Mixed-Use Building Near
For Sale
$1,250,000
480 E Main Street, Columbus, OH 43215
5,800 SF mixed-use building suitable for warehousing, studio, or restaurant.
Property Size5,800 SF
Price / SF$215.52
Days on Market261
Property Features for 480 E Main Street
General Information
Standard status
Active
Size
5,800 SF
Property subtype
Retail
Building Details
Building Size
5,800 SF
Year Built
1948
Listing Agency:
(614) 581-2434
Listed By:
Dan Sheeran
(614) 581-2434
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:53AM
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 Dan Sheeran
Investment Insights
Based on property information with market context.
This 5,800 SF freestanding building is located on 0.37 acres in downtown Columbus, near I-71, along heavily traveled E Main Street. Currently operating as an automotive repair shop, the site is suitable for multiple mixed-use purposes, including warehousing, distribution, studio space, restaurants, or breweries. The property features 55 feet of frontage on E. Main Street and offers ease of access to the rest of downtown. It includes an office area, pylon signage, one drive-in door, floor drains, and racking. The zoning is Downtown District (DD). The location provides convenient access to downtown Columbus, German Village, and Nationwide Children’s Medical Center. Situated between 4th Street and Interstate 71 along busy E. Main Street near Parsons Avenue, the property is located right off of I-71’s Main Street exit.
Key Highlights
- 5,800 SF Freestanding Building in Downtown Columbus
- Located near I‑71 and E Main Street with Easy Access to Downtown and German Village
- Zoned Downtown District (DD) Suitable for Mixed‑Use Development
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
$66,868
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
5.35%
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%
$1,337,360
$1.3M
Cap Rate 7%
$955,257
$955.3K
Cap Rate 9%
$742,978
$743.0K
Market Conditions
NOI Build-Up for 5,800 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
$104.4K $18.00/SF
− Vacancy
−$8.9K −$1.53/SF
EGI
$95.5K $16.47/SF
− OpEx
−$28.7K −$4.94/SF
NOI
$66.9K $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%
$1,337,360
Cap Rate 7%
$955,257
Cap Rate 9%
$742,978
Alternative Uses
Best Use
Retail
$955.3K
$835.9K – $1.11M
NOI $66,868 @ 7.0% cap · market cap 5.35%
Second Best
Industrial
$327.6K
$286.7K – $382.2K
NOI $22,934 @ 7.0% cap · market cap 1.83%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,612 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,960
Businesses Nearby
Well-served
Demand for This Use
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 Retail in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kirk's Body Shop — 751 Wager St, Columbus, OH 43206
- Pump Pro's — 513 City Park Ave, Columbus, OH 43215
- Berkeley Towing Service — 559 S High St, Columbus, OH 43215, United States
- John's Tire and Brake Service — 807 Parsons Ave, Columbus, OH 43206
- H and M towing — 779 Parsons Ave, Columbus, OH 43206
Frequently Asked Questions
What type of property is this?
Auto shop - 5,800 SF mixed-use building suitable for warehousing, studio, or restaurant.
Where is this auto shop located?
The property is located at 480 E Main Street Columbus, OH.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,800 SF Freestanding Building in Downtown Columbus; Located near I‑71 and E Main Street with Easy Access to Downtown and German Village; Zoned Downtown District (DD) Suitable for Mixed‑Use Development
