Fully Renovated Multifamily
595 East Broad Street Columbus, OH 43215
For Sale
$3,199,999
Fully renovated multifamily property with modernized units and a 12-year tax abatement enacted in 2023.
Property Size15,780 SF
Price / SF$202.79
Days on Market165
Property Features for 595 East Broad Street
General Information
Standard status
Active
Size
15,780 SF
Property subtype
Multi-Family / Midrise
Building Details
Year Built
1915
Listing Agency:
Verti Commercial Real Estate L
(614) 515-2995
Listed By:
Brett A Ludwig · License #2016004572
(614) 515-2995
Source:
Compass
Added: Feb 13
Changed: Jul 23
Last Checked: Jul 24 at 12:20PM
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 Verti Commercial Real Estate L
Investment Insights
Based on property information with market context.
This fully renovated multifamily asset features modernized units and a turnkey presentation, designed to support multiple revenue approaches, including short-term, mid-term, and conventional models. The property also benefits from a 12-year tax abatement enacted in 2023, which is described as sharply reducing operating expenses and improving cash flow during the hold period.
Located at 595 East Broad Street in Columbus, the listing notes proximity to the Broad St Corridor and Parsons Ave Corridor capital improvement plans, which are presented as supportive of long-term stability.
Curb offers only are indicated for this sale.
Located at 595 East Broad Street in Columbus, the listing notes proximity to the Broad St Corridor and Parsons Ave Corridor capital improvement plans, which are presented as supportive of long-term stability.
Curb offers only are indicated for this sale.
Key Highlights
- Fully renovated multifamily property with modernized units
- 12‑year tax abatement enacted in 2023
- Year built: 1915
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $210.2k | $13.32 |
| − Vacancy | −$13.7k | −$0.87 |
| EGI | $196.5k | $12.45 |
| − OpEx | −$88.4k | −$5.60 |
| NOI | $108.1k | $6.85 |
15,780 SF · lease $13.32/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,090 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,204 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated multifamily property with modernized units and a 12-year tax abatement enacted in 2023.
Where is this apartment building located?
The property is located at 595 East Broad Street Columbus, OH.
What is the asking price?
The asking price for this property is $3,199,999.
What are key features of this property?
This property features: Fully renovated multifamily property with modernized units; 12‑year tax abatement enacted in 2023; Year built: 1915
