Updated Short-Term Rental
For Sale
$329,000
7487 E Main Street Reynoldsburg, Reynoldsburg, OH 43068
Multi-use property operating as an Airbnb with refreshed interiors, dual HVAC systems, and included kitchen appliances.
Property Size2,064 SF
Price / SF$159.40
Days on Market57
Property Features for 7487 E Main Street Reynoldsburg
General Information
Standard status
Active
Size
2,064 SF
Zoning
multi-use
Net Operating Income
$19,000
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,950
Amenities
fireplace
shed
No
Public
0.1
2064.0
Building Details
Building Size
2,064 SF
Year Built
1908
Stories
2
Listing Agency:
(614) 660-5959
Listed By:
Yashar Bayramzade
(614) 660-5959
Source:
Movenowohio
Added: Jul 5
Changed: Aug 30
Last Checked: Aug 30 at 1:10PM
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 Yashar Bayramzade
Investment Insights
Based on property information with market context.
This 2,064-square-foot property, built in 1908, is currently operated as an Airbnb and carries multi-use zoning. The interior has been refreshed with new flooring, updated light fixtures, and improvements to both bathrooms. Separate HVAC systems serve the entry level and upper level, each with its own thermostat. Kitchen appliances less than 5 years old convey with the property, while most furnishings and décor are negotiable. Additional features include a decorative fireplace on the entry level, a wood-burning fireplace with a gas line in the upstairs primary suite, and a rear shed.
The property is located at 7487 E Main Street in Reynoldsburg, Ohio. Guests can walk to food and shopping, while the airport, New Albany, Etna, and interstate access are each described as being within convenient reach. Site improvements include a new concrete driveway from Main Street and an additional gravel drive behind the home.
The property is located at 7487 E Main Street in Reynoldsburg, Ohio. Guests can walk to food and shopping, while the airport, New Albany, Etna, and interstate access are each described as being within convenient reach. Site improvements include a new concrete driveway from Main Street and an additional gravel drive behind the home.
Key Highlights
- 2,064 SF property built in 1908
- Multi‑use zoning with current Airbnb operation
- New dimensional shingle roof installed in 2023
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
$21,329
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
6.48%
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%
$426,580
$426.6K
Cap Rate 7%
$304,700
$304.7K
Cap Rate 9%
$236,989
$237.0K
Market Conditions
NOI Build-Up for 2,064 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
$42.1K $20.40/SF
− Vacancy
−$3.3K −$1.61/SF
EGI
$38.8K $18.79/SF
− OpEx
−$17.5K −$8.45/SF
NOI
$21.3K $10.33/SF
Area
Franklin County, OH
Vacancy
7.90%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$426,580
Cap Rate 7%
$304,700
Cap Rate 9%
$236,989
Alternative Uses
Best Use
Apartment 5plus
$304.7K
$266.6K – $355.5K
NOI $21,329 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$420.8K
$368.2K – $490.9K
NOI $29,455 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
603
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 Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Multi-use property operating as an Airbnb with refreshed interiors, dual HVAC systems, and included kitchen appliances.
Where is this short term rental property located?
The property is located at 7487 E Main Street Reynoldsburg Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,064 SF property built in 1908; Multi‑use zoning with current Airbnb operation; New dimensional shingle roof installed in 2023
