Two-Unit Multifamily
For Sale
Contact for pricing
Pending
1355-1357 Dennison Ave, Columbus, OH 43201
Two-unit multifamily property offered for sale as a duplex configuration.
Property Size3,713 SF
Days on Market164
Property Features for 1355-1357 Dennison Ave
General Information
Standard status
Pending
Size
3,713 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Stories
3
Units
2
Listing Agency:
Keller Williams Consultants
Listed By:
Troy A Marsh · License #2004013263
(614) 325-8394
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 24 at 4:03PM
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 Keller Williams Consultants
Investment Insights
Based on property information with market context.
This is a two-unit multifamily duplex offered for sale. The property provides two separate units within a single duplex structure, suited for residential income use.
The address is 1355-1357 Dennison Ave in Columbus, Ohio. The listing does not provide additional details on unit layout, condition, or interior features.
With a total property size listed at 3,713, this duplex presents a straightforward two-unit residential income configuration within the given offering.
The address is 1355-1357 Dennison Ave in Columbus, Ohio. The listing does not provide additional details on unit layout, condition, or interior features.
With a total property size listed at 3,713, this duplex presents a straightforward two-unit residential income configuration within the given offering.
Key Highlights
- Two‑unit multifamily property offered for sale as a duplex configuration
- Built in 1890
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
$31,616
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
3.96%
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%
$632,320
$632.3K
Cap Rate 7%
$451,657
$451.7K
Cap Rate 9%
$351,289
$351.3K
Market Conditions
NOI Build-Up for 3,713 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
$48.6K $13.08/SF
− Vacancy
−$3.4K −$0.92/SF
EGI
$45.2K $12.16/SF
− OpEx
−$13.5K −$3.65/SF
NOI
$31.6K $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%
$632,320
Cap Rate 7%
$451,657
Cap Rate 9%
$351,289
Alternative Uses
Best Use
Multifamily LT 5
$451.7K
$395.2K – $526.9K
NOI $31,616 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.9K
NOI $25,433 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$773.8K
$677.1K – $902.8K
NOI $54,167 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit multifamily property offered for sale as a duplex configuration.
Where is this duplex located?
The property is located at 1355-1357 Dennison Ave Columbus, OH.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit multifamily property offered for sale as a duplex configuration; Built in 1890
