Downtown Mixed-Use Redevelopment
For Sale
$3,500,000
4050 Long Street, Columbus, OH 43215
Partially leased commercial property with vacant space and C-DD zoning supporting varied downtown redevelopment concepts.
Property Size24,613 SF
Price / SF$142.20
Days on Market155
Property Features for 4050 Long Street
General Information
Standard status
Active
Size
24,613 SF
Property subtype
Retail
Zoning
C-DD
Taxes and HOA fees
Annual Taxes
$60,985
Amenities
3
Building Details
Year Built
1900
Listing Agency:
Douglas & Key Commercial Real Estate Solutions
(614) 314-2538
Listed By:
Stephan Douglas
(614) 314-2538
Source:
Xome
Added: Mar 7
Changed: Aug 8
Last Checked: Aug 9 at 4:33AM
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 & Key Commercial Real Estate Solutions
Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 24,613 square feet of commercial retail and office space in a building constructed in 1900. The property is partially leased, while vacant space at 50 E Long Street provides an opportunity for lease-up, repositioning, or redevelopment. The C-DD (Downtown Special Improvement District) zoning supports a range of uses identified in the property information, including mixed-use development, retail, office conversion, restaurant or entertainment concepts, and urban residential redevelopment.
The property is located in downtown Columbus along the East Long Street corridor and within walking distance of the Ohio Statehouse, Columbus Commons, the Discovery District, and multiple emerging residential developments. The site also offers strong street presence and a flexible layout for future repositioning.
The property is located in downtown Columbus along the East Long Street corridor and within walking distance of the Ohio Statehouse, Columbus Commons, the Discovery District, and multiple emerging residential developments. The site also offers strong street presence and a flexible layout for future repositioning.
Key Highlights
- Approximately 24,613 square feet of commercial retail and office space
- C‑DD (Downtown Special Improvement District) zoning
- Partially leased building with existing rental income
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
Current Use
Location Intelligence
Trade Area within ½ mile
364
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 - Partially leased commercial property with vacant space and C-DD zoning supporting varied downtown redevelopment concepts.
Where is this mixed-use property located?
The property is located at 4050 Long Street 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 square feet of commercial retail and office space; C‑DD (Downtown Special Improvement District) zoning; Partially leased building with existing rental income
