Two-Unit Office
For Sale
Contact for pricing
374-376 Wilson Ave, Columbus, OH 43205
Two-level commercial property with an unfinished first floor, C4 zoning, and substantial renovation needs.
Property Size5,427 SF
Price / SF$161.23
Days on Market385
Property Features for 374-376 Wilson Ave
General Information
Standard status
Active
Size
5,427 SF
Property subtype
OFFICE
Zoning
C4
Property Condition
Severity
Major Repairs Needed
Evidence
in need of major work
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Listing Agency:
Carriage Trade Realty, Inc.
(614) 806-2505
Listed By:
Roschelle Richardson · License #2012000442
(614) 806-2505
Source:
Moodyscre
Added: Aug 12, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:36PM
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 Carriage Trade Realty, Inc.
Investment Insights
Based on property information with market context.
This two-unit office building contains separate upstairs and downstairs areas within 5,427 square feet. The upper level was previously occupied as living space, while the first floor remains unfinished. The property requires substantial work and may also support a rebuild-to-suit approach.
Positioned at the intersection of E. Main St. and Wilson Ave., the offering includes the Main St. (1230) facing lot. C4 commercial zoning applies, and the property is located within an Opportunity Zone. The address is 374-376 Wilson Ave, Columbus, OH 43205.
Positioned at the intersection of E. Main St. and Wilson Ave., the offering includes the Main St. (1230) facing lot. C4 commercial zoning applies, and the property is located within an Opportunity Zone. The address is 374-376 Wilson Ave, Columbus, OH 43205.
Key Highlights
- 5,427‑square‑foot two‑unit building with upstairs and downstairs areas
- First floor is unfinished
- Upper level was previously owner‑occupied
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
$62,700
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
7.17%
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%
$1,254,000
$1.3M
Cap Rate 7%
$895,714
$895.7K
Cap Rate 9%
$696,667
$696.7K
Market Conditions
NOI Build-Up for 5,427 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
$107.5K $19.80/SF
− Vacancy
−$23.9K −$4.40/SF
EGI
$83.6K $15.40/SF
− OpEx
−$20.9K −$3.85/SF
NOI
$62.7K $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%
$1,254,000
Cap Rate 7%
$895,714
Cap Rate 9%
$696,667
Alternative Uses
Best Use
Office B
$895.7K
$783.8K – $1.05M
NOI $62,700 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$989.6K – $1.32M
NOI $79,171 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level commercial property with an unfinished first floor, C4 zoning, and substantial renovation needs.
Where is this office building located?
The property is located at 374-376 Wilson Ave Columbus, OH.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 5,427‑square‑foot two‑unit building with upstairs and downstairs areas; First floor is unfinished; Upper level was previously owner‑occupied
