Downtown Mixed-Use Office and
For Sale
$3,500,000
40-50 E Long Street Columbus, Columbus, OH 43215
Partially leased downtown property with retail and office space plus vacant suite, zoned for flexible mixed-use redevelopment.
Property Size24,613 SF
Price / SF$142.20
Days on Market46
Property Features for 40-50 E Long Street Columbus
General Information
Standard status
Active
Size
24,613 SF
Zoning
C-DD
Taxes and HOA fees
Annual Taxes
$60,985
Amenities
No
Public
0.39
24613.0
Building Details
Building Size
24,613 SF
Year Built
1900
Stories
2
Listing Agency:
(614) 660-5959
Listed By:
Bernice Banquaio
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 8:15AM
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 Bernice Banquaio
Investment Insights
Based on property information with market context.
40-50 E Long Street is a downtown Columbus redevelopment property totaling approximately 24,613 square feet of commercial retail and office space. The asset is partially leased, with existing rental income, and it also includes vacant space at 50 E Long Street that may support lease-up or repositioning. The available configuration is described as flexible, supporting multiple redevelopment paths consistent with the property’s Downtown Special Improvement District zoning.
Located along the East Long Street corridor in Columbus, Ohio, the property is positioned within walking distance of major civic and entertainment anchors referenced in the marketing materials, including the Ohio Statehouse, Columbus Commons, and the Discovery District. The offering is identified as a redevelopment opportunity in the heart of downtown.
The City of Columbus zoning designation provided with the property, C-DD (Downtown Special Improvement District), allows for a wide range of uses, including mixed-use development, retail activation, office conversion, restaurant or entertainment concepts, or urban residential redevelopment. This combination of existing income, available vacancy at 50 E Long Street, and flexible permitted-use zoning may support owner-users, investors, or developers evaluating a downtown lease-up, conversion, or redevelopment strategy.
Located along the East Long Street corridor in Columbus, Ohio, the property is positioned within walking distance of major civic and entertainment anchors referenced in the marketing materials, including the Ohio Statehouse, Columbus Commons, and the Discovery District. The offering is identified as a redevelopment opportunity in the heart of downtown.
The City of Columbus zoning designation provided with the property, C-DD (Downtown Special Improvement District), allows for a wide range of uses, including mixed-use development, retail activation, office conversion, restaurant or entertainment concepts, or urban residential redevelopment. This combination of existing income, available vacancy at 50 E Long Street, and flexible permitted-use zoning may support owner-users, investors, or developers evaluating a downtown lease-up, conversion, or redevelopment strategy.
Key Highlights
- Approximately 24,613 SF commercial retail and office building at 40‑50 E Long Street, Columbus, OH.
- Partially leased property with existing rental income and a vacant suite at 50 E Long Street for lease‑up.
- Lot size: 0.39 acres; water source is public.
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
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Frequently Asked Questions
What type of property is this?
Office building - Partially leased downtown property with retail and office space plus vacant suite, zoned for flexible mixed-use redevelopment.
Where is this office building located?
The property is located at 40-50 E Long Street Columbus 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: Approximately 24,613 SF commercial retail and office building at 40‑50 E Long Street, Columbus, OH.; Partially leased property with existing rental income and a vacant suite at 50 E Long Street for lease‑up.; Lot size: 0.39 acres; water source is public.
