4-Unit
For Sale
$754,900
1566 Northwest Blvd, Columbus, OH 43212
The property features hardwood flooring throughout, with occupants responsible for gas, electric, and water/sewer costs.
Property Size4,896 SF
Price / SF$154.19
Days on Market63
Property Features for 1566 Northwest Blvd
General Information
Standard status
Active
Size
4,896 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Ryan Ruehle, Exp Realty, LLC
Listed By:
Real Estate Showcase RES
(740) 389-2000
Source:
Resmarion
Added: Aug 3
Changed: Oct 3
Last Checked: Oct 2 at 8:36PM
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 Ryan Ruehle, Exp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1930, this multifamily property contains four residential units, each arranged with one bedroom and one bathroom. Hardwood flooring extends throughout the building, providing a consistent interior finish across the units.
Utility responsibilities are structured so tenants pay for gas, electric, and water/sewer service. The property is located at 1566 Northwest Boulevard in Columbus, Ohio.
Utility responsibilities are structured so tenants pay for gas, electric, and water/sewer service. The property is located at 1566 Northwest Boulevard in Columbus, Ohio.
Key Highlights
- Four‑unit multifamily building
- Each unit includes 1 bedroom and 1 bathroom
- Hardwood floors throughout
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
$41,690
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
5.52%
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%
$833,800
$833.8K
Cap Rate 7%
$595,571
$595.6K
Cap Rate 9%
$463,222
$463.2K
Market Conditions
NOI Build-Up for 4,896 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
$64.0K $13.08/SF
− Vacancy
−$4.5K −$0.92/SF
EGI
$59.6K $12.16/SF
− OpEx
−$17.9K −$3.65/SF
NOI
$41.7K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /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%
$833,800
Cap Rate 7%
$595,571
Cap Rate 9%
$463,222
Alternative Uses
Best Use
Multifamily LT 5
$595.6K
$521.1K – $694.8K
NOI $41,690 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$479.1K
$419.2K – $559.0K
NOI $33,537 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.02M
$892.8K – $1.19M
NOI $71,425 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,841
Businesses Nearby
Explore this area
Business Placement
Demographics for 43212, OH
24,171
Population
13,506
Households
1.8
Avg Household Size
30
Median Age
78%
College-Educated
98%
High-School Grad
3.7 sq mi
ZIP Area
6,533
Density / Sq Mi
$74,952
Median Household Income
$59,037
Median Earnings
$1,382
Median Rent
$514,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - The property features hardwood flooring throughout, with occupants responsible for gas, electric, and water/sewer costs.
Where is this quadplex located?
The property is located at 1566 Northwest Blvd Columbus, OH.
What is the asking price?
The asking price for this property is $754,900.
What are key features of this property?
This property features: Four‑unit multifamily building; Each unit includes 1 bedroom and 1 bathroom; Hardwood floors throughout
