Strip Mall Retail
New
For Sale
$3,730,000
5685 N High St, Worthington, OH 43085
Retail center offering an established commercial building with a substantial footprint.
Property Size16,178 SF
Price / SF$230.56
Days on Market2
Property Features for 5685 N High St
General Information
Standard status
Active
Size
16,178 SF
Property subtype
Shopping Strip
Additional Details
Cap Rate
7.5%
Amenities
14,225-Square-Foot High-Traffic Retail Strip with (One) 1,953-Square-Foot Apartment Unit Above
Located on MSA's Top Corridor (High Street) with 17,135 Vehicles per Day
Dense/Affluent Trade-Area: 12,000 People, $99,000 Average Household Income within One-Mile; 107,000 / $94,000 Average Household Income within Three-Miles
Two-Miles Down High Street from I-270 Exit Ramps (Columbus's Outerloop Hwy System)
1.5 Miles South of New-Construction Retail Strips with $40-$50 per Square Foot Triple-Net Rents
Local and Service-Oriented Tenant Mix Supporting Daily Needs Demand
Five-Miles down High Street to Ohio State University's Campus (#3 Largest University in US); Seven-Miles to Downtown Columbus
Building Details
Building Size
16,178 SF
Year Built
1953
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Scott Wiles · License #License(s): OH: SAL.2005013197
(216) 264-2026
Source:
Marcusmillichap
Added: Sep 6
Last Checked: Sep 7 at 4:57AM
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 - Cleveland
Investment Insights
Based on property information with market context.
Sharon Square is a strip mall property comprising 16,178 square feet of commercial space. The building was constructed in 1953 and is located at 5685 N High St in Worthington, Ohio.
The property carries a Worthington address with ZIP code 43085. Available information identifies the asset as a retail-oriented commercial property offered for sale.
The property carries a Worthington address with ZIP code 43085. Available information identifies the asset as a retail-oriented commercial property offered for sale.
Key Highlights
- 16,178‑square‑foot strip mall property
- Building constructed in 1953
- Located at 5685 N High St, Worthington, OH 43085
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Retail center offering an established commercial building with a substantial footprint.
Where is this strip mall located?
The property is located at 5685 N High St 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 strip mall property; Building constructed in 1953; Located at 5685 N High St, Worthington, OH 43085
