Two-Story Office
For Sale
$5,800,000
807 Kinnear Road, Columbus, OH 43212
Two-story office building with a glass atrium, 93 parking spaces, and a new roof for office or medical use.
Property Size29,000 SF
Price / SF$200
Days on Market59
Property Features for 807 Kinnear Road
General Information
Standard status
Active
Size
29,000 SF
Class
B
Total Parking Spaces
93
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
29,000 SF
Year Built
1996
Stories
2
Listing Agency:
Elford Realty, Inc
(614) 582-5521
Listed By:
Andy Mills, SIOR, CCIM
Source:
Elfordrealty
Added: Jul 4
Changed: Aug 26
Last Checked: Aug 31 at 3:10PM
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 Elford Realty, Inc
Investment Insights
Based on property information with market context.
The property is a highly visible, two-story office building offering approximately 29,000 square feet of space. The design includes a large glass atrium, and recent improvements include a new roof. The building provides 93 parking spaces, supporting convenient access for occupants and visitors. The offering is also described as accommodating short-term lease structures for flexibility with existing tenancy and potential owner-occupant occupancy.
The building is located in the Upper Arlington/Grandview/OSU corridor with visibility and signage along Kinnear Road. The remarks cite proximity to Lennox Town Center, Ohio State and West Campus, SR 315, I-670, and Downtown Columbus.
The highest and best use is stated to support both office and medical users, aligning the building’s configuration with professional and healthcare-oriented requirements.
The building is located in the Upper Arlington/Grandview/OSU corridor with visibility and signage along Kinnear Road. The remarks cite proximity to Lennox Town Center, Ohio State and West Campus, SR 315, I-670, and Downtown Columbus.
The highest and best use is stated to support both office and medical users, aligning the building’s configuration with professional and healthcare-oriented requirements.
Key Highlights
- Highly visible 29,000 SF two‑story office building in the Upper Arlington/Grandview/OSU corridor
- Prominent Kinnear Road frontage with signage opportunities
- Large glass atrium design
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
$345,773
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
5.96%
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%
$6,915,460
$6.9M
Cap Rate 7%
$4,939,614
$4.9M
Cap Rate 9%
$3,841,922
$3.8M
Market Conditions
NOI Build-Up for 29,000 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
$626.4K $21.60/SF
− Vacancy
−$50.1K −$1.73/SF
EGI
$576.3K $19.87/SF
− OpEx
−$230.5K −$7.95/SF
NOI
$345.8K $11.92/SF
Area
Columbus, OH
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$6,915,460
Cap Rate 7%
$4,939,614
Cap Rate 9%
$3,841,922
Alternative Uses
Best Use
Healthcare Medical
$4.94M
$4.32M – $5.76M
NOI $345,773 @ 7.0% cap · market cap 5.96%
Second Best
Office B
$4.79M
$4.19M – $5.58M
NOI $335,046 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$6.04M
$5.29M – $7.05M
NOI $423,062 @ 7.0% cap · market cap 7.29%
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
2,111
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 - Two-story office building with a glass atrium, 93 parking spaces, and a new roof for office or medical use.
Where is this office building located?
The property is located at 807 Kinnear Road Columbus, OH.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Highly visible 29,000 SF two‑story office building in the Upper Arlington/Grandview/OSU corridor; Prominent Kinnear Road frontage with signage opportunities; Large glass atrium design
