Occupied Mixed-Use
For Sale
$1,695,000
1555 N 4th Street, Columbus, OH 43201
A fully occupied property combining commercial and residential units.
Property Size15,508 SF
Days on Market115
Property Features for 1555 N 4th Street
General Information
Standard status
Active
Size
15,508 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,382
Building Details
Building Size
15,508 SF
Year Built
1920
Listing Agency:
Red 1 Realty
(614) 257-8076
Listed By:
Jeffrey Sheu · License #2017006002
(614) 257-8076
Source:
Carolgoffrealestate
Added: May 8
Changed: Aug 29
Last Checked: Aug 25 at 9:12AM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
Located at 1555 N 4th Street in Columbus, Ohio’s University District, this mixed-use building contains 3 commercial units and 6 residential units. The property is fully occupied, providing a combination of commercial and residential space within one building.
The entire building is submetered, and its tax abatement extends through 2029.
The entire building is submetered, and its tax abatement extends through 2029.
Key Highlights
- 3 commercial units and 6 residential units
- Fully occupied mixed‑use building
- Entire building is submetered
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
$106,227
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
6.27%
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%
$2,124,540
$2.1M
Cap Rate 7%
$1,517,529
$1.5M
Cap Rate 9%
$1,180,300
$1.2M
Market Conditions
NOI Build-Up for 15,508 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
$206.6K $13.32/SF
− Vacancy
−$13.4K −$0.87/SF
EGI
$193.1K $12.45/SF
− OpEx
−$86.9K −$5.60/SF
NOI
$106.2K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$2,124,540
Cap Rate 7%
$1,517,529
Cap Rate 9%
$1,180,300
Alternative Uses
Best Use
Mixed Use
$2.54M
$2.22M – $2.97M
NOI $177,954 @ 7.0% cap · market cap 10.50%
Second Best
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,227 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,236 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,429
Businesses Nearby
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A fully occupied property combining commercial and residential units.
Where is this mixed-use property located?
The property is located at 1555 N 4th Street Columbus, OH.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 3 commercial units and 6 residential units; Fully occupied mixed‑use building; Entire building is submetered
