1687 Oak St Unit 1685, Columbus, OH 43205

Building Details

Year Built 1900 More

Buildings 1 More

Stories 2 More

Listing Agency: Red 1 Realty

Listed By: Ines Hilaman · License #2018005331 Show Phone

Source: Thetomlinson

Added: Sep 18 Changed: Oct 25 Last Checked: Oct 7 at 1:19PM

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Investment Insights

Based on property information with market context.

This 4,793 SF mixed-use building combines a commercial first floor with two second-floor apartments. The 2,458 SF commercial area is being delivered as a white-box suite, while active renovation includes a fire-rated ceiling and residential plumbing upgrades. Exterior renovation is complete. The residential portion includes a 960 SF, two-bedroom, one-bath apartment and a 1,369 SF, three-bedroom, two-bath apartment.

A council variance permits retail, office, and eating-and-drinking uses. The property is located at 1687 Oak St Unit 1685 in Columbus, Ohio, with the corner setting providing access to on-street parking along Oak and Morrison. There is no off-street parking. A CRA remains in place for the residential improvements through tax year 2034.

Key Highlights

• 4,793 SF mixed‑use building with commercial and residential components
• 2,458 SF first‑floor commercial area delivered as a white‑box suite
• Two second‑floor apartments: 960 SF and 1,369 SF

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,258

Cap Rate

5.82%

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

Is this asking price fair?

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 (±1% cap)

NOI $55,258 @ 7.0% cap · market cap 5.82%

Second Best

Mixed Use

$785.7K

$687.5K – $916.7K (±1% cap)

NOI $55,000 @ 7.0% cap · market cap 5.79%

Theoretical Best

Office A

$998.9K

$874.0K – $1.17M (±1% cap)

NOI $69,922 @ 7.0% cap · market cap 7.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom HVAC Service Building Supply Electrical Service Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

$111 Jul

$157 Aug

$198 Sep

$174 Oct

Properties on Market for Mixed-use properties in Columbus

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Columbus, OH

5.4% 2019

5.2% 2020

4% 2021

3.8% 2022

3.5% 2023

3.8% 2024

4.1% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Renovated commercial space accompanies two residential units, with retail, office, and eating-and-drinking uses authorized by variance.

Where is this mixed-use property located?

The property is located at 1687 Oak St Unit 1685 Columbus, OH.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 4,793 SF mixed‑use building with commercial and residential components; 2,458 SF first‑floor commercial area delivered as a white‑box suite; Two second‑floor apartments: 960 SF and 1,369 SF