Downtown Mixed-Use Development
For Sale
Contact for pricing
40-50 E Long St, Columbus, OH 43215
Prime mixed-use development opportunity in downtown Columbus.
Property Size24,613 SF
Price / SF$142.20
Days on Market163
Property Features for 40-50 E Long St
General Information
Standard status
Active
Size
24,613 SF
Property subtype
Retail, Multifamily, Office, Hospitality, Mixed Use
Zoning
DD
Occupancy
70%
Investment Type
Value Add
Net Operating Income
$126,000
Building Details
Year Built
1900
Year Renovated
1980
Units
3
Listing Agency:
Douglas and Associates Realty
Listed By:
Stephan Douglas · License #2006000447
Source:
Crexi
Added: Mar 13
Changed: Aug 19
Last Checked: Aug 22 at 12:20PM
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 Douglas and Associates Realty
Investment Insights
Based on property information with market context.
This property presents a prime mixed-use development opportunity in downtown Columbus. The property offers a total size of 24613 square feet.
Key Highlights
- Prime Downtown Location
- Mixed‑Use Development Opportunity
- Development Opportunity
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
$284,361
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
8.12%
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%
$5,687,220
$5.7M
Cap Rate 7%
$4,062,300
$4.1M
Cap Rate 9%
$3,159,567
$3.2M
Market Conditions
NOI Build-Up for 24,613 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
$487.3K $19.80/SF
− Vacancy
−$108.2K −$4.40/SF
EGI
$379.1K $15.40/SF
− OpEx
−$94.8K −$3.85/SF
NOI
$284.4K $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%
$5,687,220
Cap Rate 7%
$4,062,300
Cap Rate 9%
$3,159,567
Alternative Uses
Best Use
Office B
$4.06M
$3.55M – $4.74M
NOI $284,361 @ 7.0% cap · market cap 8.12%
Second Best
Retail
$4.05M
$3.55M – $4.73M
NOI $283,763 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$5.13M
$4.49M – $5.98M
NOI $359,063 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,739
Businesses Nearby
Explore this area
Business Placement
Demographics for 43215, OH
20,761
Population
13,428
Households
1.5
Avg Household Size
32
Median Age
71%
College-Educated
97%
High-School Grad
5.1 sq mi
ZIP Area
4,071
Density / Sq Mi
$74,469
Median Household Income
$59,521
Median Earnings
$1,487
Median Rent
$508,300
Median Home Value
Market
Vacancy Rate% for Office 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 - Prime mixed-use development opportunity in downtown Columbus.
Where is this mixed-use property located?
The property is located at 40-50 E Long St Columbus, OH.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime Downtown Location; Mixed‑Use Development Opportunity; Development Opportunity
