Heavy-Duty Manufacturing
For Sale
$3,614,000
2591 Harrison Rd, Columbus, OH 43204
Office and warehouse areas support industrial operations with 480V three-phase power and heavy-duty floor construction.
Property Size26,187 SF
Lot Size1.82 Acres
Price / SF$138.01
Days on Market38
Property Features for 2591 Harrison Rd
General Information
Standard status
Active
Size
26,187 SF
Lot size
1.82 Acres
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
2,100 SF
Dock-High Doors
6
Drive-In Doors
6
Voltage
480 V
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Building Details
Year Built
1953
Year Renovated
2001
Buildings
1
Building Size
26,187 SF
Listing Agency:
Koon Property Group
(614) 561-8338
Listed By:
James T Koon · License #2010003803
Source:
Thetomlinson
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 11:38AM
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 Koon Property Group
Investment Insights
Based on property information with market context.
This 26,187-square-foot manufacturing facility combines 2,100 square feet of office space with a predominantly climate-controlled warehouse. The building includes 18-inch concrete floors, 3-phase 480V electrical service, a built-in 10,000-pound crane, and an in-floor weight scale. Clear heights range from 14 to 16 feet.
Shipping functions are supported by six dock doors with load levelers and six drive-in doors, including a full drive-through door. A fenced yard provides secure outdoor storage. Constructed in 1953 with additions completed in 2001, the property occupies 1.818 acres at 2591 Harrison Road in Columbus. M zoning and immediate access to I-70 support its industrial setting.
Shipping functions are supported by six dock doors with load levelers and six drive-in doors, including a full drive-through door. A fenced yard provides secure outdoor storage. Constructed in 1953 with additions completed in 2001, the property occupies 1.818 acres at 2591 Harrison Road in Columbus. M zoning and immediate access to I-70 support its industrial setting.
Key Highlights
- 26,187‑square‑foot manufacturing building on 1.818 acres
- 2,100 square feet of office space within the facility
- 18‑inch concrete floors with an in‑floor weight scale
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
$260,225
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
7.20%
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%
$5,204,500
$5.2M
Cap Rate 7%
$3,717,500
$3.7M
Cap Rate 9%
$2,891,389
$2.9M
Market Conditions
NOI Build-Up for 26,187 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
$439.9K $16.80/SF
− Vacancy
−$39.6K −$1.51/SF
EGI
$400.3K $15.29/SF
− OpEx
−$140.1K −$5.35/SF
NOI
$260.2K $9.94/SF
Area
Columbus, OH
Vacancy
9.00%
Lease Rate
$16.80 /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%
$5,204,500
Cap Rate 7%
$3,717,500
Cap Rate 9%
$2,891,389
Alternative Uses
Best Use
Flex RnD
$3.72M
$3.25M – $4.34M
NOI $260,225 @ 7.0% cap · market cap 7.20%
Second Best
Warehouse
$1.80M
$1.57M – $2.10M
NOI $125,735 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$5.46M
$4.78M – $6.37M
NOI $382,025 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
6
Dock-high doors
6
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
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 Industrial in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Office and warehouse areas support industrial operations with 480V three-phase power and heavy-duty floor construction.
Where is this manufacturing property located?
The property is located at 2591 Harrison Rd Columbus, OH.
What is the asking price?
The asking price for this property is $3,614,000.
What are key features of this property?
This property features: 26,187‑square‑foot manufacturing building on 1.818 acres; 2,100 square feet of office space within the facility; 18‑inch concrete floors with an in‑floor weight scale
