Multi-Tenant Flex
New
For Sale
Contact for pricing
4700 Northwest Parkway, Hilliard, OH 43026
Flexible office and warehouse configuration with dock and drive-in loading access.
Property Size30,876 SF
Lot Size3.36 Acres
Price / SF$100.40
Days on Market3
Property Features for 4700 Northwest Parkway
General Information
Standard status
Active
Size
30,876 SF
Lot size
3.36 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
4
Additional Details
Highway Access
Yes
Building Details
Building Size
30,876 SF
Tenancy
Multi
Listing Agency:
Rj Boll Realty, Ltd.
(614) 799-2100
Listed By:
Jake Boll, SIOR · License #SAL.2016006108
(614) 307-9933
Source:
Moodyscre
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:05PM
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 Rj Boll Realty, Ltd.
Investment Insights
Based on property information with market context.
This multi-tenant flex property contains approximately 30,876 square feet across office and office/warehouse areas. The layout offers multiple configurations for an owner-user, while the multi-tenant format also supports investor leasing strategies. Loading improvements include 1 dock and 4 drive-in doors, with capacity to add more doors.
The property occupies approximately 3.36 acres on the west side of Hilliard, Ohio. Access to regional transportation is supported by a location approximately 1.3 miles from I-270 and 0.7 miles from Cemetery Road.
The property occupies approximately 3.36 acres on the west side of Hilliard, Ohio. Access to regional transportation is supported by a location approximately 1.3 miles from I-270 and 0.7 miles from Cemetery Road.
Key Highlights
- Approximately 30,876 square feet of multi‑tenant office and warehouse space
- Multiple office and office/warehouse configurations for owner‑user occupancy
- 1 dock and 4 drive‑in doors, with ability to add more
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
$116,856
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
3.77%
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%
$2,337,120
$2.3M
Cap Rate 7%
$1,669,371
$1.7M
Cap Rate 9%
$1,298,400
$1.3M
Market Conditions
NOI Build-Up for 30,876 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
$196.4K $6.36/SF
− Vacancy
−$16.6K −$0.54/SF
EGI
$179.8K $5.82/SF
− OpEx
−$62.9K −$2.04/SF
NOI
$116.9K $3.78/SF
Area
Franklin County, OH
Vacancy
8.45%
Lease Rate
$6.36 /SF/Yr
Expense Ratio
35.00%
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%
$2,337,120
Cap Rate 7%
$1,669,371
Cap Rate 9%
$1,298,400
Alternative Uses
Best Use
Warehouse
$6.22M
$5.45M – $7.26M
NOI $435,618 @ 7.0% cap · market cap 14.05%
Second Best
Office B
$5.43M
$4.75M – $6.34M
NOI $380,145 @ 7.0% cap · market cap 12.26%
Theoretical Best
Specialty Retail
$6.29M
$5.51M – $7.34M
NOI $440,631 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
4
Drive-in doors
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43026, OH
64,607
Population
25,671
Households
2.5
Avg Household Size
35
Median Age
55%
College-Educated
96%
High-School Grad
35.3 sq mi
ZIP Area
1,830
Density / Sq Mi
$110,369
Median Household Income
$59,770
Median Earnings
$1,430
Median Rent
$324,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Chris Cakes Pancake Catering — 3840 Lacon Rd #16, Hilliard, OH 43026
Frequently Asked Questions
What type of property is this?
Flex space - Flexible office and warehouse configuration with dock and drive-in loading access.
Where is this flex space located?
The property is located at 4700 Northwest Parkway Hilliard, OH.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Approximately 30,876 square feet of multi‑tenant office and warehouse space; Multiple office and office/warehouse configurations for owner‑user occupancy; 1 dock and 4 drive‑in doors, with ability to add more
