Corner Multi-Use Income
1445 East Main Street Unit 458 MILLER AVE Columbus, OH 43205
1445 East Main Street Unit 458 MILLER AVE, Columbus, OH, 43205
$1,195,000
For Sale
$1,195,000
Two-building package with street-level storefronts and updated, occupied apartment units on one parcel.
Property Size10,004 SF
Price / SF$119.45
Days on Market260
Property Features for 1445 East Main Street Unit 458 MILLER AVE
General Information
- Standard status
- Active
- Size
- 10,004 SF
- Property subtype
- Multi-Family / Mixed Use
Building Details
- Year Built
- 1912
Listing agency
Carriage Trade Realty, Inc.
(614) 218-4419
Listed by
Alexander J Macke · License #448904
(614) 218-4419
Source
Compass
Added: Nov 4, 2025 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 8:20AM
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 Carriage Trade Realty, Inc.
Investment Insights
Based on property information with market context.
This is a corner multi-use income property configured as two buildings on one parcel and presented in turn-key condition. The front building includes two downstairs commercial store fronts at 1445-1447 East Main Street and a set of upstairs apartments at 1445 1/2 East Main Street, consisting of three large 2-bedroom, 1-bath units. The rear building at 458-462 Miller Ave is identified as “The Motor Lodge” and provides six 1-bedroom, 1-bath apartments.
All units are described as nicely updated and currently occupied. The property is positioned on a corner location, and the layout supports both commercial and residential income streams within the same ownership footprint.
For buyers seeking a diversified small-balance portfolio or operators looking for a managed, mixed-use setup, this package offers straightforward unit mix across 11 total units, with storefront space on the street level and apartment homes above and in the rear building. Current unit rents are listed by unit in the offering materials, and the property is presented ready for continued operation with updates already in place.
All units are described as nicely updated and currently occupied. The property is positioned on a corner location, and the layout supports both commercial and residential income streams within the same ownership footprint.
For buyers seeking a diversified small-balance portfolio or operators looking for a managed, mixed-use setup, this package offers straightforward unit mix across 11 total units, with storefront space on the street level and apartment homes above and in the rear building. Current unit rents are listed by unit in the offering materials, and the property is presented ready for continued operation with updates already in place.
Key Highlights
- Two‑building, 11‑unit package on one parcel with street‑level storefronts and apartments
- Olde Towne East corner location with 1445–1447 East Main St storefronts plus 2nd‑floor 2‑bed, 1‑bath apartments
- Rear building at 458–462 Miller Ave (“The Motor Lodge”) with six 1‑bed, 1‑bath apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.3k | $13.32 |
| − Vacancy | −$8.7k | −$0.87 |
| EGI | $124.6k | $12.45 |
| − OpEx | −$56.1k | −$5.60 |
| NOI | $68.5k | $6.85 |
10,004 SF · lease $13.32/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Retail
$1.65M
$1.44M – $1.92M
NOI $115,336 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$978.9K
$856.6K – $1.14M
NOI $68,525 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,942 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two-building package with street-level storefronts and updated, occupied apartment units on one parcel.
Where is this apartment building located?
The property is located at 1445 East Main Street Unit 458 MILLER AVE Columbus, OH.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑building, 11‑unit package on one parcel with street‑level storefronts and apartments; Olde Towne East corner location with 1445–1447 East Main St storefronts plus 2nd‑floor 2‑bed, 1‑bath apartments; Rear building at 458–462 Miller Ave (“The Motor Lodge”) with six 1‑bed, 1‑bath apartments
