Olde Towne East Mixed-Use
1447 E Main Street #1447 Columbus, OH 43205
For Sale
Contact for pricing
Eleven units in Olde Towne East, all in turn-key condition.
Property Size10,004 SF
Price / SF$119.45
Days on Market84
Property Features for 1447 E Main Street #1447
General Information
Standard status
Active
Size
10,004 SF
Property subtype
Mixed Use
Building Details
Year Built
1912
Listing Agency:
Carriage Trade Realty, Inc.
(614) 296-5784
Listed By:
Nina Masseria · License #262010
Source:
Crexi
Added: May 7
Changed: Jul 10
Last Checked: Jul 27 at 8:06PM
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.
Located on a corner in Olde Towne East, this property features eleven units in turn-key condition, distributed across two buildings on a single parcel. The property at 1445-1447 East Main Street includes two commercial storefronts on the ground floor. The second floor at 1445 1/2 East Main contains three apartments, each featuring two bedrooms and one bathroom. The rear building, located at 458 - 462 Miller Ave and known as 'The Motor Lodge', houses six apartments, each with one bedroom and one bathroom. The entire property is well-maintained, with all units updated and occupied by tenants. The property size is 10004 square feet.
Key Highlights
- Turn‑key condition 11‑unit property in Olde Towne East.
- Two buildings on one parcel, including commercial storefronts.
- Fully occupied with updated units and good tenants.
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
Mixed Use
$1.64M
$1.43M – $1.91M
NOI $114,796 @ 7.0% cap · market cap 9.61%
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Eleven units in Olde Towne East, all in turn-key condition.
Where is this mixed-use property located?
The property is located at 1447 E Main Street #1447 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: Turn‑key condition 11‑unit property in Olde Towne East.; Two buildings on one parcel, including commercial storefronts.; Fully occupied with updated units and good tenants.
