Mixed-Use Office Condo with
For Sale
Contact for pricing
437-453 E Mound St, Columbus, OH
2,301 SF mixed-use condo with cyclorama wall and high ceilings.
Property Size2,301 SF
Lot Size0.20 Acres
Price / SF$151.89
Days on Market258
Property Features for 437-453 E Mound St
General Information
Standard status
Active
Size
2,301 SF
Lot size
0.20 Acres
Property subtype
OFFICE
Listing Agency:
Westwood Commercial Real Estate
(614) 869-7139
Listed By:
Douglas D. Smith · License #2013004679
(614) 869-7139
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 10
Last Checked: Aug 8 at 8:11AM
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 Westwood Commercial Real Estate
Investment Insights
Based on property information with market context.
This 2,301 SF mixed-use office condo features 1,800 SF on the first floor and a 500 SF mezzanine. The double unit includes 30-foot high ceilings and an open floor plan with a 24'x15' infinity cyclorama wall suitable for professional photography. The space is ADA compliant and includes a private office and kitchenette. Finished concrete floors and large east-facing windows provide ample natural light. This completely private end-unit space has potential for live-work or residential uses. There are 28 parking spaces available, with 6 allocated to this unit. HOA fees are $250 per month and include water. The space is move-in-ready.
Key Highlights
- Open floor plan featuring a 24'x15' infinity cyclorama wall ideal for professional photography.
- Double unit boasts 30' high ceilings.
- Potential for live‑work or residential transformation.
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
$26,584
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
7.61%
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%
$531,680
$531.7K
Cap Rate 7%
$379,771
$379.8K
Cap Rate 9%
$295,378
$295.4K
Market Conditions
NOI Build-Up for 2,301 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
$45.6K $19.80/SF
− Vacancy
−$10.1K −$4.40/SF
EGI
$35.4K $15.40/SF
− OpEx
−$8.9K −$3.85/SF
NOI
$26.6K $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%
$531,680
Cap Rate 7%
$379,771
Cap Rate 9%
$295,378
Alternative Uses
Best Use
Office B
$379.8K
$332.3K – $443.1K
NOI $26,584 @ 7.0% cap · market cap 7.61%
Second Best
Mixed Use
$377.2K
$330.1K – $440.1K
NOI $26,404 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$479.5K
$419.6K – $559.5K
NOI $33,568 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,984
Businesses Nearby
Explore this area
Business Placement
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 units - 2,301 SF mixed-use condo with cyclorama wall and high ceilings.
Where is this office units located?
The property is located at 437-453 E Mound St Columbus, OH.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Open floor plan featuring a **24'x15' infinity cyclorama wall** ideal for professional photography.; Double unit boasts **30' high ceilings**.; Potential for live‑work or residential transformation.
