Built-Out Retail
New
For Sale
$459,000
153 N High Street, Gahanna, OH 43230
Commercial Sale, Gahanna, OH
Property Size1,793 SF
Lot Size0.17 Acres
Price / SF$255
Days on Market3
Property Features for 153 N High Street
General Information
Property type
Residential
Property subtype
Retail
Zoning description
C
Subdivision
OLD GAHANNA
Standard status
Active
APN
025-000325
Size
1,793 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7980
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
reception/waiting area
plumbed stations
climate-controlled flex space
gas fireplace
Building Details
Year built
1953
Floors in Building
1
Listing Agency:
RE/MAX Town Center · RE/MAX International
(614) 428-7444
Listed By:
Brian B Phillips · License #354681
(740) 973-0350
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 5:06AM
MLS# 226033608
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,793-square-foot retail property was built in 1953 and is configured for personal-care use. The interior includes a reception and waiting area, five plumbed stations, and approximately 500+/- square feet of climate-controlled flex space at the rear. The additional area was previously used as a rehearsal studio and can support complementary retail, gallery, or boutique functions. Street parking is available at the front, with additional parking behind the building. The existing business has relocated and is not part of the sale, while fixtures may remain.
Capital improvements include plumbing work in 2017; the roof, water heater, rear deck, and gas fireplace or lantern restoration in 2018; the detached garage roof in 2021; the front door in 2022; and the HVAC system in 2023. The property has forced-air heating, public water, and public sewer.
Capital improvements include plumbing work in 2017; the roof, water heater, rear deck, and gas fireplace or lantern restoration in 2018; the detached garage roof in 2021; the front door in 2022; and the HVAC system in 2023. The property has forced-air heating, public water, and public sewer.
Key Highlights
- 1,793 SF retail property on a 0.17‑acre parcel
- Five fully plumbed and equipped stations
- Approximately 500+/- SF 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
—
—
no second resolved use
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
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Five-station personal-care layout with rear flex area, public utilities, and recent HVAC improvements.
Where is this retail space located?
The property is located at 153 N High Street 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 SF retail property on a 0.17‑acre parcel; Five fully plumbed and equipped stations; Approximately 500+/- SF of climate‑controlled rear flex space
