Medical Office and Counseling
For Sale
Contact for pricing
845 West Broad Street, Columbus, OH 43222
Recently renovated office space at 845 West Broad Street includes private offices, conference rooms, and waiting areas.
Property Size5,867 SF
Price / SF$185.61
Days on Market68
Property Features for 845 West Broad Street
General Information
Standard status
Active
Size
5,867 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Listing Agency:
Coldwell Banker Commercial Aspire Realty Services
Listed By:
Bill Davis · License #OH
(614) 341-9800
Source:
Crexi
Added: Jul 2
Changed: Sep 3
Last Checked: Sep 7 at 8:24AM
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 Coldwell Banker Commercial Aspire Realty Services
Investment Insights
Based on property information with market context.
The property at 845 West Broad Street in Columbus includes recently renovated office space configured with a mix of private offices, conference rooms, and open work areas, along with admin/reception and large waiting areas. The building history includes use as a medical building and later as counseling services. Main office building totals 4,607 SF, with a second building totaling 1,260 SF, which could be utilized for office or residential use.
Situated on West Broad Street in Franklinton, the address is described as having immediate access to I-70 and SR-315. The property is also noted as being just over a mile from Downtown Columbus and is located within an opportunity zone.
Offered for sale, the two-building configuration provides separate space for office uses and a flexible second building option.
Situated on West Broad Street in Franklinton, the address is described as having immediate access to I-70 and SR-315. The property is also noted as being just over a mile from Downtown Columbus and is located within an opportunity zone.
Offered for sale, the two-building configuration provides separate space for office uses and a flexible second building option.
Key Highlights
- 5,867 SF of recently renovated office space at 845 W Broad St in Franklinton
- Space layout includes private offices, conference rooms, open work areas, admin/reception, and large waiting areas
- Main office building is 4,607 SF, plus a second building with 1,260 SF
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
$69,953
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
6.42%
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%
$1,399,060
$1.4M
Cap Rate 7%
$999,329
$999.3K
Cap Rate 9%
$777,256
$777.3K
Market Conditions
NOI Build-Up for 5,867 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
$126.7K $21.60/SF
− Vacancy
−$10.1K −$1.73/SF
EGI
$116.6K $19.87/SF
− OpEx
−$46.6K −$7.95/SF
NOI
$70.0K $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%
$1,399,060
Cap Rate 7%
$999,329
Cap Rate 9%
$777,256
Alternative Uses
Best Use
Healthcare Medical
$999.3K
$874.4K – $1.17M
NOI $69,953 @ 7.0% cap · market cap 6.42%
Second Best
Office B
$968.3K
$847.3K – $1.13M
NOI $67,783 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,590 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
Explore this area
Business Placement
Demographics for 43222, OH
4,124
Population
2,311
Households
1.8
Avg Household Size
34
Median Age
16%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
2,946
Density / Sq Mi
$36,440
Median Earnings
$752
Median Rent
$215,900
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 - Recently renovated office space at 845 West Broad Street includes private offices, conference rooms, and waiting areas.
Where is this office building located?
The property is located at 845 West Broad Street Columbus, OH.
What is the asking price?
The asking price for this property is $1,089,000.
What are key features of this property?
This property features: 5,867 SF of recently renovated office space at 845 W Broad St in Franklinton; Space layout includes private offices, conference rooms, open work areas, admin/reception, and large waiting areas; Main office building is 4,607 SF, plus a second building with 1,260 SF
