Updated Technology Flex
For Sale
$2,400,000
6150 Avery Road, Dublin, OH 43016
Modernized flex property combines office and warehouse functionality with fabrication capability and flexible TF District uses.
Property Size7,000 SF
Price / SF$342.86
Days on Market11
Property Features for 6150 Avery Road
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
20
Property subtype
Other Ind
Zoning
TF
Warehouse & Industrial
Drive-In Doors
1
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$35,817
Building Details
Building Size
7,000 SF
Year Built
1977
Listing Agency:
Cutler Real Estate
(740) 616-5500
Listed By:
Kim Christensen · License #2020001767
(740) 616-5500
Source:
Camtaylor
Added: Aug 11
Changed: Aug 16
Last Checked: Aug 20 at 12:46PM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This 7,000-square-foot flex property combines office and warehouse areas within a building constructed in 1977. Recent improvements include new flooring, LED lighting, updated HVAC, and a heated roof. A 10-foot drive-in door supports loading access, while the fabrication room is equipped with 3-phase electric. The site also includes a 24-by-12-foot shed and 20 parking spaces.
Positioned at 6150 Avery Road in Dublin, the property is located a couple of miles from 161/33 and I-270. It is designated within the Technology Flex (TF) District, which supports research, office, laboratory, clean manufacturing, and light-industrial uses. The range of permitted uses accommodates multiple operational formats within a single flex setting.
Positioned at 6150 Avery Road in Dublin, the property is located a couple of miles from 161/33 and I-270. It is designated within the Technology Flex (TF) District, which supports research, office, laboratory, clean manufacturing, and light-industrial uses. The range of permitted uses accommodates multiple operational formats within a single flex setting.
Key Highlights
- 7,000 SF flex office/warehouse property
- Technology Flex (TF) District designation
- 10' drive‑in door and fabrication room with 3‑phase electric
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
$98,760
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
4.12%
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%
$1,975,200
$2.0M
Cap Rate 7%
$1,410,857
$1.4M
Cap Rate 9%
$1,097,333
$1.1M
Market Conditions
NOI Build-Up for 7,000 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
$152.9K $21.84/SF
− Vacancy
−$36.7K −$5.24/SF
EGI
$116.2K $16.60/SF
− OpEx
−$17.4K −$2.49/SF
NOI
$98.8K $14.11/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
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%
$1,975,200
Cap Rate 7%
$1,410,857
Cap Rate 9%
$1,097,333
Alternative Uses
Best Use
Warehouse
$1.41M
$1.23M – $1.65M
NOI $98,760 @ 7.0% cap · market cap 4.12%
Second Best
Office B
$1.23M
$1.08M – $1.44M
NOI $86,184 @ 7.0% cap · market cap 3.59%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.66M
NOI $99,897 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
949
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Modernized flex property combines office and warehouse functionality with fabrication capability and flexible TF District uses.
Where is this flex space located?
The property is located at 6150 Avery Road Dublin, OH.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 7,000 SF flex office/warehouse property; Technology Flex (TF) District designation; 10' drive‑in door and fabrication room with 3‑phase electric
