Retail
For Sale
Contact for pricing
5590 North High Street, Worthington, OH 43085
The property may be acquired independently or together with additional assets from the same portfolio.
Property Size16,178 SF
Price / SF$230.56
Days on Market56
Property Features for 5590 North High Street
General Information
Standard status
Active
Size
16,178 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$279,363
Building Details
Year Built
1953
Buildings
1
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Columbus
(216) 264-2000
Listed By:
Craig Fuller · License #OH 2008001551
Source:
Crexi
Added: Jul 6
Changed: Aug 30
Last Checked: Aug 30 at 8:20AM
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 Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
This retail property contains 16,178 square feet and was built in 1953. It is offered as part of a six-property portfolio, with the flexibility to purchase this asset separately or acquire it alongside other portfolio properties.
The property is located at 5590 North High Street in Worthington, Ohio, 43085.
The property is located at 5590 North High Street in Worthington, Ohio, 43085.
Key Highlights
- 16,178‑square‑foot retail property
- Built in 1953
- Available for individual acquisition
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
$156,225
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
4.19%
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%
$3,124,500
$3.1M
Cap Rate 7%
$2,231,786
$2.2M
Cap Rate 9%
$1,735,833
$1.7M
Market Conditions
NOI Build-Up for 16,178 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
$233.0K $14.40/SF
− Vacancy
−$9.8K −$0.60/SF
EGI
$223.2K $13.80/SF
− OpEx
−$67.0K −$4.14/SF
NOI
$156.2K $9.66/SF
Area
Richland County, OH
Vacancy
4.20%
Lease Rate
$14.40 /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%
$3,124,500
Cap Rate 7%
$2,231,786
Cap Rate 9%
$1,735,833
Alternative Uses
Best Use
Retail
$2.23M
$1.95M – $2.60M
NOI $156,225 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.25M
$2.85M – $3.80M
NOI $227,838 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 43085, OH
25,566
Population
10,961
Households
2.3
Avg Household Size
39
Median Age
62%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
3,502
Density / Sq Mi
$112,474
Median Household Income
$63,239
Median Earnings
$1,405
Median Rent
$373,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The property may be acquired independently or together with additional assets from the same portfolio.
Where is this retail space located?
The property is located at 5590 North High Street Worthington, OH.
What is the asking price?
The asking price for this property is $3,730,000.
What are key features of this property?
This property features: 16,178‑square‑foot retail property; Built in 1953; Available for individual acquisition
