Downtown Office Condo with
For Sale
$539,000
451-453 E Mound Street, Columbus, OH 43215
Move-in-ready office condo with loft, open floor plan.
Property Size2,301 SF
Price / SF$234.25
Days on Market204
Property Features for 451-453 E Mound Street
General Information
Standard status
Active
Size
2,301 SF
Class
A
Property subtype
Office
Building Details
Building Size
2,301 SF
Year Built
2007
Listing Agency:
NAI Ohio Equities, LLC
(614) 570-7804
Listed By:
John Mally · License #2013004679
(614) 570-7804
Source:
Ohioequities
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 19 at 6:20AM
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 NAI Ohio Equities, LLC
Investment Insights
Based on property information with market context.
This impressive downtown office condo is available for sale. The lofted office space is move-in-ready and features large east-facing glass windows, an open floor plan, a private office, and a kitchenette. The property provides ample parking for employees and visitors with its own parking lot and provides convenient access to major travel routes. This high-end build features one restroom and a full kitchen that could be modified to meet multiple professional space needs. The space is suitable for a small creative studio that does professional photography, featuring a Cyclorama Wall. Food artists will appreciate the full kitchen with gas range and hood. This is a fully built-out office condo with a second-floor loft located in the heart of Downtown Columbus, between E Mount St and E Engler St, just off I-70 as you enter downtown. The Downtown District zoning allows for Retail, Office, Medical, or Residential Uses. The property is located in close proximity to Franklin University, Children's Hospital, and German Village. In addition, the location of the property provides convenient access to primary travel routes and ample parking. The property is a 2,301 SF mixed-use office condo with 1,800 SF on the 1st Floor and 500 SF Mezzanine. It features an open floor plan with 24'x15' Infinity Cyclorama Wall for Professional Photography, double unit with 30' high ceilings, ADA with private office and kitchenette, and a completely private end-unit space. The HOA fees are $250 per month and include water. Potential for live-work or residential uses. The space features finished concrete floors and large east-facing windows and has 28 parking spaces, with 6 allocated to this unit.
Key Highlights
- Move‑in‑ready downtown office condo with flexible Downtown District zoning (Retail, Office, Medical, or Residential Uses).
- Unique features include a 24'x15' Infinity Cyclorama Wall for professional photography and a full kitchen with gas range and hood.
- Ample parking with 6 allocated spaces and convenient access to major travel routes (I‑70).
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
4.93%
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 4.93%
Second Best
Retail
$379.0K
$331.6K – $442.1K
NOI $26,528 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$479.5K
$419.6K – $559.5K
NOI $33,568 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,519
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?
Creative space - Move-in-ready office condo with loft, open floor plan.
Where is this creative space located?
The property is located at 451-453 E Mound Street Columbus, OH.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Move‑in‑ready downtown office condo with flexible Downtown District zoning (Retail, Office, Medical, or Residential Uses).; Unique features include a 24'x15' Infinity Cyclorama Wall for professional photography and a full kitchen with gas range and hood.; Ample parking with 6 allocated spaces and convenient access to major travel routes (I‑70).
