Renovated Office
For Sale
$635,000
Pending
3720 N High Street, Columbus, OH 43214
High Street property combines private offices, conference rooms, reception space, kitchen, and updated building systems.
Property Size1,764 SF
Days on Market59
Property Features for 3720 N High Street
General Information
Standard status
Pending
Size
1,764 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$10,498
Building Details
Building Size
1,764 SF
Year Built
1924
Listing Agency:
The Brokerage House
Listed By:
Benjamin J Goodman · License #2015003701
(614) 537-4867
Source:
Camtaylor
Added: Jul 29
Changed: Sep 18
Last Checked: Sep 24 at 4:11PM
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 The Brokerage House
Investment Insights
Based on property information with market context.
Located at 3720 N High Street in Columbus, this 1,764-square-foot office building dates to 1924 and has been renovated with updated electrical, plumbing, and mechanical systems. The interior includes four private offices, two conference rooms, a reception area, full kitchen, 2.5 baths, and hardwood flooring across the main levels. Newer windows and a newer roof add to the building improvements.
A finished 1,106-square-foot basement provides workspace and storage, while the unfinished 472-square-foot walk-up third floor offers additional expansion area. Exterior features include 3+ off-street parking spaces and a two-car garage with a walk-up second floor. The property is positioned on High Street in Clintonville, with visibility and signage along the street.
A finished 1,106-square-foot basement provides workspace and storage, while the unfinished 472-square-foot walk-up third floor offers additional expansion area. Exterior features include 3+ off-street parking spaces and a two-car garage with a walk-up second floor. The property is positioned on High Street in Clintonville, with visibility and signage along the street.
Key Highlights
- 1,764‑square‑foot office building constructed in 1924
- Four private offices, two conference rooms, reception area, full kitchen, and 2.5 baths
- Finished 1,106‑square‑foot basement with workspace and storage
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
$20,380
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
3.21%
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%
$407,600
$407.6K
Cap Rate 7%
$291,143
$291.1K
Cap Rate 9%
$226,444
$226.4K
Market Conditions
NOI Build-Up for 1,764 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
$34.9K $19.80/SF
− Vacancy
−$7.8K −$4.40/SF
EGI
$27.2K $15.40/SF
− OpEx
−$6.8K −$3.85/SF
NOI
$20.4K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /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%
$407,600
Cap Rate 7%
$291,143
Cap Rate 9%
$226,444
Alternative Uses
Best Use
Office B
$291.1K
$254.8K – $339.7K
NOI $20,380 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.6K
$321.7K – $428.9K
NOI $25,734 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 43214, OH
26,805
Population
14,343
Households
1.9
Avg Household Size
41
Median Age
65%
College-Educated
98%
High-School Grad
6.8 sq mi
ZIP Area
3,942
Density / Sq Mi
$92,838
Median Household Income
$60,164
Median Earnings
$1,189
Median Rent
$371,200
Median Home Value
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Market
Vacancy Rate% for Office in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Office building - High Street property combines private offices, conference rooms, reception space, kitchen, and updated building systems.
Where is this office building located?
The property is located at 3720 N High Street Columbus, OH.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: 1,764‑square‑foot office building constructed in 1924; Four private offices, two conference rooms, reception area, full kitchen, and 2.5 baths; Finished 1,106‑square‑foot basement with workspace and storage
