Updated Office Condo in German
For Sale
$549,000
169 E Livingston Ave, Columbus, OH 43215
Well-maintained office condo with flexible configuration and recent updates.
Property Size2,784 SF
Price / SF$197.20
Days on Market207
Property Features for 169 E Livingston Ave
General Information
Standard status
Active
Size
2,784 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,784 SF
Year Built
1970
Listing Agency:
NAI | Ohio Equities
(614) 218-3520
Listed By:
Peter Merkle · License #439173
(614) 218-3520
Source:
Ohioequities
Added: Jan 27
Changed: Aug 7
Last Checked: Aug 21 at 4:16AM
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 NAI | Ohio Equities
Investment Insights
Based on property information with market context.
Located in historic German Village, this office condo at 169 E Livingston Avenue offers a professional office opportunity at the gateway to downtown Columbus. The brick building, with approximately 2,784 square feet, features flexible configuration options across three levels, suitable for owner-occupants or investment. The property includes 4 dedicated parking spaces, with additional street parking available. Recent updates in 2017 include new flooring, paint, bathrooms, and LED lighting, plus a new front door, front windows, and air conditioner within the last year. The property is move-in ready. The layout includes private offices, common areas, a break room, a conference room and 2 restrooms. A single office on the upper level is currently leased to a month-to-month tenant for $550 per month. Situated at the southeast corner of E. Livingston Avenue and S. 4th Street, on the edge of Columbus's Central Business District, the location provides access to major transportation corridors including I-70, I-71, and U.S. Route 23. It is located near Nationwide Children's Hospital, Grant Medical Center, and Columbus State Community College, with walkable access to restaurants, shops, parks, the Brewery District, and downtown Columbus amenities. The property is part of the German Village Professional Center Condos, with a condo fee of $100 per month covering landscaping, snow removal, lot paving, and exterior lighting. The water bill is split with a neighboring property via a shared meter. It is located 2 blocks from the Franklin County Municipal Court House, making it suitable for legal professionals and other service providers.
Key Highlights
- Prime location in historic German Village at the gateway to downtown Columbus, offering easy access to major transportation, amenities, and the Central Business District.
- Turn‑key, recently updated office condo (new flooring, paint, bathrooms, LED lighting, front windows, front door, and air conditioner) ready for immediate occupancy.
- Flexible configuration options across three levels (±2,784 SF) suitable for owner‑occupants or multi‑tenant use.
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
$32,164
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
5.86%
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%
$643,280
$643.3K
Cap Rate 7%
$459,486
$459.5K
Cap Rate 9%
$357,378
$357.4K
Market Conditions
NOI Build-Up for 2,784 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
$55.1K $19.80/SF
− Vacancy
−$12.2K −$4.40/SF
EGI
$42.9K $15.40/SF
− OpEx
−$10.7K −$3.85/SF
NOI
$32.2K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$643,280
Cap Rate 7%
$459,486
Cap Rate 9%
$357,378
Alternative Uses
Best Use
Office B
$459.5K
$402.1K – $536.1K
NOI $32,164 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$580.2K
$507.7K – $676.9K
NOI $40,614 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office condo with flexible configuration and recent updates.
Where is this office units located?
The property is located at 169 E Livingston Ave Columbus, OH.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Prime location in historic German Village at the gateway to downtown Columbus, offering easy access to major transportation, amenities, and the Central Business District.; Turn‑key, recently updated office condo (new flooring, paint, bathrooms, LED lighting, front windows, front door, and air conditioner) ready for immediate occupancy.; Flexible configuration options across three levels (±2,784 SF) suitable for owner‑occupants or multi‑tenant use.
