Commercial Redevelopment Land with Street
For Sale
$1,850,000
3479 Broad Street, Columbus, OH 43204
Zoned Regional Activity Center (RAC) with 1,600 feet of frontage on W Broad Street and reported 125,000 VPD.
Property Size4,728 SF
Price / SF$391.29
Days on Market352
Property Features for 3479 Broad Street
General Information
Standard status
Active
Size
4,728 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$2,613
Amenities
3
Building Details
Year Built
1950
Listing Agency:
Di Lusso Real Estate
(614) 900-1000
Listed By:
Di Lusso Real Estate · License #2024003271
(614) 900-1000
Source:
Xome
Added: Aug 23, 2025
Changed: Aug 8
Last Checked: Aug 9 at 4:51AM
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 Di Lusso Real Estate
Investment Insights
Based on property information with market context.
3479 W Broad Street is a redevelopment land opportunity in Columbus, Ohio, offered as a 2.59-acre site. The property is zoned Regional Activity Center (RAC), providing flexibility for redevelopment and supporting a range of uses including retail, mixed-use, multifamily, office, hospitality, and entertainment concepts.
The site offers approximately 1,600 feet of frontage along W Broad Street, with daily traffic counts of approximately 125,000 VPD, supporting strong visibility for future development.
The site offers approximately 1,600 feet of frontage along W Broad Street, with daily traffic counts of approximately 125,000 VPD, supporting strong visibility for future development.
Key Highlights
- 2.59‑acre redevelopment site along W Broad Street in Columbus
- Zoned Regional Activity Center (RAC), allowing for uses including retail, mixed‑use, multifamily, office, and hospitality/entertainment
- 1,600 feet of frontage on W Broad Street
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
$54,509
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
2.95%
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%
$1,090,180
$1.1M
Cap Rate 7%
$778,700
$778.7K
Cap Rate 9%
$605,656
$605.7K
Market Conditions
NOI Build-Up for 4,728 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
$85.1K $18.00/SF
− Vacancy
−$7.2K −$1.53/SF
EGI
$77.9K $16.47/SF
− OpEx
−$23.4K −$4.94/SF
NOI
$54.5K $11.53/SF
Area
Columbus, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,090,180
Cap Rate 7%
$778,700
Cap Rate 9%
$605,656
Alternative Uses
Best Use
Retail
$778.7K
$681.4K – $908.5K
NOI $54,509 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$985.3K
$862.2K – $1.15M
NOI $68,974 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43204, OH
42,315
Population
19,286
Households
2.2
Avg Household Size
35
Median Age
25%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
4,502
Density / Sq Mi
$59,158
Median Household Income
$38,610
Median Earnings
$1,206
Median Rent
$170,900
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Carpet & Flooring USA — 270 S Kellner Rd, Columbus, OH 43209
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Frequently Asked Questions
What type of property is this?
Showroom - Zoned Regional Activity Center (RAC) with 1,600 feet of frontage on W Broad Street and reported 125,000 VPD.
Where is this showroom located?
The property is located at 3479 Broad Street Columbus, OH.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 2.59‑acre redevelopment site along W Broad Street in Columbus; Zoned Regional Activity Center (RAC), allowing for uses including retail, mixed‑use, multifamily, office, and hospitality/entertainment; 1,600 feet of frontage on W Broad Street
