6-Unit Apartment
For Sale
Contact for pricing
786 792 THOMAS AVE COLUMBUS OH 43223, Columbus, OH 43223
Six residential units offer a consistent two-bedroom, two-bath layout within a multi-family property.
Property Size5,400 SF
Price / SF$110.19
Days on Market72
Property Features for 786 792 THOMAS AVE COLUMBUS OH 43223
General Information
Standard status
Active
Size
5,400 SF
Total Parking Spaces
12
Property subtype
Multifamily
Zoning
Multi-family
Building Details
Year Renovated
2026
Units
6
Tenancy
Multi
Listing Agency:
Platz Realty Group
Listed By:
Gregg Divelbiss · License #OH2024000896
(614) 975-7311
Source:
Crexi
Added: Aug 7
Changed: Oct 5
Last Checked: Oct 16 at 8:58AM
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 Platz Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-family property contains 6 apartment units totaling 5,400 square feet. Each residence is configured with 2 bedrooms and 2 bathrooms, creating a uniform unit mix across the building. The property is designated for Multi-family use.
Located at 786 792 Thomas Ave in Columbus, Ohio, the asset is positioned south of downtown in the Franklinton area. The surrounding neighborhood is described as historic, arts-focused, and undergoing revitalization, with an urban-suburban character.
Located at 786 792 Thomas Ave in Columbus, Ohio, the asset is positioned south of downtown in the Franklinton area. The surrounding neighborhood is described as historic, arts-focused, and undergoing revitalization, with an urban-suburban character.
Key Highlights
- 6 apartment units totaling 5,400 square feet
- Every unit includes 2 bedrooms and 2 bathrooms
- Multi‑family zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,989
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$739,780
$739.8K
Cap Rate 7%
$528,414
$528.4K
Cap Rate 9%
$410,989
$411.0K
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$71.9K $13.32/SF
− Vacancy
−$4.7K −$0.87/SF
EGI
$67.3K $12.45/SF
− OpEx
−$30.3K −$5.60/SF
NOI
$37.0K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$739,780
Cap Rate 7%
$528,414
Cap Rate 9%
$410,989
Alternative Uses
Best Use
Apartment 5plus
$528.4K
$462.4K – $616.5K
NOI $36,989 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,777 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Explore this area
Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Six residential units offer a consistent two-bedroom, two-bath layout within a multi-family property.
Where is this apartment building located?
The property is located at 786 792 THOMAS AVE COLUMBUS OH 43223 Columbus, OH.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 6 apartment units totaling 5,400 square feet; Every unit includes 2 bedrooms and 2 bathrooms; Multi‑family zoning
