Rooming House with Rear
For Sale
Contact for pricing
4673 Kenny Rd, Columbus, OH 43220
Previously operated as a rooming house with varied room sizes, plus parking for up to 20 vehicles at the rear.
Property Size5,453 SF
Lot Size1.00 Acre
Price / SF$164.13
Days on Market343
Property Features for 4673 Kenny Rd
General Information
Standard status
Active
Size
5,453 SF
Total Parking Spaces
20
Lot size
1.00 Acre
Property subtype
OFFICE
Listing Agency:
CBRE | Columbus
(614) 360-9045
Listed By:
Karl Hinkel
(614) 360-9045
Source:
Moodyscre
Added: Sep 5, 2025
Changed: Jul 28
Last Checked: Aug 12 at 11:17AM
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 CBRE | Columbus
Investment Insights
Based on property information with market context.
CBRE has been retained as the exclusive advisor and agent to conduct the fee simple sale of 4673 Kenny Road, a unique suburban building with potential for a variety of different uses. The property was previously utilized as a rooming house and offers rooms of varied sizes.
The building is situated on a one-acre site. Client or visitor parking can be placed adjacent to the main entrance on the south side, and the site includes circular ingress/egress to a rear parking lot.
The rear parking lot can accommodate up to 20 cars, supporting convenient arrival and staging for occupants and guests. The property totals 5,453 square feet.
The building is situated on a one-acre site. Client or visitor parking can be placed adjacent to the main entrance on the south side, and the site includes circular ingress/egress to a rear parking lot.
The rear parking lot can accommodate up to 20 cars, supporting convenient arrival and staging for occupants and guests. The property totals 5,453 square feet.
Key Highlights
- Previously operated as a rooming house offering rooms of varied sizes
- One‑acre site with parking options including client/visitor parking adjacent to the main entrance (south side)
- Circular ingress/egress to a rear parking lot that can accommodate up to 20 cars
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
$37,352
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
4.17%
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%
$747,040
$747.0K
Cap Rate 7%
$533,600
$533.6K
Cap Rate 9%
$415,022
$415.0K
Market Conditions
NOI Build-Up for 5,453 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
$72.6K $13.32/SF
− Vacancy
−$4.7K −$0.87/SF
EGI
$67.9K $12.45/SF
− OpEx
−$30.6K −$5.60/SF
NOI
$37.4K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$747,040
Cap Rate 7%
$533,600
Cap Rate 9%
$415,022
Alternative Uses
Best Use
Apartment 5plus
$533.6K
$466.9K – $622.5K
NOI $37,352 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$994.4K – $1.33M
NOI $79,550 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
Explore this area
Business Placement
Demographics for 43220, OH
27,736
Population
14,157
Households
2
Avg Household Size
37
Median Age
63%
College-Educated
96%
High-School Grad
6.6 sq mi
ZIP Area
4,202
Density / Sq Mi
$77,090
Median Household Income
$49,863
Median Earnings
$1,202
Median Rent
$463,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Previously operated as a rooming house with varied room sizes, plus parking for up to 20 vehicles at the rear.
Where is this residential income property located?
The property is located at 4673 Kenny Rd Columbus, OH.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Previously operated as a rooming house offering rooms of varied sizes; One‑acre site with parking options including client/visitor parking adjacent to the main entrance (south side); Circular ingress/egress to a rear parking lot that can accommodate up to 20 cars
