Building Details

Building Size 15,508 SF

Year Built 1920

Stories 2

Listed By: John Stomps Show Phone

Source: Movenowohio

Added: Jul 5 Changed: Oct 2 Last Checked: Oct 7 at 9:45AM

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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 John Stomps

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Investment Insights

Based on property information with market context.

This mixed-use building includes 3 commercial units and 6 residential units and is currently fully occupied. The building is submetered, which supports separate measurement for the units.

The property is located in Columbus, Ohio’s University District. The entire building is tax abated through 2029.

For sale as an income-producing, submetered mixed-use asset with both commercial and residential components already in place.

Key Highlights

• Fully occupied mixed‑use building with 3 commercial units and 6 residential units
• Located in the University District of Columbus, Ohio
• Entire building is submetered and tax abated through 2029

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$106,227

Cap Rate

6.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,124,540 $2.1M

Cap Rate 7%

$1,517,529 $1.5M

Cap Rate 9%

$1,180,300 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,508 SF

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 Rate 5%

$2,124,540

Cap Rate 7%

$1,517,529

Cap Rate 9%

$1,180,300

Alternative Uses

Best Use

Retail

$2.55M

$2.23M – $2.98M (±1% cap)

NOI $178,792 @ 7.0% cap · market cap 11.17%

Second Best

Apartment 5plus

$1.52M

$1.33M – $1.77M (±1% cap)

NOI $106,227 @ 7.0% cap · market cap 6.64%

Theoretical Best

Office A

$3.23M

$2.83M – $3.77M (±1% cap)

NOI $226,236 @ 7.0% cap · market cap 14.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Viral Columbus Selfie ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Law Firm Furniture & Home Goods (Bike/Boat/Book/etc) Store Food Market Home Appliance Store Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Fully occupied mixed-use building offers 3 commercial units and 6 residential units.

Where is this apartment building located?

The property is located at 1555 N 4th Street Columbus Columbus, OH.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Fully occupied mixed‑use building with 3 commercial units and 6 residential units; Located in the University District of Columbus, Ohio; Entire building is submetered and tax abated through 2029