Mixed-Use Property With Duplex
For Sale
$239,900
2219 W Broad Street, Columbus, OH 43223
Commercially zoned building with flexible occupancy options, parking, and access to nearby public transit.
Property Size1,608 SF
Days on Market26
Property Features for 2219 W Broad Street
General Information
Standard status
Active
Size
1,608 SF
Property subtype
Mixed Use
Zoning
UCT
Taxes and HOA fees
Annual Taxes
$2,196
Building Details
Building Size
1,608 SF
Year Built
1910
Listing Agency:
Coldwell Banker Realty
(614) 940-7038
Listed By:
Katharine A Blades
(614) 940-7038
Source:
Vutech-ruff
Added: Jul 17
Changed: Aug 5
Last Checked: Aug 10 at 9:56AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1910 mixed-use property combines a duplex-style layout with commercial positioning along West Broad Street. The main level includes one bedroom and one bathroom, while the upper level offers two bedrooms, a full bathroom, and a bonus loft on the third floor. The interior is positioned for renovation and customization rather than presented as a finished buildout.
The property is zoned UCT and includes ample parking. Potential concepts identified for the building include residential rental use, retail, food and beverage, professional office, tattoo studio, and daycare operations. A nearby bus station at West Broad and Whitethorne provides public transit access, while West High School and Cody Park are also located nearby. The surrounding corridor is described as a well-traveled commercial stretch with foot traffic and visibility.
The property is zoned UCT and includes ample parking. Potential concepts identified for the building include residential rental use, retail, food and beverage, professional office, tattoo studio, and daycare operations. A nearby bus station at West Broad and Whitethorne provides public transit access, while West High School and Cody Park are also located nearby. The surrounding corridor is described as a well-traveled commercial stretch with foot traffic and visibility.
Key Highlights
- UCT commercial zoning
- Duplex layout with one bedroom and one bathroom on the main level
- Upper level includes two bedrooms, a full bathroom, and a bonus loft on the third floor
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
$18,539
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
7.73%
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%
$370,780
$370.8K
Cap Rate 7%
$264,843
$264.8K
Cap Rate 9%
$205,989
$206.0K
Market Conditions
NOI Build-Up for 1,608 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
$28.9K $18.00/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$26.5K $16.47/SF
− OpEx
−$7.9K −$4.94/SF
NOI
$18.5K $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 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%
$370,780
Cap Rate 7%
$264,843
Cap Rate 9%
$205,989
Alternative Uses
Best Use
Retail
$264.8K
$231.7K – $309.0K
NOI $18,539 @ 7.0% cap · market cap 7.73%
Second Best
Mixed Use
$263.6K
$230.7K – $307.5K
NOI $18,452 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$335.1K
$293.2K – $391.0K
NOI $23,458 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
527
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?
Mixed-use property - Commercially zoned building with flexible occupancy options, parking, and access to nearby public transit.
Where is this mixed-use property located?
The property is located at 2219 W Broad Street Columbus, OH.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: UCT commercial zoning; Duplex layout with one bedroom and one bathroom on the main level; Upper level includes two bedrooms, a full bathroom, and a bonus loft on the third floor
