Freestanding Retail Asset in
For Sale
Contact for pricing
3552 E Main St, Columbus, OH 43213
Long-term leased retail property with 29+ years remaining on lease.
Property Size7,800 SF
Lot Size0.93 Acres
Price / SF$370.41
Days on Market185
Property Features for 3552 E Main St
General Information
Standard status
Active
Size
7,800 SF
Lot size
0.93 Acres
Property subtype
Retail
Lease Type
Absolute Net
Net Operating Income
$187,800
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
360 Real Estate Advisors
Listed By:
Courtney Carper · License #BRKP.2021000138
Source:
Crexi
Added: Feb 17
Changed: Aug 18
Last Checked: Aug 20 at 8:28PM
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 360 Real Estate Advisors
Investment Insights
Based on property information with market context.
The property is a 7,800-square-foot freestanding retail asset situated on 0.932 acres. It is located along East Main Street, a primary retail corridor in East Columbus, Ohio. The property is leased to Laundromax under a long-term lease with over 29 years remaining on its initial term. The lease includes 2% annual rent increases. Laundromax has made a substantial capital commitment to the location, investing approximately $2 million in buildout costs. Laundromax and its affiliates are the largest operator of laundromats by volume in the US. The site benefits from strong visibility and convenient access. A newly constructed apartment complex is located directly west of the property, enhancing the immediate customer base and supporting sustained foot traffic, which drives long-term demand for laundromat services.
Key Highlights
- Long‑term lease with over 29 years remaining and 2% annual rent increases, ensuring predictable cash flow.
- Tenant (Laundromax) is the largest operator of laundromats by volume in the US.
- Laundromax invests approximately $2 million in buildout costs, demonstrating a substantial capital commitment.
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
$89,926
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
3.11%
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%
$1,798,520
$1.8M
Cap Rate 7%
$1,284,657
$1.3M
Cap Rate 9%
$999,178
$999.2K
Market Conditions
NOI Build-Up for 7,800 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
$140.4K $18.00/SF
− Vacancy
−$11.9K −$1.53/SF
EGI
$128.5K $16.47/SF
− OpEx
−$38.5K −$4.94/SF
NOI
$89.9K $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%
$1,798,520
Cap Rate 7%
$1,284,657
Cap Rate 9%
$999,178
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,926 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,789 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Explore this area
Business Placement
Demographics for 43213, OH
35,105
Population
17,069
Households
2.1
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
3,408
Density / Sq Mi
$53,908
Median Household Income
$37,753
Median Earnings
$1,107
Median Rent
$197,700
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Long-term leased retail property with 29+ years remaining on lease.
Where is this retail space located?
The property is located at 3552 E Main St Columbus, OH.
What is the asking price?
The asking price for this property is $2,889,230.
What are key features of this property?
This property features: Long‑term lease with over 29 years remaining and 2% annual rent increases, ensuring predictable cash flow.; Tenant (Laundromax) is the largest operator of laundromats by volume in the US.; Laundromax invests approximately $2 million in buildout costs, demonstrating a substantial capital commitment.
