Renovated Creative Office
For Sale
$849,000
275 College Street Groveport, Groveport, OH 43125
Turnkey renovated office with workstations, private conference room with Zoom, kitchenette, and ample front-and-rear parking.
Property Size3,600 SF
Price / SF$235.83
Days on Market48
Property Features for 275 College Street Groveport
General Information
Standard status
Active
Size
3,600 SF
Taxes and HOA fees
Annual Taxes
$8,302
Amenities
No
Public
0.28
3600.0
Building Details
Building Size
3,600 SF
Year Built
1900
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Yashar Bayramzade
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 22 at 3:42AM
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 Yashar Bayramzade
Investment Insights
Based on property information with market context.
This renovated office property offers more than 3,600 square feet designed for flexible, workplace use. The interior includes individual workstations, separate men’s and women’s restrooms, and a conference room intended for private meetings, equipped with Zoom capabilities. A fully appointed kitchenette features a dishwasher and garbage disposal for daily convenience. Additional flex space is currently used as an architectural product library, with extra workstations available to support a range of business functions.
Located at 275 College Street in Groveport, Ohio, the property is set up for convenient daily access. Parking is available in both the front and rear, accommodating employees and visitors with on-site convenience.
For buyers or tenants seeking an office environment that balances ready-to-use functionality with flexible interior space, this setup is purpose-built. The combination of dedicated meeting space, separate restroom facilities, and a dedicated kitchenette supports day-to-day operations. The included flex area and additional workstations allow for adaptable use within the office footprint, whether for project-based teams or specialty workspace needs. The purchase also includes an additional parcel at 283 College Street, with lot dimensions of 39' x 154'.
Located at 275 College Street in Groveport, Ohio, the property is set up for convenient daily access. Parking is available in both the front and rear, accommodating employees and visitors with on-site convenience.
For buyers or tenants seeking an office environment that balances ready-to-use functionality with flexible interior space, this setup is purpose-built. The combination of dedicated meeting space, separate restroom facilities, and a dedicated kitchenette supports day-to-day operations. The included flex area and additional workstations allow for adaptable use within the office footprint, whether for project-based teams or specialty workspace needs. The purchase also includes an additional parcel at 283 College Street, with lot dimensions of 39' x 154'.
Key Highlights
- More than 3,600 SF of renovated office space formerly a church
- Includes individual workstations plus an additional flex space with extra workstations
- Private conference room with Zoom capabilities
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
$44,323
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
5.22%
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%
$886,460
$886.5K
Cap Rate 7%
$633,186
$633.2K
Cap Rate 9%
$492,478
$492.5K
Market Conditions
NOI Build-Up for 3,600 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
$77.8K $21.60/SF
− Vacancy
−$18.7K −$5.18/SF
EGI
$59.1K $16.42/SF
− OpEx
−$14.8K −$4.10/SF
NOI
$44.3K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /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%
$886,460
Cap Rate 7%
$633,186
Cap Rate 9%
$492,478
Alternative Uses
Best Use
Office B
$633.2K
$554.0K – $738.7K
NOI $44,323 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$733.9K
$642.2K – $856.3K
NOI $51,376 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 43125, OH
14,295
Population
6,206
Households
2.3
Avg Household Size
41
Median Age
25%
College-Educated
95%
High-School Grad
31.5 sq mi
ZIP Area
454
Density / Sq Mi
$82,376
Median Household Income
$49,023
Median Earnings
$1,193
Median Rent
$233,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Turnkey renovated office with workstations, private conference room with Zoom, kitchenette, and ample front-and-rear parking.
Where is this office building located?
The property is located at 275 College Street Groveport Groveport, OH.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: More than 3,600 SF of renovated office space formerly a church; Includes individual workstations plus an additional flex space with extra workstations; Private conference room with Zoom capabilities
