Freestanding Brick Office
For Sale
$625,000
75 W 3rd Avenue, Columbus, OH 43201
Turnkey freestanding brick office offers seven private offices, conference room, kitchen, and three restrooms with eight dedicated parking spaces.
Property Size2,995 SF
Price / SF$208.68
Days on Market70
Property Features for 75 W 3rd Avenue
General Information
Standard status
Active
Size
2,995 SF
Total Parking Spaces
8
Amenities
conference room
fully equipped kitchen
Building Details
Construction
brick
Listing Agency:
MDC Realty Limited
(614) 383-9885
Listed By:
Jennifer A Rooney · License #2018004012
(614) 900-2215
Source:
Maryhatem
Added: Jul 3
Changed: Sep 9
Last Checked: Sep 9 at 10:27AM
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 MDC Realty Limited
Investment Insights
Based on property information with market context.
This beautifully renovated freestanding brick office building offers a turnkey work environment with seven spacious private offices, an open collaborative workspace, a large conference room, a fully equipped kitchen, and three restrooms. The layout is designed to support both focused work and shared office use.
Located in the heart of Victorian Village in Columbus, the property is described as being just steps from the Short North Arts District. The building also features eight dedicated on-site parking spaces, with additional metered street parking available for clients and employees.
Located in the heart of Victorian Village in Columbus, the property is described as being just steps from the Short North Arts District. The building also features eight dedicated on-site parking spaces, with additional metered street parking available for clients and employees.
Key Highlights
- 2,995 SF freestanding brick office building in Victorian Village, near Short North Arts District
- Renovated office with seven private offices plus open collaborative workspace
- Includes a large conference room and fully equipped kitchen
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
$34,602
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
5.54%
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%
$692,040
$692.0K
Cap Rate 7%
$494,314
$494.3K
Cap Rate 9%
$384,467
$384.5K
Market Conditions
NOI Build-Up for 2,995 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
$59.3K $19.80/SF
− Vacancy
−$13.2K −$4.40/SF
EGI
$46.1K $15.40/SF
− OpEx
−$11.5K −$3.85/SF
NOI
$34.6K $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 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%
$692,040
Cap Rate 7%
$494,314
Cap Rate 9%
$384,467
Alternative Uses
Best Use
Office B
$494.3K
$432.5K – $576.7K
NOI $34,602 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$624.2K
$546.2K – $728.2K
NOI $43,692 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,953
Businesses Nearby
Explore this area
Business Placement
Demographics for 43201, OH
37,528
Population
17,484
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
12,106
Density / Sq Mi
$43,451
Median Household Income
$21,792
Median Earnings
$1,299
Median Rent
$438,300
Median Home Value
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Market
Vacancy Rate% for Office in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Office building - Turnkey freestanding brick office offers seven private offices, conference room, kitchen, and three restrooms with eight dedicated parking spaces.
Where is this office building located?
The property is located at 75 W 3rd Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,995 SF freestanding brick office building in Victorian Village, near Short North Arts District; Renovated office with seven private offices plus open collaborative workspace; Includes a large conference room and fully equipped kitchen
