Columbus Mixed-Use/Industrial Property For
For Sale
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1555 Joyce Avenue, Columbus, OH 43219
Mixed-use/industrial property in Columbus with developed infrastructure.
Property Size36,785 SF
Price / SF$108.74
Days on Market931
Property Features for 1555 Joyce Avenue
General Information
Standard status
Active
Size
36,785 SF
Property subtype
Industrial, Mixed Use
Listing Agency:
Anchor Real Estate Group
(614) 338-8701
Listed By:
Denise Pace · License #444298
Source:
Crexi
Added: Feb 11, 2024
Changed: Aug 26
Last Checked: Aug 28 at 8:46PM
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 Anchor Real Estate Group
Investment Insights
Based on property information with market context.
Located in Columbus, this 36,785-square-foot property benefits from well-developed infrastructure, including highways, railroad access, and an airport. The location offers streamlined transportation and logistics. It also enhances business visibility and may qualify for government incentives. The property is suitable for mixed-use or industrial purposes.
Key Highlights
- Location in Columbus with well‑developed infrastructure.
- Streamlined transportation and logistics.
- Convenient highway access.
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
$145,453
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
3.64%
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%
$2,909,060
$2.9M
Cap Rate 7%
$2,077,900
$2.1M
Cap Rate 9%
$1,616,144
$1.6M
Market Conditions
NOI Build-Up for 36,785 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
$225.1K $6.12/SF
− Vacancy
−$17.3K −$0.47/SF
EGI
$207.8K $5.65/SF
− OpEx
−$62.3K −$1.69/SF
NOI
$145.5K $3.95/SF
Area
Columbus, OH
Vacancy
7.70%
Lease Rate
$6.12 /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%
$2,909,060
Cap Rate 7%
$2,077,900
Cap Rate 9%
$1,616,144
Alternative Uses
Best Use
Mixed Use
$6.03M
$5.28M – $7.04M
NOI $422,108 @ 7.0% cap · market cap 10.55%
Second Best
Industrial
$2.08M
$1.82M – $2.42M
NOI $145,453 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$7.67M
$6.71M – $8.94M
NOI $536,633 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 43219, OH
30,457
Population
13,210
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
82%
High-School Grad
16.0 sq mi
ZIP Area
1,904
Density / Sq Mi
$51,860
Median Household Income
$32,459
Median Earnings
$1,191
Median Rent
$173,600
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use/industrial property in Columbus with developed infrastructure.
Where is this mixed-use property located?
The property is located at 1555 Joyce Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Location in Columbus with well‑developed infrastructure.; Streamlined transportation and logistics.; Convenient highway access.
