Flex Space with Fenced
New
For Sale
Contact for pricing
4015 Lockbourne Industrial Pkwy, Columbus, OH 43207
Warehouse and dedicated office areas combine with loading access, power infrastructure, and secured outdoor storage.
Property Size5,000 SF
Lot Size1.07 Acres
Price / SF$165
Days on Market6
Property Features for 4015 Lockbourne Industrial Pkwy
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.07 Acres
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
3,500 SF
Office Build-Out
1,500 SF
Dock-High Doors
1
Drive-In Doors
1
Three-Phase Power
Yes
Amenities
Kitchenette Area
Building Details
Buildings
1
Building Size
5,000 SF
Listing Agency:
Best Corporate Real Estate
(614) 559-3350
Listed By:
Randy Best · License #311236
(614) 559-3350
Source:
Moodyscre
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 1:06PM
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 Best Corporate Real Estate
Investment Insights
Based on property information with market context.
This flex property includes approximately 5,000 square feet across a warehouse and dedicated office area. The interior allocation is approximately 3,500 square feet of warehouse space and 1,500 square feet of office space, with two bathrooms and a kitchenette. Warehouse features include fully insulated walls and ceiling, 14-foot clear height at the eaves, 16-foot clear height at the center, 3-phase power, a 12-foot drive-in door, and a dock door with manual dock leveler.
The property occupies approximately 1.07 acres at 4015 Lockbourne Industrial Pkwy in Columbus, Ohio. An outside fenced storage area is included, and the site has potential for building expansion. The property is currently leased; prospective parties are asked not to disturb the tenant.
The property occupies approximately 1.07 acres at 4015 Lockbourne Industrial Pkwy in Columbus, Ohio. An outside fenced storage area is included, and the site has potential for building expansion. The property is currently leased; prospective parties are asked not to disturb the tenant.
Key Highlights
- Approximately 5,000 square feet, including ±3,500 square feet of warehouse and ±1,500 square feet of office
- Approximately ±1.07‑acre lot with potential to expand the building
- 14' clear height at eaves and 16' clear height at warehouse center
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
$70,543
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
8.55%
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%
$1,410,860
$1.4M
Cap Rate 7%
$1,007,757
$1.0M
Cap Rate 9%
$783,811
$783.8K
Market Conditions
NOI Build-Up for 5,000 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
$109.2K $21.84/SF
− Vacancy
−$26.2K −$5.24/SF
EGI
$83.0K $16.60/SF
− OpEx
−$12.4K −$2.49/SF
NOI
$70.5K $14.11/SF
Area
ZIP 43207
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
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%
$1,410,860
Cap Rate 7%
$1,007,757
Cap Rate 9%
$783,811
Alternative Uses
Best Use
Warehouse
$1.01M
$881.8K – $1.18M
NOI $70,543 @ 7.0% cap · market cap 8.55%
Second Best
Industrial
$829.9K
$726.2K – $968.2K
NOI $58,094 @ 7.0% cap · market cap 7.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and dedicated office areas combine with loading access, power infrastructure, and secured outdoor storage.
Where is this flex space located?
The property is located at 4015 Lockbourne Industrial Pkwy Columbus, OH.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Approximately 5,000 square feet, including ±3,500 square feet of warehouse and ±1,500 square feet of office; Approximately ±1.07‑acre lot with potential to expand the building; 14' clear height at eaves and 16' clear height at warehouse center
