Warehouse-Office Flex
For Sale
$1,575,000
1885 - 1895 S High St, Columbus, OH 43207
Flex warehouse and office building with fenced outdoor storage, drive-in door, and a large paved parking lot.
Property Size13,200 SF
Price / SF$119.32
Days on Market105
Property Features for 1885 - 1895 S High St
General Information
Standard status
Active
Size
13,200 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
1
Amenities
fenced outdoor storage
dedicated street monument sign
Building Details
Building Size
13,200 SF
Year Built
1947
Listing Agency:
NAI Ohio Equities, LLC
(614) 570-7804
Listed By:
John Mally · License #2013004679
(614) 570-7804
Source:
Ohioequities
Added: May 19
Changed: Aug 31
Last Checked: Aug 31 at 3:28PM
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, LLC
Investment Insights
Based on property information with market context.
1885–1895 S High St offers a warehouse-and-office flex configuration within a single commercial building, supported by fenced-in outdoor storage. The space includes a drive-in garage door on the warehouse portion, and the clear span warehouse area is suited to a variety of industrial and service uses such as auto, light industrial, storage, or service. The property also features a large paved lot with abundant on-site parking.
The site is located on the north side of the Steelton-Reeb-Hosack neighborhood and provides direct access to S High Street through two curb cuts. It offers quick access to SR 104 and I-71, with convenient access to downtown and regional transportation infrastructure.
The building presents high-visibility frontage on South High Street and includes a dedicated street monument sign. The property is described as zoned for commercial use, with specific zoning district to be verified.
The site is located on the north side of the Steelton-Reeb-Hosack neighborhood and provides direct access to S High Street through two curb cuts. It offers quick access to SR 104 and I-71, with convenient access to downtown and regional transportation infrastructure.
The building presents high-visibility frontage on South High Street and includes a dedicated street monument sign. The property is described as zoned for commercial use, with specific zoning district to be verified.
Key Highlights
- 13,200 SF commercial building (built 1947) with high‑visibility frontage on S. High Street.
- Fenced‑in outdoor storage plus a large paved lot with abundant on‑site parking.
- Flexible interior layout for retail, showroom, office, warehouse, or flex conversion.
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
$142,414
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
9.04%
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%
$2,848,280
$2.8M
Cap Rate 7%
$2,034,486
$2.0M
Cap Rate 9%
$1,582,378
$1.6M
Market Conditions
NOI Build-Up for 13,200 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
$288.3K $21.84/SF
− Vacancy
−$69.2K −$5.24/SF
EGI
$219.1K $16.60/SF
− OpEx
−$76.7K −$5.81/SF
NOI
$142.4K $10.79/SF
Area
ZIP 43207
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
35.00%
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%
$2,848,280
Cap Rate 7%
$2,034,486
Cap Rate 9%
$1,582,378
Alternative Uses
Best Use
Warehouse
$2.66M
$2.33M – $3.10M
NOI $186,234 @ 7.0% cap · market cap 11.82%
Second Best
Industrial
$2.19M
$1.92M – $2.56M
NOI $153,369 @ 7.0% cap · market cap 9.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse and office building with fenced outdoor storage, drive-in door, and a large paved parking lot.
Where is this flex space located?
The property is located at 1885 - 1895 S High St Columbus, OH.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 13,200 SF commercial building (built 1947) with high‑visibility frontage on S. High Street.; Fenced‑in outdoor storage plus a large paved lot with abundant on‑site parking.; Flexible interior layout for retail, showroom, office, warehouse, or flex conversion.
