Distinctive Office Building with Garage
For Sale
Contact for pricing
5815 Wall Street, Dublin, OH 10011
Updated office building offering a mix of open workspace and private offices, plus expansive garage-style doors and ample parking.
Property Size22,514 SF
Price / SF$224.97
Days on Market138
Property Features for 5815 Wall Street
General Information
Standard status
Active
Size
22,514 SF
Property subtype
Office
Lease Type
Modified Gross
Building Details
Year Renovated
2020
Buildings
1
Listing Agency:
Allied Real Estate Advisors
Listed By:
Ross Lanford · License #SAL.2006002024
(614) 906-5757
Source:
Crexi
Added: Apr 29
Changed: Sep 10
Last Checked: Sep 13 at 6:48AM
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 Allied Real Estate Advisors
Investment Insights
Based on property information with market context.
5815 Wall St is a recently updated office building featuring a combination of open-concept workspace and private offices. The interior finishes have been described as high-end and immaculate, and the layout is designed to support both collaboration and focused work.
The property includes expansive garage-style doors intended to create an indoor-outdoor experience with abundant natural light. It also offers ample on-site parking for employees and visitors.
Overall, the building is presented as a flexible, modern office environment within the Dublin, Ohio submarket.
The property includes expansive garage-style doors intended to create an indoor-outdoor experience with abundant natural light. It also offers ample on-site parking for employees and visitors.
Overall, the building is presented as a flexible, modern office environment within the Dublin, Ohio submarket.
Key Highlights
- Updated office building with high‑end finishes throughout
- Flexible interior layout with open‑concept workspace and private offices
- Expansive garage‑style doors designed for an indoor‑outdoor experience
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
$277,192
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
5.47%
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%
$5,543,840
$5.5M
Cap Rate 7%
$3,959,886
$4.0M
Cap Rate 9%
$3,079,911
$3.1M
Market Conditions
NOI Build-Up for 22,514 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
$486.3K $21.60/SF
− Vacancy
−$116.7K −$5.18/SF
EGI
$369.6K $16.42/SF
− OpEx
−$92.4K −$4.10/SF
NOI
$277.2K $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%
$5,543,840
Cap Rate 7%
$3,959,886
Cap Rate 9%
$3,079,911
Alternative Uses
Best Use
Office B
$3.96M
$3.46M – $4.62M
NOI $277,192 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.59M
$4.02M – $5.35M
NOI $321,297 @ 7.0% cap · market cap 6.34%
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
697
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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 building - Updated office building offering a mix of open workspace and private offices, plus expansive garage-style doors and ample parking.
Where is this office building located?
The property is located at 5815 Wall Street Dublin, OH.
What is the asking price?
The asking price for this property is $5,065,000.
What are key features of this property?
This property features: Updated office building with high‑end finishes throughout; Flexible interior layout with open‑concept workspace and private offices; Expansive garage‑style doors designed for an indoor‑outdoor experience
