Two-Story Office Building with
New
For Sale
$898,000
54 E Whittier St, Columbus, OH 43206
Flexible commercial layout with basement storage, covered parking, and a fenced outdoor area.
Property Size2,887 SF
Price / SF$311.05
Days on Market2
Property Features for 54 E Whittier St
General Information
Standard status
Active
Size
2,887 SF
Class
B
Property subtype
Office
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Amenities
full basement
fenced outdoor patio
Building Details
Building Size
2,887 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
NAI Ohio Equities
Listed By:
Gabriel Dent · License #SAL.2025005415
(380) 237-6839
Source:
Ohioequities
Added: Sep 1
Last Checked: Sep 1 at 9:14PM
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 2,887-square-foot, two-level commercial building offers a flexible configuration for office, retail, studio, or mixed-use occupancy. The property includes a full basement, fenced outdoor patio, two-space covered carport, and additional off-street parking. Its corner positioning adds street exposure, while the existing layout supports a range of commercial applications.
The property is located at 54 E Whittier St in Columbus’s German Village, with direct access to South High Street and the Brewery District. I-70 and I-71 are readily accessible, and the building is minutes from downtown Columbus and Nationwide Children's Hospital. The surrounding context is an established urban infill area with a mix of commercial and residential activity.
The property is located at 54 E Whittier St in Columbus’s German Village, with direct access to South High Street and the Brewery District. I-70 and I-71 are readily accessible, and the building is minutes from downtown Columbus and Nationwide Children's Hospital. The surrounding context is an established urban infill area with a mix of commercial and residential activity.
Key Highlights
- 2,887 SF two‑story commercial building
- Flexible layout for office, retail, studio, or mixed‑use occupancy
- Full basement and fenced outdoor patio
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
$33,354
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
3.71%
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%
$667,080
$667.1K
Cap Rate 7%
$476,486
$476.5K
Cap Rate 9%
$370,600
$370.6K
Market Conditions
NOI Build-Up for 2,887 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
$57.2K $19.80/SF
− Vacancy
−$12.7K −$4.40/SF
EGI
$44.5K $15.40/SF
− OpEx
−$11.1K −$3.85/SF
NOI
$33.4K $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%
$667,080
Cap Rate 7%
$476,486
Cap Rate 9%
$370,600
Alternative Uses
Best Use
Office B
$476.5K
$416.9K – $555.9K
NOI $33,354 @ 7.0% cap · market cap 3.71%
Second Best
Mixed Use
$473.3K
$414.1K – $552.1K
NOI $33,128 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$601.7K
$526.5K – $702.0K
NOI $42,117 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,294
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
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible commercial layout with basement storage, covered parking, and a fenced outdoor area.
Where is this office building located?
The property is located at 54 E Whittier St Columbus, OH.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: 2,887 SF two‑story commercial building; Flexible layout for office, retail, studio, or mixed‑use occupancy; Full basement and fenced outdoor patio
