Updated Commercial Property, Body
For Sale
Contact for pricing
1664 E Hudson Street, Columbus, OH 43211
Spacious, updated commercial property with parking and security fence.
Property Size4,245 SF
Price / SF$150.77
Days on Market687
Property Features for 1664 E Hudson Street
General Information
Standard status
Active
Size
4,245 SF
Property subtype
Retail
Building Details
Year Built
1945
Year Renovated
2024
Listing Agency:
Key Realty
Listed By:
Julie Frase · License #2021006892
Source:
Crexi
Added: Oct 28, 2024
Changed: Sep 11
Last Checked: Sep 14 at 5:43AM
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 Key Realty
Investment Insights
Based on property information with market context.
This is a spacious, updated commercial property currently used as a body shop. The property features upgraded facilities including two offices, two restrooms, and a paint room equipped with a fan system. There are four garage doors facilitating easy entrance and exit. A large parking lot is available, secured by a security fence. The property is serviced by ADT security. A clean Phase 1 Environmental site assessment was completed in July 2023. The property size is 4,245 square feet.
Key Highlights
- Large parking lot with security fence
- Four garage doors for easy entrance and exit
- Upgraded with two offices, two restrooms, and paint room with fan system
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
$48,941
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
7.65%
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%
$978,820
$978.8K
Cap Rate 7%
$699,157
$699.2K
Cap Rate 9%
$543,789
$543.8K
Market Conditions
NOI Build-Up for 4,245 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
$76.4K $18.00/SF
− Vacancy
−$6.5K −$1.53/SF
EGI
$69.9K $16.47/SF
− OpEx
−$21.0K −$4.94/SF
NOI
$48.9K $11.53/SF
Area
Columbus, OH
Vacancy
8.50%
Lease Rate
$18.00 /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%
$978,820
Cap Rate 7%
$699,157
Cap Rate 9%
$543,789
Alternative Uses
Best Use
Retail
$699.2K
$611.8K – $815.7K
NOI $48,941 @ 7.0% cap · market cap 7.65%
Second Best
Industrial
$239.8K
$209.8K – $279.8K
NOI $16,785 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$884.7K
$774.1K – $1.03M
NOI $61,928 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43211, OH
23,160
Population
9,956
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
77%
High-School Grad
4.7 sq mi
ZIP Area
4,928
Density / Sq Mi
$38,715
Median Household Income
$28,601
Median Earnings
$1,057
Median Rent
$91,600
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 Retail in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Auto shop - Spacious, updated commercial property with parking and security fence.
Where is this auto shop located?
The property is located at 1664 E Hudson Street Columbus, OH.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Large parking lot with security fence; Four garage doors for easy entrance and exit; Upgraded with two offices, two restrooms, and paint room with fan system
