Residential Income Triplex
For Sale
$599,000
2931-2935 McGuffey Rd, Columbus, OH 43224
Two triplex buildings deliver six residential units on a 0.23-acre R3-zoned parcel.
Property Size6,180 SF
Lot Size0.23 Acres
Price / SF$96.93
Days on Market96
Property Features for 2931-2935 McGuffey Rd
General Information
Standard status
Active
Size
6,180 SF
Lot size
0.23 Acres
Property subtype
Multi-Family
Zoning
R3
Site & Location
Neighborhood
North Linden
Highway Access
Yes
Additional Details
Multifamily Units
6
Building Details
Building Size
6,180 SF
Year Built
1973
Units
6
Listing Agency:
NAI Ohio Equities
Listed By:
Bastian Gehrer · License #2023003682
(484) 707-3527
Source:
Commercialcafe
Added: Jul 26
Changed: Oct 25
Last Checked: Oct 28 at 5:17AM
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 NAI Ohio Equities
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
2931–2935 McGuffey Road is a 6,180 SF multifamily property comprised of two triplex buildings with six total residential units. The triplex buildings are each approximately 3,090 SF and sit together on a 0.23-acre parcel.
The property is located in Columbus’ North Linden neighborhood, with quick access to I-71, SR-161, and Downtown Columbus. It is also positioned just minutes from The Ohio State University, with nearby retail corridors along Cleveland Avenue and Morse Road.
Zoned Residential (R3), the property offers a straightforward multifamily configuration across the two attached triplex structures.
The property is located in Columbus’ North Linden neighborhood, with quick access to I-71, SR-161, and Downtown Columbus. It is also positioned just minutes from The Ohio State University, with nearby retail corridors along Cleveland Avenue and Morse Road.
Zoned Residential (R3), the property offers a straightforward multifamily configuration across the two attached triplex structures.
Key Highlights
- 6,180 SF multifamily property built in 1973 on a 0.23‑acre parcel
- Six total units across two triplex buildings (each approximately 3,090 SF)
- Zoned Residential (R3) for multifamily use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,623
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,052,460
$1.1M
Cap Rate 7%
$751,757
$751.8K
Cap Rate 9%
$584,700
$584.7K
Market Conditions
NOI Build-Up for 6,180 SF
Gross rent
$80.8K $13.08/SF
− Vacancy
−$5.7K −$0.92/SF
EGI
$75.2K $12.16/SF
− OpEx
−$22.6K −$3.65/SF
NOI
$52.6K $8.52/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,052,460
Cap Rate 7%
$751,757
Cap Rate 9%
$584,700
Alternative Uses
Best Use
Multifamily LT 5
$751.8K
$657.8K – $877.1K
NOI $52,623 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$604.7K
$529.2K – $705.5K
NOI $42,332 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,156 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 43224, OH
43,544
Population
19,238
Households
2.3
Avg Household Size
34
Median Age
22%
College-Educated
79%
High-School Grad
8.3 sq mi
ZIP Area
5,246
Density / Sq Mi
$50,934
Median Household Income
$34,966
Median Earnings
$1,025
Median Rent
$159,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Two triplex buildings deliver six residential units on a 0.23-acre R3-zoned parcel.
Where is this triplex located?
The property is located at 2931-2935 McGuffey Rd Columbus, OH.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 6,180 SF multifamily property built in 1973 on a 0.23‑acre parcel; Six total units across two triplex buildings (each approximately 3,090 SF); Zoned Residential (R3) for multifamily use
