Renovated Office
New
For Sale
$1,495,000
30-40 E Columbus St and 762 S Pearl St, Columbus, OH 43206
Three-building office property with exposed brick, natural light, and private off-street parking.
Property Size5,049 SF
Price / SF$296.10
Days on Market3
Property Features for 30-40 E Columbus St and 762 S Pearl St
General Information
Standard status
Active
Size
5,049 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
5,049 SF
Year Built
1965
Buildings
3
Listing Agency:
NAI Ohio Equities, LLC
(380) 237-6839
Listed By:
Gabriel Dent · License #439173
(380) 237-6839
Source:
Ohioequities
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 1:01PM
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, LLC
Investment Insights
Based on property information with market context.
This office property comprises three buildings across three parcels, with approximately 5,049 SF of total space. Recent renovations complement historic character with updated improvements, exposed brick, and abundant natural light. The configuration provides flexibility for an owner-user, professional service business, or investor.
The property is located in German Village near dining, retail, and other amenities. It offers private off-street parking and convenient access to I-70 and I-71. Nationwide Children’s Hospital and the Franklin County Courthouse are also nearby. The buildings were constructed in 1965.
The property is located in German Village near dining, retail, and other amenities. It offers private off-street parking and convenient access to I-70 and I-71. Nationwide Children’s Hospital and the Franklin County Courthouse are also nearby. The buildings were constructed in 1965.
Key Highlights
- Three buildings totaling approximately 5,049 SF
- Three parcels included in the property
- Recently renovated office space with exposed brick and abundant natural light
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
$58,333
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
3.90%
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%
$1,166,660
$1.2M
Cap Rate 7%
$833,329
$833.3K
Cap Rate 9%
$648,144
$648.1K
Market Conditions
NOI Build-Up for 5,049 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
$100.0K $19.80/SF
− Vacancy
−$22.2K −$4.40/SF
EGI
$77.8K $15.40/SF
− OpEx
−$19.4K −$3.85/SF
NOI
$58.3K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /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%
$1,166,660
Cap Rate 7%
$833,329
Cap Rate 9%
$648,144
Alternative Uses
Best Use
Office B
$833.3K
$729.2K – $972.2K
NOI $58,333 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$920.7K – $1.23M
NOI $73,657 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,094
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-building office property with exposed brick, natural light, and private off-street parking.
Where is this office building located?
The property is located at 30-40 E Columbus St and 762 S Pearl St Columbus, OH.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Three buildings totaling approximately 5,049 SF; Three parcels included in the property; Recently renovated office space with exposed brick and abundant natural light
