Distinctive Office Building with Garage
For Sale
Contact for pricing
5815 Wall St, Dublin, OH 43017
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 Market134
Property Features for 5815 Wall St
General Information
Standard status
Active
Size
22,514 SF
Property subtype
RETAIL
Properties For Sale
at 5815 Wall St Contact us- Floor
- Bldg
- Size
- 22,514 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
5815 Wall St
Positioned in the heart of Dublin, one of Central
Ohio’s most sought after and...
show more
Contact us
Listing Agency:
Allied Real Estate Advisors
(614) 245-3487
Listed By:
Ryan McHugh · License #2019002855
(614) 940-2978
Source:
Moodyscre
Added: Apr 27
Changed: Aug 8
Last Checked: Jul 21 at 12:43PM
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Explore this area
Business Placement
Demographics for 43017, OH
43,619
Population
16,819
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
16.1 sq mi
ZIP Area
2,709
Density / Sq Mi
$133,116
Median Household Income
$67,448
Median Earnings
$1,563
Median Rent
$475,200
Median Home Value
Market
Vacancy Rate% for Office 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?
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 St 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
