Mixed-Use Building with
1685 1687 OAK ST COLUMBUS OH 43205, Columbus, OH 43205
For Sale
Contact for pricing
A ground-floor commercial suite is paired with two upper-level apartments, one leased and one vacant.
Property Size4,793 SF
Price / SF$187.57
Days on Market26
Property Features for 1685 1687 OAK ST COLUMBUS OH 43205
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Corner Location
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Tenant in Place
Building Details
Buildings
Stories
Listing Agency:
Red 1 Realty
Listed By:
Messiva Amer-Yahia · License #OH 2017005862
(740) 972-8967
Source:
Crexi
Added: Oct 15
Changed: Nov 8
Last Checked: Nov 8 at 4:25PM
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 Red 1 Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This corner mixed-use property combines a 2,458-square-foot commercial first floor with two apartments above. The commercial area is offered as a white-box delivery. Exterior renovation is complete, while work on the fire-rated first-floor ceiling and residential plumbing remains in progress. One apartment measures 960 square feet and has two bedrooms and one bathroom; it is leased through May 31, 2027. The other is 1,369 square feet, with three bedrooms and two bathrooms, and is vacant.
A council variance permits retail, office, and eating-and-drinking uses. A CRA remains in place on the residential improvements through tax year 2034. There is no off-street parking; on-street parking is available on Oak and Morrison.
A council variance permits retail, office, and eating-and-drinking uses. A CRA remains in place on the residential improvements through tax year 2034. There is no off-street parking; on-street parking is available on Oak and Morrison.
Key Highlights
- 2,458‑square‑foot ground‑floor commercial space offered as a white box
- Two upper‑floor apartments: one 960‑square‑foot, 2‑bedroom unit and one 1,369‑square‑foot, 3‑bedroom unit
- The 960‑square‑foot apartment is leased through May 31, 2027; the 1,369‑square‑foot apartment is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,258
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,160
$1.1M
Cap Rate 7%
$789,400
$789.4K
Cap Rate 9%
$613,978
$614.0K
Market Conditions
NOI Build-Up for 4,793 SF
Gross rent
$86.3K $18.00/SF
− Vacancy
−$7.3K −$1.53/SF
EGI
$78.9K $16.47/SF
− OpEx
−$23.7K −$4.94/SF
NOI
$55.3K $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 Rate 5%
$1,105,160
Cap Rate 7%
$789,400
Cap Rate 9%
$613,978
Alternative Uses
Best Use
Retail
$789.4K
$690.7K – $921.0K
NOI $55,258 @ 7.0% cap · market cap 6.15%
Second Best
Mixed Use
$785.7K
$687.5K – $916.7K
NOI $55,000 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$998.9K
$874.0K – $1.17M
NOI $69,922 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Columbus, OH
Properties on Market for Mixed-use properties in Columbus
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor commercial suite is paired with two upper-level apartments, one leased and one vacant.
Where is this mixed-use property located?
The property is located at 1685 1687 OAK ST COLUMBUS OH 43205 Columbus, OH.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,458‑square‑foot ground‑floor commercial space offered as a white box; Two upper‑floor apartments: one 960‑square‑foot, 2‑bedroom unit and one 1,369‑square‑foot, 3‑bedroom unit; The 960‑square‑foot apartment is leased through May 31, 2027; the 1,369‑square‑foot apartment is vacant
