Updated Duplex Community Near
For Sale
Contact for pricing
Pending
1773-1821 W Mound St, Columbus, OH 43223
Renovated apartment community near downtown Columbus with long-term upside.
Property Size12,760 SF
Days on Market202
Property Features for 1773-1821 W Mound St
General Information
Standard status
Pending
Size
12,760 SF
Class
C
Property subtype
Multifamily
Occupancy
90%
Investment Type
Value Add
Net Operating Income
$120,240
Building Details
Year Built
1950
Year Renovated
2025
Buildings
10
Stories
1
Units
20
Listing Agency:
SVN | Wilson Commercial Group, LLC
(614) 747-2052
Listed By:
Seth Asman · License #2016004115
Source:
Crexi
Added: Feb 10
Changed: Aug 16
Last Checked: Aug 31 at 1:29AM
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 SVN | Wilson Commercial Group, LLC
Investment Insights
Based on property information with market context.
This apartment community, located minutes from downtown Columbus, features 10 single-story ranch-style duplexes. Each unit offers private entrances and spacious layouts, providing a low-density living environment. Recent renovations include interior updates and improvements to the plumbing and sewer systems. Situated on an elevated site, the property offers views of the Columbus skyline. The property is located in a rapidly evolving corridor, positioned for continued neighborhood revitalization, rent growth, and long-term appreciation. The location is within the Columbus Metropolitan Statistical Area, which is known for economic growth and a stable job market. Columbus, Ohio, is experiencing growth in population, wages, and jobs. The city is home to corporate headquarters and hubs such as Nationwide Insurance, The Ohio State University, Anduril, Amazon, Meta (Facebook), Google, Intel, Wendys International, The Limited Brands, Cardinal Health, American Electric Power, and JP Morgan Chase. The property size is 12760 square feet. Columbus has stable occupancy rates and a history of rent growth, making it a favorable market for investors.
Key Highlights
- Minutes from downtown Columbus, offering convenient access to employment, entertainment, and transit.
- Recent interior renovations and major plumbing/sewer system improvements ensure stability.
- Features 10 single‑story ranch‑style duplexes with private entrances, offering a desirable alternative to traditional multifamily living.
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
$108,652
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
6.79%
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%
$2,173,040
$2.2M
Cap Rate 7%
$1,552,171
$1.6M
Cap Rate 9%
$1,207,244
$1.2M
Market Conditions
NOI Build-Up for 12,760 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
$166.9K $13.08/SF
− Vacancy
−$11.7K −$0.92/SF
EGI
$155.2K $12.16/SF
− OpEx
−$46.6K −$3.65/SF
NOI
$108.7K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /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%
$2,173,040
Cap Rate 7%
$1,552,171
Cap Rate 9%
$1,207,244
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,652 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,404 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,147 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated apartment community near downtown Columbus with long-term upside.
Where is this duplex located?
The property is located at 1773-1821 W Mound St Columbus, OH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Minutes from downtown Columbus, offering convenient access to employment, entertainment, and transit.; Recent interior renovations and major plumbing/sewer system improvements ensure stability.; Features 10 single‑story ranch‑style duplexes with private entrances, offering a desirable alternative to traditional multifamily living.
