Built-Out Salon
New
For Sale
$459,000
153 N High St, Gahanna, OH 43230
Configured personal-care space with reception, plumbed stations, rear flex area, and parking options.
Property Size1,793 SF
Price / SF$255
Days on Market2
Property Features for 153 N High St
General Information
Standard status
Active
Size
1,793 SF
Amenities
reception/waiting area
5 fully plumbed and equipped stations
climate-controlled flex space
Building Details
Year Built
1953
Listing Agency:
RE/MAX Town Center
Listed By:
Brian B Phillips · License #354681
(614) 424-0000
Source:
Thelorilynngroup
Added: Sep 5
Last Checked: Sep 5 at 3:00PM
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 RE/MAX Town Center
Investment Insights
Based on property information with market context.
This 1,793-square-foot storefront at 153 N High St in Gahanna is configured for salon or barbershop use, with a reception and waiting area, five plumbed stations, and fixtures that may remain with the property. The existing operating business is not included in the sale. A climate-controlled rear area of approximately 500 square feet provides additional space for complementary retail, studio, gallery, or related use. Parking is available along the street in front, with additional spaces behind the property.
Capital improvements include plumbing completed in 2017; the roof, water heater, rear deck, and gas fireplace or lantern restoration completed in 2018; the detached garage roof completed in 2021; the front door completed in 2022; and the HVAC system completed in 2023. Built in 1953, the property combines an established storefront configuration with updated building systems and supporting improvements.
Capital improvements include plumbing completed in 2017; the roof, water heater, rear deck, and gas fireplace or lantern restoration completed in 2018; the detached garage roof completed in 2021; the front door completed in 2022; and the HVAC system completed in 2023. Built in 1953, the property combines an established storefront configuration with updated building systems and supporting improvements.
Key Highlights
- 1,793‑square‑foot storefront at 153 N High St, Gahanna, OH 43230
- Five‑station salon or barbershop configuration with plumbed stations
- Approximately 500+/- square feet of climate‑controlled rear flex space
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
$20,833
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
4.54%
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%
$416,660
$416.7K
Cap Rate 7%
$297,614
$297.6K
Cap Rate 9%
$231,478
$231.5K
Market Conditions
NOI Build-Up for 1,793 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
$39.2K $21.84/SF
− Vacancy
−$9.4K −$5.24/SF
EGI
$29.8K $16.60/SF
− OpEx
−$8.9K −$4.98/SF
NOI
$20.8K $11.62/SF
Area
ZIP 43230
Vacancy
24.00%
Lease Rate
$21.84 /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%
$416,660
Cap Rate 7%
$297,614
Cap Rate 9%
$231,478
Alternative Uses
Best Use
Retail
$297.6K
$260.4K – $347.2K
NOI $20,833 @ 7.0% cap · market cap 4.54%
Second Best
Industrial
$269.9K
$236.2K – $314.9K
NOI $18,894 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$340.1K
$297.6K – $396.8K
NOI $23,809 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
928
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43230, OH
58,372
Population
26,170
Households
2.2
Avg Household Size
37
Median Age
50%
College-Educated
96%
High-School Grad
20.4 sq mi
ZIP Area
2,861
Density / Sq Mi
$92,271
Median Household Income
$53,832
Median Earnings
$1,407
Median Rent
$282,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Floral — Gahanna, OH 43230
- Rees Flowers & Fine Gifts — 249 Lincoln Cir, Gahanna, OH 43230
- Rees Flowers & Gifts, Inc. — 249 lincoln cir, gahanna, oh 43230
Frequently Asked Questions
What type of property is this?
Storefront property - Configured personal-care space with reception, plumbed stations, rear flex area, and parking options.
Where is this storefront property located?
The property is located at 153 N High St Gahanna, OH.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1,793‑square‑foot storefront at 153 N High St, Gahanna, OH 43230; Five‑station salon or barbershop configuration with plumbed stations; Approximately 500+/- square feet of climate‑controlled rear flex space
