Multi-Room Office
For Sale
$220,000
765 Radio Drive, Lewis Center, OH 43035
Flexible professional suite with private rooms, on-site parking, and convenient access for client-facing operations.
Property Size1,450 SF
Price / SF$151.72
Days on Market312
Property Features for 765 Radio Drive
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Office / Mixed Use
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,774
Amenities
Gas
90.0
1
Building Details
Year Built
2003
Listing Agency:
Red 1 Realty
(313) 971-6080
Listed By:
Radhika Mukka · License #2018006127
(313) 971-6080
Source:
Compass
Added: Oct 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:06PM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This 1,450-square-foot office unit, built in 2003, features a layout with multiple private rooms or offices. The configuration can accommodate professional operations that require separated work areas and a client-facing setting, while allowing flexibility for individual or collaborative use. On-site parking and convenient entry support routine visits for staff and clients.
The property is located at 765 Radio Drive in Lewis Center, Ohio, near U.S. Route 23 and Polaris Parkway. The surrounding area combines residential development with established retail amenities, placing the office within an active commercial context. Its accessible setting and adaptable interior provide a practical foundation for a range of office-based operations.
The property is located at 765 Radio Drive in Lewis Center, Ohio, near U.S. Route 23 and Polaris Parkway. The surrounding area combines residential development with established retail amenities, placing the office within an active commercial context. Its accessible setting and adaptable interior provide a practical foundation for a range of office-based operations.
Key Highlights
- 1,450 SF office unit with multiple private rooms or offices
- Built in 2003
- On‑site parking and convenient entry
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
$17,852
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
8.11%
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%
$357,040
$357.0K
Cap Rate 7%
$255,029
$255.0K
Cap Rate 9%
$198,356
$198.4K
Market Conditions
NOI Build-Up for 1,450 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
$31.3K $21.60/SF
− Vacancy
−$7.5K −$5.18/SF
EGI
$23.8K $16.42/SF
− OpEx
−$6.0K −$4.10/SF
NOI
$17.9K $12.31/SF
Area
Delaware 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%
$357,040
Cap Rate 7%
$255,029
Cap Rate 9%
$198,356
Alternative Uses
Best Use
Office B
$255.0K
$223.2K – $297.5K
NOI $17,852 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$292.3K
$255.7K – $341.0K
NOI $20,458 @ 7.0% cap · market cap 9.30%
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
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 43035, OH
33,032
Population
12,595
Households
2.6
Avg Household Size
35
Median Age
67%
College-Educated
97%
High-School Grad
19.6 sq mi
ZIP Area
1,685
Density / Sq Mi
$148,446
Median Household Income
$72,809
Median Earnings
$1,580
Median Rent
$423,000
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 units - Flexible professional suite with private rooms, on-site parking, and convenient access for client-facing operations.
Where is this office units located?
The property is located at 765 Radio Drive Lewis Center, OH.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,450 SF office unit with multiple private rooms or offices; Built in 2003; On‑site parking and convenient entry
