Renovated Office
For Sale
Under Contract
$635,000
3720 N High Street, Columbus, OH 43214
Office, Columbus, OH
Property Size1,764 SF
Lot Size0.13 Acres
Price / SF$359.98
Days on Market48
Property Features for 3720 N High Street
General Information
Property type
Residential
Property subtype
Office
Rooms
Basement
Parking
3
Subdivision
Clintonville
Standard status
Active Under Contract
APN
010-071340
Size
1,764 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10498
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1924
Floors in Building
2
Listing Agency:
The Brokerage House
(614) 500-7870
Listed By:
Benjamin J Goodman · License #2015003701
(614) 537-4867
Added: Jul 28
Changed: Sep 7
Last Checked: Sep 13 at 11:06AM
MLS# 226028604
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated office building at 3720 N High Street combines original architectural character with substantial functional updates. The interior includes four private offices, two conference rooms, a reception area, a full kitchen, 2.5 baths, and hardwood flooring across the main levels. Updated windows, roofing, electrical, plumbing, and mechanical systems support the refreshed configuration.
A finished 1,106-square-foot basement adds workspace and storage, while the 472-square-foot unfinished walk-up third floor provides expansion capacity. Exterior improvements include 3+ off-street parking spaces and a two-car garage with an accessible second floor for additional storage. Built in 1924, the property uses forced-air heating and is served by public water. Its High Street position provides visibility and signage in Columbus’s Clintonville area.
A finished 1,106-square-foot basement adds workspace and storage, while the 472-square-foot unfinished walk-up third floor provides expansion capacity. Exterior improvements include 3+ off-street parking spaces and a two-car garage with an accessible second floor for additional storage. Built in 1924, the property uses forced-air heating and is served by public water. Its High Street position provides visibility and signage in Columbus’s Clintonville area.
Key Highlights
- Four private offices and two conference rooms
- Finished 1,106‑square‑foot basement with workspace and storage
- Unfinished 472‑square‑foot walk‑up third floor
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
Lease Details
Yes
Paved road access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - The property combines High Street visibility, signage, updated systems, and a flexible office layout.
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: Four private offices and two conference rooms; Finished 1,106‑square‑foot basement with workspace and storage; Unfinished 472‑square‑foot walk‑up third floor
