High-Visibility Multi-Tenant Commercial
For Sale
Contact for pricing
Pending
2360 North National Road, Columbus, IN 47201
High-visibility commercial building with three tenants in place, available for sale or lease.
Property Size3,735 SF
Days on Market60
Property Features for 2360 North National Road
General Information
Standard status
Pending
Size
3,735 SF
Class
C
Total Parking Spaces
8
Property subtype
Retail, Office
Zoning
Retail/ Office
Lease Type
Gross
Building Details
Year Built
1964
Buildings
1
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
EXP REALTY - IN HOMES TODAY
Listed By:
The Wischmeier Group · License #RB14029982
(404) 689-4408
Source:
Crexi
Added: Jul 9
Changed: Sep 2
Last Checked: Aug 31 at 10:02PM
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 EXP REALTY - IN HOMES TODAY
Investment Insights
Based on property information with market context.
2360 North National Road in Columbus, IN offers a high-visibility commercial building available for sale or for lease. The property is currently operating with three tenants in place, creating an opportunity for an investor seeking income-producing occupancy or an owner-occupant looking to take part in an already established commercial setup.
Located on one of the busiest corridors in town, the building is positioned for strong day-to-day exposure. The mix of storefront properties and office spaces listed under the offering suggests flexibility in how the building can serve commercial needs.
For buyers or tenants evaluating established commercial space, this asset provides the benefit of in-place tenancy alongside visibility on a heavily traveled thoroughfare.
Located on one of the busiest corridors in town, the building is positioned for strong day-to-day exposure. The mix of storefront properties and office spaces listed under the offering suggests flexibility in how the building can serve commercial needs.
For buyers or tenants evaluating established commercial space, this asset provides the benefit of in-place tenancy alongside visibility on a heavily traveled thoroughfare.
Key Highlights
- High‑visibility commercial building on a busy corridor in Columbus, IN
- Available for sale or for lease
- Year built: 1964
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
$25,228
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
5.05%
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%
$504,560
$504.6K
Cap Rate 7%
$360,400
$360.4K
Cap Rate 9%
$280,311
$280.3K
Market Conditions
NOI Build-Up for 3,735 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
$42.6K $11.40/SF
− Vacancy
−$8.9K −$2.39/SF
EGI
$33.6K $9.01/SF
− OpEx
−$8.4K −$2.25/SF
NOI
$25.2K $6.75/SF
Area
Bartholomew County, IN
Vacancy
21.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
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%
$504,560
Cap Rate 7%
$360,400
Cap Rate 9%
$280,311
Alternative Uses
Best Use
Office B
$360.4K
$315.4K – $420.5K
NOI $25,228 @ 7.0% cap · market cap 5.05%
Second Best
Retail
$341.0K
$298.4K – $397.8K
NOI $23,868 @ 7.0% cap · market cap 4.77%
Theoretical Best
Healthcare Medical
$722.1K
$631.8K – $842.4K
NOI $50,544 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
921
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47201, IN
45,969
Population
20,924
Households
2.2
Avg Household Size
36
Median Age
36%
College-Educated
92%
High-School Grad
201.2 sq mi
ZIP Area
228
Density / Sq Mi
$82,667
Median Household Income
$46,243
Median Earnings
$1,159
Median Rent
$217,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Flowers From the Woods — 1550 Central Ave, Columbus, IN 47201
- Kroger Floral — 3060 N National Rd, Columbus, IN 47201
Frequently Asked Questions
What type of property is this?
Storefront property - High-visibility commercial building with three tenants in place, available for sale or lease.
Where is this storefront property located?
The property is located at 2360 North National Road Columbus, IN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: High‑visibility commercial building on a busy corridor in Columbus, IN; Available for sale or for lease; Year built: 1964
