Mixed-Use Property with Industrial
New
For Sale
$469,000
3551 Groveport East Road, Columbus, OH 43207
Two residential homes accompany a gated industrial shop with office, restroom, and drive-in access.
Property Size1,636 SF
Lot Size1.00 Acre
Price / SF$286.67
Days on Market5
Property Features for 3551 Groveport East Road
General Information
Standard status
Active
Size
1,636 SF
Lot size
1.00 Acre
Property subtype
Mixed Use
Warehouse & Industrial
Drive-In Doors
1
Power
200 amps
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,209
Building Details
Building Size
1,636 SF
Year Built
1928
Buildings
3
Listing Agency:
RE/MAX Revealty
Listed By:
Danielle N Jude
(614) 701-6572
Source:
Camtaylor
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 6:56AM
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 RE/MAX Revealty
Investment Insights
Based on property information with market context.
This mixed-use property combines an industrial shop with two residential homes across two parcels totaling approximately one acre. The 1,636-square-foot shop includes a drive-in door, 200-amp electric service, an office, restroom, and gated parking. The residential component consists of a renovated 3-bedroom, 2-bath home and a 2-bedroom, 1.5-bath home.
The property occupies a corner lot near Route 104 and I-270 in Columbus. With three structures and distinct residential and industrial components, the site supports a live-and-work configuration for an owner-user, contractor, or business operator while retaining separate housing improvements.
The property occupies a corner lot near Route 104 and I-270 in Columbus. With three structures and distinct residential and industrial components, the site supports a live-and-work configuration for an owner-user, contractor, or business operator while retaining separate housing improvements.
Key Highlights
- Mixed‑use property on approximately one acre across two parcels
- 1,636‑square‑foot industrial shop with drive‑in door
- 200‑amp electric, office, restroom, and gated parking
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
$19,008
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
4.05%
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%
$380,160
$380.2K
Cap Rate 7%
$271,543
$271.5K
Cap Rate 9%
$211,200
$211.2K
Market Conditions
NOI Build-Up for 1,636 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
$35.7K $21.84/SF
− Vacancy
−$8.6K −$5.24/SF
EGI
$27.2K $16.60/SF
− OpEx
−$8.1K −$4.98/SF
NOI
$19.0K $11.62/SF
Area
ZIP 43207
Vacancy
24.00%
Lease Rate
$21.84 /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%
$380,160
Cap Rate 7%
$271,543
Cap Rate 9%
$211,200
Alternative Uses
Best Use
Industrial
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 4.05%
Second Best
Mixed Use
$242.5K
$212.2K – $282.9K
NOI $16,972 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$329.7K
$288.5K – $384.7K
NOI $23,082 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residential homes accompany a gated industrial shop with office, restroom, and drive-in access.
Where is this mixed-use property located?
The property is located at 3551 Groveport East Road Columbus, OH.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Mixed‑use property on approximately one acre across two parcels; 1,636‑square‑foot industrial shop with drive‑in door; 200‑amp electric, office, restroom, and gated parking
