Updated Office Building with
For Sale
$989,000
786 Northwest Boulevard, Columbus, OH 43212
Updated office building featuring eight private offices, a centered conference room, and a fully equipped kitchen.
Property Size2,860 SF
Price / SF$345.80
Days on Market127
Property Features for 786 Northwest Boulevard
General Information
Standard status
Active
Size
2,860 SF
Property subtype
General Commercial
Additional Details
Office Units
8
Taxes and HOA fees
Annual Taxes
$14,916
Amenities
3
8 Parking Spaces.
Building Details
Year Built
1953
Listing Agency:
RE/MAX Connection
(614) 623-8794
Listed By:
Gary Hoch · License #430474
(614) 623-8794
Source:
Xome
Added: Apr 19
Changed: Aug 23
Last Checked: Aug 22 at 9:22AM
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 RE/MAX Connection
Investment Insights
Based on property information with market context.
This completely updated office building offers a centered conference room, extra-spacious lobby area, and a reception desk. The layout includes eight private office areas and a fully equipped, appliance-ready kitchen. A center hall design provides straightforward access and supports efficient office flow, with additional charm and character noted throughout.
Located on Northwest Blvd at the corner of Goodale, the property also backs to Grandview Yard, placing it near restaurants, shopping, housing, and schools serving central Ohio. The building is described as move-in ready and well suited for a range of business uses.
Located on Northwest Blvd at the corner of Goodale, the property also backs to Grandview Yard, placing it near restaurants, shopping, housing, and schools serving central Ohio. The building is described as move-in ready and well suited for a range of business uses.
Key Highlights
- Updated office building with 8 private office areas
- Centered conference room designed for meetings and client use
- Extra spacious lobby with reception desk for front‑desk operations
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
$33,042
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
3.34%
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%
$660,840
$660.8K
Cap Rate 7%
$472,029
$472.0K
Cap Rate 9%
$367,133
$367.1K
Market Conditions
NOI Build-Up for 2,860 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
$56.6K $19.80/SF
− Vacancy
−$12.6K −$4.40/SF
EGI
$44.1K $15.40/SF
− OpEx
−$11.0K −$3.85/SF
NOI
$33.0K $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%
$660,840
Cap Rate 7%
$472,029
Cap Rate 9%
$367,133
Alternative Uses
Best Use
Office B
$472.0K
$413.0K – $550.7K
NOI $33,042 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$596.0K
$521.5K – $695.4K
NOI $41,723 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Office units
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 43212, OH
24,171
Population
13,506
Households
1.8
Avg Household Size
30
Median Age
78%
College-Educated
98%
High-School Grad
3.7 sq mi
ZIP Area
6,533
Density / Sq Mi
$74,952
Median Household Income
$59,037
Median Earnings
$1,382
Median Rent
$514,800
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 office building featuring eight private offices, a centered conference room, and a fully equipped kitchen.
Where is this office building located?
The property is located at 786 Northwest Boulevard Columbus, OH.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Updated office building with 8 private office areas; Centered conference room designed for meetings and client use; Extra spacious lobby with reception desk for front‑desk operations
