Office Suite with Reception
For Sale
Contact for pricing
723 3rd Street #B, Columbus, IN 47201
A private restroom, on-site parking, and 3rd Street signage support the suite’s practical office layout.
Property Size2,868 SF
Price / SF$0.42
Days on Market29
Property Features for 723 3rd Street #B
General Information
Standard status
Active
Size
2,868 SF
Property subtype
Office
Additional Details
Property Use
Office
Listing Agency:
eXp Realty, LLC
Listed By:
LockStep Realty
(317) 218-9625
Source:
Locksteprealty
Added: Oct 2
Changed: Oct 28
Last Checked: Oct 28 at 3:00PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This office suite offers more than 600 square feet, with a private office, reception and waiting area, break-room space, storage closet, and private restroom. The reception area can be divided to form another private office or a conference room. The space is described as well maintained, and immediate possession is available.
The property is on 3rd Street, where signage opportunities are available. More than 15,000 vehicles pass by daily, and on-site parking serves the property. The layout includes a mix of client-facing space and private work areas.
The property is on 3rd Street, where signage opportunities are available. More than 15,000 vehicles pass by daily, and on-site parking serves the property. The layout includes a mix of client-facing space and private work areas.
Key Highlights
- More than 600 square feet of office space
- Reception and waiting area can be divided for a private office or conference room
- Large private office, break‑room space, storage closet, and private restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,372
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,440
$387.4K
Cap Rate 7%
$276,743
$276.7K
Cap Rate 9%
$215,244
$215.2K
Market Conditions
NOI Build-Up for 2,868 SF
Gross rent
$32.7K $11.40/SF
− Vacancy
−$6.9K −$2.39/SF
EGI
$25.8K $9.01/SF
− OpEx
−$6.5K −$2.25/SF
NOI
$19.4K $6.75/SF
Area
Bartholomew County, IN
Vacancy
21.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,440
Cap Rate 7%
$276,743
Cap Rate 9%
$215,244
Alternative Uses
Best Use
Office B
$276.7K
$242.2K – $322.9K
NOI $19,372 @ 7.0% cap · market cap 1,614.33%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$554.4K
$485.1K – $646.9K
NOI $38,811 @ 7.0% cap · market cap 3,234.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
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Business Placement
Demographics for 47201, IN
45,969
Population
20,924
Households
2.2
Avg Household Size
36
Median Age
36%
College-Educated
92%
High-School Grad
201.2 sq mi
ZIP Area
228
Density / Sq Mi
$82,667
Median Household Income
$46,243
Median Earnings
$1,159
Median Rent
$217,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A private restroom, on-site parking, and 3rd Street signage support the suite’s practical office layout.
Where is this office unit located?
The property is located at 723 3rd Street #B Columbus, IN.
What are key features of this property?
This property features: More than 600 square feet of office space; Reception and waiting area can be divided for a private office or conference room; Large private office, break‑room space, storage closet, and private restroom
