1664 W 1st Ave, Columbus, OH
Fully leased retail center in Columbus, Ohio's Grandview Heights.
- Added:
- Dec 27, 2024
- Days on Market:
- 534
- Last Refresh:
- May 20 at 8:51 pm
Property Features for 1664 W 1st Ave
General Information
- Standard status
- Active
- Size
- 9,525 SF
- Lot size
- 0.24 Acres
- Property subtype
- RETAIL
Listing agent Brad L Kitchen, SIOR (614) 327-4366
Listing office Alterra Real Estate Advisors (614) 327-4366
Listing date Dec 27, 2024
Source Moodyscre
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 Alterra Real Estate Advisors
HighLights
- Fully leased 9,525 SF retail center in Grandview Heights.
- Priced 20% below market average sales price.
- Upside potential from below market rents.
- Opportunity to self‑manage for increased return.
- Tenants paid for their own improvements.
- New roof.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $171.5k | $18.00 |
| − Vacancy | −$14.6k | −$1.53 |
| EGI | $156.9k | $16.47 |
| − OpEx | −$47.1k | −$4.94 |
| NOI | $109.8k | $11.53 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Star Plaza — 1600 W 5th Ave, Columbus, OH 43212
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Delaware
- State
- Ohio
- Longitude
- -83.0494
- Latitude
- 39.9823