Secured Flex Space
For Sale
$3,850,000
808 Rhoads Avenue, Columbus, OH 43205
Renovated office and warehouse improvements support secured industrial, logistics, construction, and fleet operations.
Property Size35,756 SF
Lot Size2.78 Acres
Price / SF$107.67
Days on Market146
Property Features for 808 Rhoads Avenue
General Information
Standard status
Active
Size
35,756 SF
Total Parking Spaces
45
Lot size
2.78 Acres
Property subtype
Commercial
Zoning
M
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
17 ft
Office Build-Out
6,170 SF
Dock-High Doors
3
Drive-In Doors
2
Column Spacing
22 x 45 ft
Taxes and HOA fees
Annual Taxes
$30,106
Amenities
boardroom
bullpen space
full kitchen
employee locker room
Building Details
Building Size
35,756 SF
Year Built
1949
Listing Agency:
Koon Property Group
(614) 561-8338
Listed By:
James T Koon · License #2010003803
(614) 561-8338
Source:
Carolgoffrealestate
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 25 at 9:12AM
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 Koon Property Group
Investment Insights
Based on property information with market context.
This flex space facility combines a renovated office wing with substantial warehouse improvements on a 2.78-acre site. The office area includes 6,170 SF with 8 hardwall offices, a boardroom, bullpen space, and a full kitchen. Warehouse features include 17-foot clear height, 22-by-45-foot column spacing, floor drains, a fleet manager office, an employee locker room, two 12-foot drive-in doors, and three dock-height doors.
Site improvements completed within the last three years include a new roof, upgraded electrical service, underground detention, and newly paved parking. The property also includes a fully fenced secured gravel area at the rear for laydown, heavy equipment storage, or fleet parking, along with 45 paved spaces in the secured front lot. Immediate access to I-70 places the facility minutes from Downtown Columbus and John Glenn International Airport.
Site improvements completed within the last three years include a new roof, upgraded electrical service, underground detention, and newly paved parking. The property also includes a fully fenced secured gravel area at the rear for laydown, heavy equipment storage, or fleet parking, along with 45 paved spaces in the secured front lot. Immediate access to I-70 places the facility minutes from Downtown Columbus and John Glenn International Airport.
Key Highlights
- 2.78‑acre fully fenced site with secured front and rear lots
- 6,170 SF renovated office wing with 8 hardwall offices, boardroom, bullpen, and full kitchen
- 17' clear warehouse height with 22' x 45' column spacing
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
$171,681
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
4.46%
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%
$3,433,620
$3.4M
Cap Rate 7%
$2,452,586
$2.5M
Cap Rate 9%
$1,907,567
$1.9M
Market Conditions
NOI Build-Up for 35,756 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
$218.8K $6.12/SF
− Vacancy
−$16.8K −$0.47/SF
EGI
$202.0K $5.65/SF
− OpEx
−$30.3K −$0.85/SF
NOI
$171.7K $4.80/SF
Area
Columbus, OH
Vacancy
7.70%
Lease Rate
$6.12 /SF/Yr
Expense Ratio
15.00%
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%
$3,433,620
Cap Rate 7%
$2,452,586
Cap Rate 9%
$1,907,567
Alternative Uses
Best Use
Office B
$5.90M
$5.16M – $6.89M
NOI $413,100 @ 7.0% cap · market cap 10.73%
Second Best
Flex RnD
$5.08M
$4.44M – $5.92M
NOI $355,315 @ 7.0% cap · market cap 9.23%
Theoretical Best
Office A
$7.45M
$6.52M – $8.69M
NOI $521,621 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17 ft
Clear height
3
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43205, OH
12,044
Population
7,303
Households
1.6
Avg Household Size
35
Median Age
41%
College-Educated
89%
High-School Grad
2.4 sq mi
ZIP Area
5,018
Density / Sq Mi
$54,214
Median Household Income
$41,219
Median Earnings
$1,050
Median Rent
$290,800
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?
Flex space - Renovated office and warehouse improvements support secured industrial, logistics, construction, and fleet operations.
Where is this flex space located?
The property is located at 808 Rhoads Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 2.78‑acre fully fenced site with secured front and rear lots; 6,170 SF renovated office wing with 8 hardwall offices, boardroom, bullpen, and full kitchen; 17' clear warehouse height with 22' x 45' column spacing
