Secured Flex Space
New
For Sale
$3,850,000
808 Rhoads Ave, Columbus, OH 43205
Renovated office space and secured yard areas support industrial, logistics, construction, and fleet operations.
Property Size35,723 SF
Price / SF$107.77
Days on Market3
Property Features for 808 Rhoads Ave
General Information
Standard status
Active
Size
35,723 SF
Building Details
Year Built
1949
Listing Agency:
Koon Property Group
Listed By:
James T Koon · License #2010003803
(614) 561-8338
Source:
Thetomlinson
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 8:33AM
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 warehouse and site improvements. The office component measures 6,170 square feet and includes 8 hardwall offices, a boardroom, bullpen area, and full kitchen. Warehouse features include 17-foot clear height, 22-by-45-foot column spacing, floor drains, a fleet manager office, employee locker room, two 12-foot drive-in doors, and three dock-height doors.
The property occupies 2.78 acres and is fully fenced. Recent improvements include a new roof, upgraded electrical service, underground detention, and newly paved parking. A secured front lot provides 45 paved spaces, while the rear gravel area offers fenced storage space for laydown, equipment, or fleet parking. Immediate access to I-70 places the facility minutes from Downtown Columbus and John Glenn International Airport.
The property occupies 2.78 acres and is fully fenced. Recent improvements include a new roof, upgraded electrical service, underground detention, and newly paved parking. A secured front lot provides 45 paved spaces, while the rear gravel area offers fenced storage space for laydown, equipment, or fleet parking. Immediate access to I-70 places the facility minutes from Downtown Columbus and John Glenn International Airport.
Key Highlights
- 6,170‑square‑foot renovated office wing with 8 hardwall offices, boardroom, bullpen area, and full kitchen
- Warehouse includes 17' clear height and 22' x 45' column spacing
- Two 12' drive‑in doors plus three dock‑height doors
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
$171,522
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%
$3,430,440
$3.4M
Cap Rate 7%
$2,450,314
$2.5M
Cap Rate 9%
$1,905,800
$1.9M
Market Conditions
NOI Build-Up for 35,723 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
$218.6K $6.12/SF
− Vacancy
−$16.8K −$0.47/SF
EGI
$201.8K $5.65/SF
− OpEx
−$30.3K −$0.85/SF
NOI
$171.5K $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%
$3,430,440
Cap Rate 7%
$2,450,314
Cap Rate 9%
$1,905,800
Alternative Uses
Best Use
Office B
$5.90M
$5.16M – $6.88M
NOI $412,719 @ 7.0% cap · market cap 10.72%
Second Best
Flex RnD
$5.07M
$4.44M – $5.92M
NOI $354,987 @ 7.0% cap · market cap 9.22%
Theoretical Best
Office A
$7.44M
$6.51M – $8.69M
NOI $521,140 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated office space and secured yard areas support industrial, logistics, construction, and fleet operations.
Where is this flex space located?
The property is located at 808 Rhoads Ave 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: 6,170‑square‑foot renovated office wing with 8 hardwall offices, boardroom, bullpen area, and full kitchen; Warehouse includes 17' clear height and 22' x 45' column spacing; Two 12' drive‑in doors plus three dock‑height doors
