Office Unit with Six
New
For Sale
Contact for pricing
5003 Horizons Dr, Upper Arlington, OH 43220
Configured with multiple offices, a conference room, and dedicated kitchen space.
Property Size2,633 SF
Price / SF$265.86
Days on Market4
Property Features for 5003 Horizons Dr
General Information
Standard status
Active
Size
2,633 SF
Property subtype
OFFICE
Amenities
Conference Room
Kitchen space
Listing Agency:
Colliers | Columbus
(614) 436-9800
Listed By:
Marty Ellinger · License #2021005812
(614) 753-0486
Source:
Moodyscre
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 20 at 9:09AM
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 Colliers | Columbus
Investment Insights
Based on property information with market context.
This 2633-square-foot office unit features an established interior layout with six offices, a conference room, and kitchen space. The existing improvements provide a functional professional setting with distinct work areas and shared meeting and support spaces.
Located at 5003 Horizons Dr in Upper Arlington, Ohio, the property offers a purpose-built office configuration within a commercial setting. Its combination of individual offices, meeting space, and kitchen amenities supports a range of professional office operations without requiring a fully open-plan layout.
Located at 5003 Horizons Dr in Upper Arlington, Ohio, the property offers a purpose-built office configuration within a commercial setting. Its combination of individual offices, meeting space, and kitchen amenities supports a range of professional office operations without requiring a fully open-plan layout.
Key Highlights
- 2633 square feet of office space
- Six (6) offices
- Dedicated conference room
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
$32,417
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
4.63%
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%
$648,340
$648.3K
Cap Rate 7%
$463,100
$463.1K
Cap Rate 9%
$360,189
$360.2K
Market Conditions
NOI Build-Up for 2,633 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
$56.9K $21.60/SF
− Vacancy
−$13.6K −$5.18/SF
EGI
$43.2K $16.42/SF
− OpEx
−$10.8K −$4.10/SF
NOI
$32.4K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /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%
$648,340
Cap Rate 7%
$463,100
Cap Rate 9%
$360,189
Alternative Uses
Best Use
Office B
$463.1K
$405.2K – $540.3K
NOI $32,417 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$536.8K
$469.7K – $626.3K
NOI $37,575 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Configured with multiple offices, a conference room, and dedicated kitchen space.
Where is this office units located?
The property is located at 5003 Horizons Dr Upper Arlington, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2633 square feet of office space; Six (6) offices; Dedicated conference room
