Retail Building with Ample
For Sale
$355,000
Pending
1620 Lockbourne Road Columbus, Columbus, OH 43207
Retail building for sale with prominent frontage, convenient access, and approximately 20 on-site parking spaces.
Property Size1,764 SF
Days on Market44
Property Features for 1620 Lockbourne Road Columbus
General Information
Standard status
Pending
Size
1,764 SF
Total Parking Spaces
20
Zoning
UGN-1
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,284
Amenities
No
Public
0.43
20.0
1764.0
Building Details
Building Size
1,764 SF
Year Built
1961
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Joe Herban
(614) 660-5959
Source:
Movenowohio
Added: Jul 9
Changed: Aug 10
Last Checked: Aug 10 at 11:39AM
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 Joe Herban
Investment Insights
Based on property information with market context.
This for-sale retail building offers approximately 1,764 square feet of space and is positioned for strong commercial visibility along a high-traffic main road. The property includes prominent frontage and convenient access, along with approximately 20 on-site parking spaces to support day-to-day customer and employee needs. Zoning is listed as UGN-1.
The property is located at 1620 Lockbourne Road in Columbus, Ohio, and is described as being near major roadways, residential communities, and surrounding commercial growth.
For tenants, owners, and investors, the combination of street exposure and on-site parking supports a range of retail-oriented uses and mixed-use planning consistent with the provided zoning designation.
The property is located at 1620 Lockbourne Road in Columbus, Ohio, and is described as being near major roadways, residential communities, and surrounding commercial growth.
For tenants, owners, and investors, the combination of street exposure and on-site parking supports a range of retail-oriented uses and mixed-use planning consistent with the provided zoning designation.
Key Highlights
- 1,764 SF retail building for sale with prominent frontage on a high‑traffic main road
- Approximately 20 on‑site parking spaces
- Zoned UGN‑1
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
$20,496
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
5.77%
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%
$409,920
$409.9K
Cap Rate 7%
$292,800
$292.8K
Cap Rate 9%
$227,733
$227.7K
Market Conditions
NOI Build-Up for 1,764 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
$38.5K $21.84/SF
− Vacancy
−$9.2K −$5.24/SF
EGI
$29.3K $16.60/SF
− OpEx
−$8.8K −$4.98/SF
NOI
$20.5K $11.62/SF
Area
ZIP 43207
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%
$409,920
Cap Rate 7%
$292,800
Cap Rate 9%
$227,733
Alternative Uses
Best Use
Retail
$292.8K
$256.2K – $341.6K
NOI $20,496 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$355.5K
$311.1K – $414.8K
NOI $24,888 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
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 - Retail building for sale with prominent frontage, convenient access, and approximately 20 on-site parking spaces.
Where is this retail space located?
The property is located at 1620 Lockbourne Road Columbus Columbus, OH.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 1,764 SF retail building for sale with prominent frontage on a high‑traffic main road; Approximately 20 on‑site parking spaces; Zoned UGN‑1
