Industrial Warehouse
For Sale
Contact for pricing
185-195 E 5th Ave, Columbus, OH 43201
Established industrial building with flexible warehouse space and on-site parking.
Property Size12,000 SF
Lot Size0.42 Acres
Price / SF$133.33
Days on Market8
Property Features for 185-195 E 5th Ave
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
15
Lot size
0.42 Acres
Property subtype
INDUSTRIAL
Additional Details
Opportunity Zone
Yes
Warehouse Space
12,000 SF
Building Details
Year Built
1961
Building Size
12,000 SF
Listing Agency:
The Robert Weiler Company
(614) 937-3658
Listed By:
Alex Marsh · License #2013002225
(614) 937-3658
Source:
Moodyscre
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 30 at 11:29PM
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 The Robert Weiler Company
Investment Insights
Based on property information with market context.
The property comprises a warehouse facility of approximately 12,000 +/- SF on approximately 0.42 acres. Built in 1961, the building provides functional industrial space that can support storage, distribution, light manufacturing, contractor operations, and service businesses. Fifteen parking spaces are positioned along the west side of the building for employee and visitor access.
Located at 185-195 E 5th Ave in Columbus, Ohio, the property sits within an established industrial and commercial corridor near downtown Columbus and major transportation routes. The site is also within an Ohio Qualified Opportunity Zone, a designation relevant to investors evaluating continued industrial use or future modernization.
Located at 185-195 E 5th Ave in Columbus, Ohio, the property sits within an established industrial and commercial corridor near downtown Columbus and major transportation routes. The site is also within an Ohio Qualified Opportunity Zone, a designation relevant to investors evaluating continued industrial use or future modernization.
Key Highlights
- 12,000 +/- SF warehouse facility on approximately 0.42 acres
- Built in 1961 with functional industrial space
- 15 on‑site parking spaces along the west side of the building
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
$57,617
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
3.60%
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%
$1,152,340
$1.2M
Cap Rate 7%
$823,100
$823.1K
Cap Rate 9%
$640,189
$640.2K
Market Conditions
NOI Build-Up for 12,000 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
$73.4K $6.12/SF
− Vacancy
−$5.7K −$0.47/SF
EGI
$67.8K $5.65/SF
− OpEx
−$10.2K −$0.85/SF
NOI
$57.6K $4.80/SF
Area
Columbus, OH
Vacancy
7.70%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
15.00%
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%
$1,152,340
Cap Rate 7%
$823,100
Cap Rate 9%
$640,189
Alternative Uses
Best Use
Warehouse
$823.1K
$720.2K – $960.3K
NOI $57,617 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,060 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,286
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Established industrial building with flexible warehouse space and on-site parking.
Where is this warehouse located?
The property is located at 185-195 E 5th Ave 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: 12,000 +/- SF warehouse facility on approximately 0.42 acres; Built in 1961 with functional industrial space; 15 on‑site parking spaces along the west side of the building
