Two-Storefront Retail
For Sale
$500,000
2390 Broad Street, Columbus, OH 43204
Historic commercial building with on-site parking and space suited to retail, office, or mixed-use concepts.
Property Size2,508 SF
Price / SF$199.36
Days on Market8
Property Features for 2390 Broad Street
General Information
Standard status
Active
Size
2,508 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,678
Amenities
5 Parking Spaces.
Building Details
Year Built
1925
Listing Agency:
Allure Realty
(614) 312-5170
Listed By:
David Servin
(614) 312-5170
Source:
Xome
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 30 at 1:28PM
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 Allure Realty
Investment Insights
Based on property information with market context.
Built in 1925, this 2,508-square-foot commercial property contains two retail storefronts and five parking spaces. The building supports a range of commercial configurations, including retail, office, and mixed-use concepts, giving users flexibility within an established structure.
The property is located at 2390 Broad Street in Columbus, Ohio, within the Hilltop corridor. Its position along Broad Street provides street exposure, while nearby redevelopment activity and access to major highways add connectivity to the surrounding area. The combination of storefront layout, existing parking, and established commercial setting creates a practical option for an owner-user or investor evaluating retail-oriented space.
The property is located at 2390 Broad Street in Columbus, Ohio, within the Hilltop corridor. Its position along Broad Street provides street exposure, while nearby redevelopment activity and access to major highways add connectivity to the surrounding area. The combination of storefront layout, existing parking, and established commercial setting creates a practical option for an owner-user or investor evaluating retail-oriented space.
Key Highlights
- 2,508‑square‑foot commercial property with two retail storefronts
- Five on‑site parking spaces
- Built in 1925
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
$28,915
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
5.78%
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%
$578,300
$578.3K
Cap Rate 7%
$413,071
$413.1K
Cap Rate 9%
$321,278
$321.3K
Market Conditions
NOI Build-Up for 2,508 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
$45.1K $18.00/SF
− Vacancy
−$3.8K −$1.53/SF
EGI
$41.3K $16.47/SF
− OpEx
−$12.4K −$4.94/SF
NOI
$28.9K $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%
$578,300
Cap Rate 7%
$413,071
Cap Rate 9%
$321,278
Alternative Uses
Best Use
Retail
$413.1K
$361.4K – $481.9K
NOI $28,915 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.7K
$457.4K – $609.8K
NOI $36,588 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43204, OH
42,315
Population
19,286
Households
2.2
Avg Household Size
35
Median Age
25%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
4,502
Density / Sq Mi
$59,158
Median Household Income
$38,610
Median Earnings
$1,206
Median Rent
$170,900
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic commercial building with on-site parking and space suited to retail, office, or mixed-use concepts.
Where is this storefront property located?
The property is located at 2390 Broad Street Columbus, OH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,508‑square‑foot commercial property with two retail storefronts; Five on‑site parking spaces; Built in 1925
