Columbus Investment Opportunity on
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4675 N High St, Columbus, OH 43214
6,322 sqft property with strong lease and corporate guaranty.
Property Size6,322 SF
Lot Size0.35 Acres
Price / SF$335.05
Days on Market150
Property Features for 4675 N High St
General Information
Standard status
Active
Size
6,322 SF
Total Parking Spaces
18
Lot size
0.35 Acres
Property subtype
Mixed Use, Retail
Zoning
UGN-1
Occupancy
100%
Lease Type
NNN
Net Operating Income
$132,388
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Zelnik Realty Ltd
(614) 296-0184
Listed By:
Mark W. Zelnik · License #2023006534
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 8 at 2:36PM
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 Zelnik Realty Ltd
Investment Insights
Based on property information with market context.
This property, located on N High St in Columbus, Ohio, presents an investment opportunity. The 6,322 sqft building is situated on 0.35 acres of land and is zoned UGN-1. The property benefits from a strong lease with a corporate guaranty. The current rent is $132,388.56, yielding a 6.25% cap rate. The NNN lease has 3 years remaining, with two 5-year renewal options. The property benefits from high visibility and a strategic position near major shopping centers and prominent roads.
Key Highlights
- Strong lease with corporate guaranty providing stable income.
- Current rent of $132,388.56 yielding a 6.25% cap rate.
- NNN lease structure.
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
$72,886
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
3.44%
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%
$1,457,720
$1.5M
Cap Rate 7%
$1,041,229
$1.0M
Cap Rate 9%
$809,844
$809.8K
Market Conditions
NOI Build-Up for 6,322 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
$113.8K $18.00/SF
− Vacancy
−$9.7K −$1.53/SF
EGI
$104.1K $16.47/SF
− OpEx
−$31.2K −$4.94/SF
NOI
$72.9K $11.53/SF
Area
Columbus, OH
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,457,720
Cap Rate 7%
$1,041,229
Cap Rate 9%
$809,844
Alternative Uses
Best Use
Retail
$1.04M
$911.1K – $1.21M
NOI $72,886 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$1.04M
$906.8K – $1.21M
NOI $72,545 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,228 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 43214, OH
26,805
Population
14,343
Households
1.9
Avg Household Size
41
Median Age
65%
College-Educated
98%
High-School Grad
6.8 sq mi
ZIP Area
3,942
Density / Sq Mi
$92,838
Median Household Income
$60,164
Median Earnings
$1,189
Median Rent
$371,200
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 6,322 sqft property with strong lease and corporate guaranty.
Where is this mixed-use property located?
The property is located at 4675 N High St Columbus, OH.
What is the asking price?
The asking price for this property is $2,118,217.
What are key features of this property?
This property features: Strong lease with corporate guaranty providing stable income.; Current rent of $132,388.56 yielding a 6.25% cap rate.; NNN lease structure.
