Listing Agency: Hanna Commercial Real Estate | Central Ohio Show Phone

Listed By: Ashley Simonton · License #2019006714 Show Phone

Source: Moodyscre

Added: Aug 26, 2025 Changed: Aug 8 Last Checked: Aug 25 at 9:18AM

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Investment Insights

Based on property information with market context.

This stand-alone industrial building, located just east of downtown Columbus, presents an investment opportunity. The property features a new 5-year lease with a 5-year option, signed on March 1, 2025. The building has 7,020 square feet of space, with approximately 3,930 square feet designated as office space and 3,090 square feet for warehouse use, situated on 0.61 acres of land. The office area includes an entry/waiting area, seven offices (one executive, one oversized, and five standard), a large conference room, and an open workspace. There is also a kitchenette with a seating area and two restrooms (men's and women's). The warehouse portion includes two restrooms (men's and women's), multiple storage/closet spaces, and a 10’ x 10’ drive-in door. The clear height is 13’+. Ample parking is available. The property is located less than one mile (0.8) from the I-670 and Leonard Avenue on/off ramps.

Key Highlights

• New 5‑Year Lease with 5‑Year Option (signed 3/1/2025)
• 7.76% CAP Rate** at $950,000 Asking Price
• Stand‑alone Industrial Building Just East of Downtown Columbus

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,104

Cap Rate

8.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,622,080 $1.6M

Cap Rate 7%

$1,158,629 $1.2M

Cap Rate 9%

$901,156 $901.2K

Market Conditions

NOI Build-Up for 7,020 SF

Gross rent

$139.0K $19.80/SF

− Vacancy

−$30.9K −$4.40/SF

EGI

$108.1K $15.40/SF

− OpEx

−$27.0K −$3.85/SF

NOI

$81.1K $11.55/SF

Area

Columbus, OH

Vacancy

22.20%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,622,080

Cap Rate 7%

$1,158,629

Cap Rate 9%

$901,156

Alternative Uses

Best Use

Office B

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,104 @ 7.0% cap · market cap 8.54%

Second Best

Warehouse

$481.5K

$421.3K – $561.8K (±1% cap)

NOI $33,706 @ 7.0% cap · market cap 3.55%

Theoretical Best

Office A

$1.46M

$1.28M – $1.71M (±1% cap)

NOI $102,410 @ 7.0% cap · market cap 10.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Spectrum Lighting Inc (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Spa & Massage Center Law Firm Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

788

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Office in Columbus, OH

14.1% 2019

20.2% 2020

23.4% 2021

26.3% 2022

25.6% 2023

24.1% 2024

23.5% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Stand-alone industrial building near downtown Columbus with new 5-year lease.

Where is this warehouse located?

The property is located at 700 TAYLOR AV Columbus, OH.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: New 5‑Year Lease with 5‑Year Option (signed 3/1/2025); 7.76% CAP Rate** at $950,000 Asking Price; Stand‑alone Industrial Building Just East of Downtown Columbus