Two-Story Office
New
For Sale
$675,000
538 E Rich St, Columbus, OH 43215
Separate HVAC systems by floor accommodate distinct occupants or a single user.
Property Size3,328 SF
Price / SF$197.60
Days on Market3
Property Features for 538 E Rich St
General Information
Standard status
Active
Size
3,328 SF
Class
B
Total Parking Spaces
6
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
separate HVAC systems for each floor
outdoor patio
Building Details
Building Size
3,328 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
NAI Ohio Equities, Realtors
Listed By:
Stephen Pryor, CCIM · License #2011000934
(614) 271-9111
Source:
Ohioequities
Added: Oct 4
Last Checked: Oct 5 at 5:19PM
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 NAI Ohio Equities, Realtors
Investment Insights
Based on property information with market context.
This 3,416-SF office property at 538 E Rich St has two levels and a layout suited to single- or multi-tenant occupancy. Each floor has its own HVAC system. A rear parking area provides six spaces, and an outdoor patio is available.
The property is just east of Downtown Columbus, with access to E Broad Street, E Main Street, and I-71. Built in 1900, the building offers a professional office configuration in a near-downtown setting.
The property is just east of Downtown Columbus, with access to E Broad Street, E Main Street, and I-71. Built in 1900, the building offers a professional office configuration in a near-downtown setting.
Key Highlights
- 3,416 SF across two stories
- Separate HVAC systems serve each floor
- Configured for single- or multi‑tenant occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,466
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$789,320
$789.3K
Cap Rate 7%
$563,800
$563.8K
Cap Rate 9%
$438,511
$438.5K
Market Conditions
NOI Build-Up for 3,416 SF
Gross rent
$67.6K $19.80/SF
− Vacancy
−$15.0K −$4.40/SF
EGI
$52.6K $15.40/SF
− OpEx
−$13.2K −$3.85/SF
NOI
$39.5K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$789,320
Cap Rate 7%
$563,800
Cap Rate 9%
$438,511
Alternative Uses
Best Use
Office B
$563.8K
$493.3K – $657.8K
NOI $39,466 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$711.9K
$622.9K – $830.6K
NOI $49,834 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,103
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Office building - Separate HVAC systems by floor accommodate distinct occupants or a single user.
Where is this office building located?
The property is located at 538 E Rich St Columbus, OH.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,416 SF across two stories; Separate HVAC systems serve each floor; Configured for single- or multi‑tenant occupancy
