Three-Level Duplex
For Sale
$239,900
2219 W Broad St, Columbus, OH 43223
Commercially zoned property with a two-unit residential layout and adaptable interior configuration.
Property Size1,608 SF
Price / SF$149.19
Days on Market58
Property Features for 2219 W Broad St
General Information
Standard status
Active
Size
1,608 SF
Zoning
UCT
Building Details
Year Built
1910
Listing Agency:
Coldwell Banker Realty
(614) 660-5959
Listed By:
Katharine A Blades
Source:
Dreamcolumbus
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 25 at 4:26AM
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 1,608-square-foot duplex was built in 1910 and offers a multi-level residential arrangement. The main level includes one bedroom and one bathroom, while the upper level contains two bedrooms and a full bathroom. A bonus loft occupies the third floor, adding another flexible interior area.
The property is located at 2219 W Broad Street in Columbus, along the West Broad Street corridor. It carries UCT commercial zoning and is positioned near the bus station at West Broad and Whitethorne. West High School and Cody Park are also nearby. The existing duplex configuration provides a defined residential layout within a commercially zoned property.
The property is located at 2219 W Broad Street in Columbus, along the West Broad Street corridor. It carries UCT commercial zoning and is positioned near the bus station at West Broad and Whitethorne. West High School and Cody Park are also nearby. The existing duplex configuration provides a defined residential layout within a commercially zoned property.
Key Highlights
- 1,608‑square‑foot duplex at 2219 W Broad Street
- Main level has 1 bedroom and 1 bathroom
- Upper level includes 2 bedrooms and a full bathroom
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
Multifamily LT 5
$195.6K
$171.2K – $228.2K
NOI $13,692 @ 7.0% cap · market cap 5.71%
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
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 - Commercially zoned property with a two-unit residential layout and adaptable interior configuration.
Where is this duplex located?
The property is located at 2219 W Broad St 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: 1,608‑square‑foot duplex at 2219 W Broad Street; Main level has 1 bedroom and 1 bathroom; Upper level includes 2 bedrooms and a full bathroom
