Freestanding Office/Warehouse
For Sale
Contact for pricing
6156 Wilcox Rd, Dublin, OH 43016
Two-floor Class A office space inside a freestanding warehouse building with dock doors and 22-foot clear height.
Property Size14,592 SF
Lot Size1.52 Acres
Price / SF$157.28
Days on Market470
Property Features for 6156 Wilcox Rd
General Information
Standard status
Active
Size
14,592 SF
Class
A
Lot size
1.52 Acres
Property subtype
OFFICE
Zoning
PID
Additional Details
Highway Access
Yes
Amenities
Gym with restrooms and showers
Commercial Leak Defense System
Onsite backup generator
Building Details
Stories
2
Listing Agency:
Alterra Real Estate Advisors
(380) 204-7784
Listed By:
Brad L Kitchen, SIOR
(614) 327-4366
Source:
Moodyscre
Added: Jun 1, 2025
Changed: Sep 9
Last Checked: Sep 13 at 8:50AM
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 Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
This freestanding building offers two floors of Class A office space totaling 14,592 USF, set on a 1.52-acre lot with additional room for expansion. The original plans included two dock doors with warehouse storage, supporting flexible operations within the same facility. Warehouse clear height reaches 22 feet.
Zoned PID (Planned Industrial District) within the City of Dublin, the property includes onsite parking and practical onsite amenities such as an onsite backup generator. Additional building features include a gym with restrooms and showers, along with a commercial leak defense system. It is located less than 1 mile from I-270, providing convenient access for business traffic.
With a parking ratio of 3.42 per 1,000, the layout supports day-to-day workforce needs while maintaining the integrated office-and-warehouse configuration.
Zoned PID (Planned Industrial District) within the City of Dublin, the property includes onsite parking and practical onsite amenities such as an onsite backup generator. Additional building features include a gym with restrooms and showers, along with a commercial leak defense system. It is located less than 1 mile from I-270, providing convenient access for business traffic.
With a parking ratio of 3.42 per 1,000, the layout supports day-to-day workforce needs while maintaining the integrated office-and-warehouse configuration.
Key Highlights
- Two‑floor Class A office space totaling 14,592 Total USF inside a freestanding warehouse building.
- Freestanding building on a 1.52 AC lot with additional room for expansion.
- PID (Planned Industrial District) zoning within the City of Dublin.
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
$179,657
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
7.83%
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%
$3,593,140
$3.6M
Cap Rate 7%
$2,566,529
$2.6M
Cap Rate 9%
$1,996,189
$2.0M
Market Conditions
NOI Build-Up for 14,592 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
$315.2K $21.60/SF
− Vacancy
−$75.6K −$5.18/SF
EGI
$239.5K $16.42/SF
− OpEx
−$59.9K −$4.10/SF
NOI
$179.7K $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%
$3,593,140
Cap Rate 7%
$2,566,529
Cap Rate 9%
$1,996,189
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $2.99M
NOI $179,657 @ 7.0% cap · market cap 7.83%
Second Best
Industrial
$2.42M
$2.12M – $2.83M
NOI $169,543 @ 7.0% cap · market cap 7.39%
Theoretical Best
Specialty Retail
$2.97M
$2.60M – $3.47M
NOI $208,242 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
587
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-floor Class A office space inside a freestanding warehouse building with dock doors and 22-foot clear height.
Where is this flex space located?
The property is located at 6156 Wilcox Rd Dublin, OH.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Two‑floor Class A office space totaling 14,592 Total USF inside a freestanding warehouse building.; Freestanding building on a 1.52 AC lot with additional room for expansion.; PID (Planned Industrial District) zoning within the City of Dublin.
