Six-Unit Townhome Apartment
For Sale
Contact for pricing
300 E 9th Ave, Columbus, OH 43201
Six-unit apartment building near Ohio State University and Crew Stadium.
Property Size6,452 SF
Price / SF$108.34
Days on Market164
Property Features for 300 E 9th Ave
General Information
Standard status
Active
Size
6,452 SF
Property subtype
Multifamily
Zoning
Multi-Family
Building Details
Year Built
1920
Stories
2
Units
6
Listing Agency:
Best Corporate Real Estate
(614) 559-3350
Listed By:
Randy Best · License #311236
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 13 at 2:27PM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This six-unit townhome apartment building features two-bedroom units that are fully leased. The building encompasses approximately 6,452 square feet. It is located within walkable distance of The Ohio State University, the Historic Crew Stadium, and The Ohio State Fairgrounds. The property is approximately 0.8 miles from Interstate-71 Northbound and Southbound, providing connectivity to Downtown Columbus, I-270, and the surrounding area.
Key Highlights
- Fully leased six‑unit townhome apartment building.
- Each unit contains two bedrooms.
- Located within walkable distance to The Ohio State University, Historic Crew Stadium, and The Ohio State Fairgrounds.
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
$44,195
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
6.32%
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%
$883,900
$883.9K
Cap Rate 7%
$631,357
$631.4K
Cap Rate 9%
$491,056
$491.1K
Market Conditions
NOI Build-Up for 6,452 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
$85.9K $13.32/SF
− Vacancy
−$5.6K −$0.87/SF
EGI
$80.4K $12.45/SF
− OpEx
−$36.2K −$5.60/SF
NOI
$44.2K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$883,900
Cap Rate 7%
$631,357
Cap Rate 9%
$491,056
Alternative Uses
Best Use
Apartment 5plus
$631.4K
$552.4K – $736.6K
NOI $44,195 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,124 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,517
Businesses Nearby
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building near Ohio State University and Crew Stadium.
Where is this apartment building located?
The property is located at 300 E 9th Ave Columbus, OH.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Fully leased six‑unit townhome apartment building.; Each unit contains two bedrooms.; Located within walkable distance to The Ohio State University, Historic Crew Stadium, and The Ohio State Fairgrounds.
