Mixed-Use Building with Retail and
For Sale
$975,000
537539 5th Street, Columbus, OH 43206
Historic mixed-use property combines street-level retail with residential units above and an unfinished attic for future space planning.
Property Size4,992 SF
Price / SF$195.31
Days on Market210
Property Features for 537539 5th Street
General Information
Standard status
Active
Size
4,992 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,303
Amenities
3
Building Details
Year Built
1912
Buildings
1
Tenancy
Multi
Listing Agency:
(614) 221-4286
Listed By:
The Robert Weiler Company
(614) 221-4286
Source:
Xome
Added: Jan 11
Changed: Aug 8
Last Checked: Aug 9 at 5:22AM
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 The Robert Weiler Company
Investment Insights
Based on property information with market context.
Built in 1912, this 4,992-square-foot mixed-use property combines two retail units on the ground floor with two apartment units above. The building also includes an unfinished attic extending across the footprint, with potential for approximately 3,000 square feet of additional living space. Existing interior features include three listed interior elements.
The property is located in German Village just south of Downtown Columbus, near Schiller Park and Scioto Audubon Metro Park. Downtown Columbus and major highways, including I-70 and I-71, are accessible via short drives. The property is currently occupied by tenants.
The property is located in German Village just south of Downtown Columbus, near Schiller Park and Scioto Audubon Metro Park. Downtown Columbus and major highways, including I-70 and I-71, are accessible via short drives. The property is currently occupied by tenants.
Key Highlights
- 4,992 +/- SF mixed‑use property built in 1912
- Two retail units on the ground floor
- Two apartment units above the retail space
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
$57,553
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
5.90%
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%
$1,151,060
$1.2M
Cap Rate 7%
$822,186
$822.2K
Cap Rate 9%
$639,478
$639.5K
Market Conditions
NOI Build-Up for 4,992 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
$89.9K $18.00/SF
− Vacancy
−$7.6K −$1.53/SF
EGI
$82.2K $16.47/SF
− OpEx
−$24.7K −$4.94/SF
NOI
$57.6K $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%
$1,151,060
Cap Rate 7%
$822,186
Cap Rate 9%
$639,478
Alternative Uses
Best Use
Retail
$822.2K
$719.4K – $959.2K
NOI $57,553 @ 7.0% cap · market cap 5.90%
Second Best
Mixed Use
$818.3K
$716.0K – $954.7K
NOI $57,283 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$1.04M
$910.3K – $1.21M
NOI $72,825 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use property combines street-level retail with residential units above and an unfinished attic for future space planning.
Where is this mixed-use property located?
The property is located at 537539 5th Street Columbus, OH.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,992 +/- SF mixed‑use property built in 1912; Two retail units on the ground floor; Two apartment units above the retail space
