Modern Multi-Tenant Office
New
For Sale
$1,675,000
610 Taylor Station Rd, Gahanna, OH 43230
Fully leased office property with separate accommodations for two users and limited shared space.
Property Size6,400 SF
Days on Market2
Property Features for 610 Taylor Station Rd
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Office
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
6,400 SF
Year Built
2019
Tenancy
Multi
Listing Agency:
Kohr Royer Griffith
(614) 255-4369
Listed By:
Rob Gillie · License #2001007385
Source:
Krgre
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 8:34AM
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 Kohr Royer Griffith
Investment Insights
Based on property information with market context.
Built in 2019, this office building is fully leased and configured for two independent occupants. The layout minimizes common areas while supporting separate office users within one commercial property. Its recent construction provides a contemporary office setting for the existing tenancy.
The property is located in East Columbus near Mt. Carmel East and is less than 10 minutes from Interstate 270. A 75% CRA tax abatement remains in place through 2034, adding a defined tax-benefit term to the investment profile.
The property is located in East Columbus near Mt. Carmel East and is less than 10 minutes from Interstate 270. A 75% CRA tax abatement remains in place through 2034, adding a defined tax-benefit term to the investment profile.
Key Highlights
- Built in 2019
- Fully leased to two independent office users
- Efficient multi‑tenant layout with minimal common areas
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
$63,913
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
3.82%
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%
$1,278,260
$1.3M
Cap Rate 7%
$913,043
$913.0K
Cap Rate 9%
$710,144
$710.1K
Market Conditions
NOI Build-Up for 6,400 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
$112.1K $17.52/SF
− Vacancy
−$26.9K −$4.20/SF
EGI
$85.2K $13.32/SF
− OpEx
−$21.3K −$3.33/SF
NOI
$63.9K $9.99/SF
Area
ZIP 43230
Vacancy
24.00%
Lease Rate
$17.52 /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%
$1,278,260
Cap Rate 7%
$913,043
Cap Rate 9%
$710,144
Alternative Uses
Best Use
Office B
$913.0K
$798.9K – $1.07M
NOI $63,913 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $84,984 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 43230, OH
58,372
Population
26,170
Households
2.2
Avg Household Size
37
Median Age
50%
College-Educated
96%
High-School Grad
20.4 sq mi
ZIP Area
2,861
Density / Sq Mi
$92,271
Median Household Income
$53,832
Median Earnings
$1,407
Median Rent
$282,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased office property with separate accommodations for two users and limited shared space.
Where is this office building located?
The property is located at 610 Taylor Station Rd Gahanna, OH.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Built in 2019; Fully leased to two independent office users; Efficient multi‑tenant layout with minimal common areas
