016006190
Source:
Crexi
Added: Jun 11, 2020
Changed: Aug 15
Last Checked: Aug 29 at 5:49AM
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, LLC
Investment Insights
Based on property information with market context.
Approximately 10,000 square feet of retail space is available for sale or lease. The property, located at 1351 S Parsons Avenue, Columbus, OH 43206, offers the potential for division into multiple spaces, with a minimum divisible area of approximately 2,500 square feet. The building features a new roof installed in April 2022. Ample parking is available, with 34 parking spaces provided. Zoned Commercial (C4), the property presents opportunities for various users.
Key Highlights
- Ample Parking: 34 parking spaces available.
- High Potential: ±10,000 SF of retail space, divisible to ±2,500 SF, offering flexible usage options.
- New Roof: Roof replaced in April 2022.
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
$110,849
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
8.87%
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%
$2,216,980
$2.2M
Cap Rate 7%
$1,583,557
$1.6M
Cap Rate 9%
$1,231,656
$1.2M
Market Conditions
NOI Build-Up for 9,660 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
$197.1K $20.40/SF
− Vacancy
−$19.7K −$2.04/SF
EGI
$177.4K $18.36/SF
− OpEx
−$66.5K −$6.89/SF
NOI
$110.8K $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%
$2,216,980
Cap Rate 7%
$1,583,557
Cap Rate 9%
$1,231,656
Alternative Uses
Best Use
Mixed Use
$1.58M
$1.39M – $1.85M
NOI $110,849 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,923 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space for sale or lease with ample parking.
Where is this mixed-use property located?
The property is located at 1351 Parsons Ave Columbus, OH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Ample Parking: 34 parking spaces available.; High Potential: **±10,000 SF of retail space, divisible to ±2,500 SF**, offering flexible usage options.; New Roof: Roof replaced in April 2022.
