Office Building with 2023
For Sale
$6,950,000
7400 Huntington Park Drive, Columbus, OH 43235
Updated building systems and adaptable floor plans support varied office configurations.
Property Size23,808 SF
Days on Market10
Property Features for 7400 Huntington Park Drive
General Information
Standard status
Active
Size
23,808 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
professional lobby
on-site property management
kitchen and cafeteria
showers
Building Details
Building Size
23,808 SF
Year Built
1998
Listing Agency:
Alterra Real Estate Advisors
(614) 327-4366
Listed By:
Bradford Kitchen, SIOR · License #2022007391
(614) 327-4366
Source:
Alterrare
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 21 at 4:17AM
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 office property at 7400 Huntington Park Drive combines an existing 1998 building with a 5,000-square-foot addition completed in 2023. The building includes a professional lobby, customizable floor plans, and restrooms distributed throughout the property, with showers provided. A kitchen and cafeteria are equipped with a hood and cooler, supporting on-site food service functions. Mechanical systems and the roof have been updated, adding to the building’s current physical improvements.
On-site property management is provided, and the property offers ample parking. Its Columbus, Ohio location provides access to major highways and established business districts. The office configuration can accommodate businesses seeking a professionally presented setting with shared amenity areas and adaptable interior planning.
On-site property management is provided, and the property offers ample parking. Its Columbus, Ohio location provides access to major highways and established business districts. The office configuration can accommodate businesses seeking a professionally presented setting with shared amenity areas and adaptable interior planning.
Key Highlights
- 5,000‑square‑foot addition completed in 2023
- Updated mechanical systems and roof
- Kitchen and cafeteria with hood and cooler
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
$312,942
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
4.50%
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%
$6,258,840
$6.3M
Cap Rate 7%
$4,470,600
$4.5M
Cap Rate 9%
$3,477,133
$3.5M
Market Conditions
NOI Build-Up for 23,808 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
$517.1K $21.72/SF
− Vacancy
−$99.9K −$4.19/SF
EGI
$417.3K $17.53/SF
− OpEx
−$104.3K −$4.38/SF
NOI
$312.9K $13.14/SF
Area
ZIP 43235
Vacancy
19.31%
Lease Rate
$21.72 /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%
$6,258,840
Cap Rate 7%
$4,470,600
Cap Rate 9%
$3,477,133
Alternative Uses
Best Use
Office B
$4.47M
$3.91M – $5.22M
NOI $312,942 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.82M
$4.22M – $5.62M
NOI $337,493 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 43235, OH
45,561
Population
20,855
Households
2.2
Avg Household Size
36
Median Age
59%
College-Educated
96%
High-School Grad
14.2 sq mi
ZIP Area
3,209
Density / Sq Mi
$86,758
Median Household Income
$54,814
Median Earnings
$1,412
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated building systems and adaptable floor plans support varied office configurations.
Where is this office building located?
The property is located at 7400 Huntington Park Drive Columbus, OH.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: 5,000‑square‑foot addition completed in 2023; Updated mechanical systems and roof; Kitchen and cafeteria with hood and cooler
