Renovated Office
For Sale
$399,900
7315 E Main St, Reynoldsburg, OH 43068
Historic-district property with flexible layout, original architectural details, and dedicated parking.
Property Size1,105 SF
Price / SF$361.90
Days on Market46
Property Features for 7315 E Main St
General Information
Standard status
Active
Size
1,105 SF
Total Parking Spaces
11
Amenities
decorative fireplace
Building Details
Year Built
1900
Year Renovated
2015
Buildings
1
Listing Agency:
Real of Ohio
(614) 778-5540
Listed By:
Megan L Bell · License #371901
Source:
Dreamcolumbus
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 29 at 10:39AM
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 Real of Ohio
Investment Insights
Based on property information with market context.
This office building combines a 2015 remodel with retained historic features, including broad baseboards and a decorative fireplace. The layout supports a range of office configurations and can accommodate private offices, shared workspace, or other commercial concepts identified for the property. Dedicated parking is included, adding practical convenience for occupants and visitors.
The property is located at 7315 E Main St in Reynoldsburg’s historic district, directly across from the Lancaster Avenue traffic signal. Major building updates include the roof and windows in 2015 and the A/C system in 2018. The building is available for immediate occupancy.
The property is located at 7315 E Main St in Reynoldsburg’s historic district, directly across from the Lancaster Avenue traffic signal. Major building updates include the roof and windows in 2015 and the A/C system in 2018. The building is available for immediate occupancy.
Key Highlights
- 2015 building remodel with retained historic interior details
- 11 dedicated parking spaces
- Roof and windows updated in 2015
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
$13,605
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
3.40%
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%
$272,100
$272.1K
Cap Rate 7%
$194,357
$194.4K
Cap Rate 9%
$151,167
$151.2K
Market Conditions
NOI Build-Up for 1,105 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
$23.9K $21.60/SF
− Vacancy
−$5.7K −$5.18/SF
EGI
$18.1K $16.42/SF
− OpEx
−$4.5K −$4.10/SF
NOI
$13.6K $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%
$272,100
Cap Rate 7%
$194,357
Cap Rate 9%
$151,167
Alternative Uses
Best Use
Office B
$194.4K
$170.1K – $226.8K
NOI $13,605 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$225.3K
$197.1K – $262.8K
NOI $15,769 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
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?
Office building - Historic-district property with flexible layout, original architectural details, and dedicated parking.
Where is this office building located?
The property is located at 7315 E Main St Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2015 building remodel with retained historic interior details; 11 dedicated parking spaces; Roof and windows updated in 2015
