Office Building with Updated
For Sale
Contact for pricing
3070 RIVERSIDE DR, Upper Arlington, OH 43221
Second-floor suites may accommodate an owner-user configuration.
Property Size19,936 SF
Lot Size1.05 Acres
Price / SF$160.51
Days on Market9
Property Features for 3070 RIVERSIDE DR
General Information
Standard status
Active
Size
19,936 SF
Total Parking Spaces
52
Lot size
1.05 Acres
Property subtype
Office
Additional Details
Office Units
18
Amenities
lobby
common areas
security systems
renovated kitchenettes
common area bathrooms
upgraded LED lighting
Building Details
Year Built
1971
Buildings
1
Building Size
19,936 SF
Tenancy
Multi
Listing Agency:
Red One Realty
Listed By:
Jeff Sheu · License #2017006002
(614) 257-8076
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 3:01PM
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 Red One Realty
Investment Insights
Based on property information with market context.
This multi-tenant office property contains 19,936~ SF across 18 units on 1.05 acres. Built in 1971, the building includes several renovated kitchenettes, four shared bathrooms, and upgraded LED lighting. Improvements also include refreshed office interiors, lobby and common areas, parking lot, roof, and security systems.
The property provides 52 parking spaces. Second-floor suites offer potential for owner occupancy, and the building has a history of occupancy.
The property provides 52 parking spaces. Second-floor suites offer potential for owner occupancy, and the building has a history of occupancy.
Key Highlights
- 19,936~ SF office building on 1.05 acres
- 18 total units in a multi‑tenant configuration
- 52 parking spaces
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
$245,452
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
7.67%
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%
$4,909,040
$4.9M
Cap Rate 7%
$3,506,457
$3.5M
Cap Rate 9%
$2,727,244
$2.7M
Market Conditions
NOI Build-Up for 19,936 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
$430.6K $21.60/SF
− Vacancy
−$103.3K −$5.18/SF
EGI
$327.3K $16.42/SF
− OpEx
−$81.8K −$4.10/SF
NOI
$245.5K $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%
$4,909,040
Cap Rate 7%
$3,506,457
Cap Rate 9%
$2,727,244
Alternative Uses
Best Use
Office B
$3.51M
$3.07M – $4.09M
NOI $245,452 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.06M
$3.56M – $4.74M
NOI $284,506 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 43221, OH
33,844
Population
15,462
Households
2.2
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
9.5 sq mi
ZIP Area
3,563
Density / Sq Mi
$115,393
Median Household Income
$65,082
Median Earnings
$1,441
Median Rent
$419,200
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 - Second-floor suites may accommodate an owner-user configuration.
Where is this office building located?
The property is located at 3070 RIVERSIDE DR Upper Arlington, OH.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 19,936~ SF office building on 1.05 acres; 18 total units in a multi‑tenant configuration; 52 parking spaces
