Industrial Flex
For Sale
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6141 Avery Rd, Dublin, OH 43016
Versatile industrial/flex building offering 20,183 SF with a functional layout and modern amenities.
Property Size20,183 SF
Price / SF$218.01
Days on Market290
Property Features for 6141 Avery Rd
General Information
Standard status
Active
Size
20,183 SF
Property subtype
FLEX_R_AND_D
Zoning
TF
Building Details
Year Built
1995
Listing Agency:
Lee & Associates | Columbus
Listed By:
Todd Spencer, SIOR, CCIM
(614) 923-3300
Source:
Moodyscre
Added: Nov 27, 2025
Changed: Aug 14
Last Checked: Sep 13 at 11:35AM
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 Lee & Associates | Columbus
Investment Insights
Based on property information with market context.
This versatile industrial flex warehouse totals 20,183 SF and was built in 1995. The property is described as well-maintained and designed to support a range of industrial and flex operations, with modern amenities and a practical layout.
The site is located in the Dublin area and is zoned TF: Technology Flex District. The configuration is intended to accommodate diverse business operations, making it suitable for industrial and flex space tenants seeking a flexible facility.
Overall, the building’s combination of size, functional design, and maintained condition supports a broad set of industrial and flex use needs within the TF zoning district.
The site is located in the Dublin area and is zoned TF: Technology Flex District. The configuration is intended to accommodate diverse business operations, making it suitable for industrial and flex space tenants seeking a flexible facility.
Overall, the building’s combination of size, functional design, and maintained condition supports a broad set of industrial and flex use needs within the TF zoning district.
Key Highlights
- Versatile industrial/flex building with 20,183 SF
- Built in 1995 with modern amenities
- Zoned TF: Technology Flex District
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
$234,504
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
5.33%
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%
$4,690,080
$4.7M
Cap Rate 7%
$3,350,057
$3.4M
Cap Rate 9%
$2,605,600
$2.6M
Market Conditions
NOI Build-Up for 20,183 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
$440.8K $21.84/SF
− Vacancy
−$105.8K −$5.24/SF
EGI
$335.0K $16.60/SF
− OpEx
−$100.5K −$4.98/SF
NOI
$234.5K $11.62/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /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%
$4,690,080
Cap Rate 7%
$3,350,057
Cap Rate 9%
$2,605,600
Alternative Uses
Best Use
Industrial
$3.35M
$2.93M – $3.91M
NOI $234,504 @ 7.0% cap · market cap 5.33%
Second Best
Flex RnD
$1.09M
$954.8K – $1.27M
NOI $76,386 @ 7.0% cap · market cap 1.74%
Theoretical Best
Specialty Retail
$4.11M
$3.60M – $4.80M
NOI $288,031 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43016, OH
44,517
Population
19,919
Households
2.2
Avg Household Size
36
Median Age
69%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
2,343
Density / Sq Mi
$110,518
Median Household Income
$69,917
Median Earnings
$1,530
Median Rent
$413,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial/flex building offering 20,183 SF with a functional layout and modern amenities.
Where is this flex space located?
The property is located at 6141 Avery Rd Dublin, OH.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Versatile industrial/flex building with 20,183 SF; Built in 1995 with modern amenities; Zoned TF: Technology Flex District
