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    388 Morrison Rd Columbus, OH 43213

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    For Lease
    Contact for pricing

    Columbus flex warehouse space available.

    Lot size:
    31,200 SF

    Property Features for 388 Morrison Rd

    General Information

    Property type
    Distribution centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    31,200 SF
    Class
    B
    Total Rate
    31200

    Building Details

    Year Built
    1985
    Buildings
    2
    Stories
    1

    Spaces For Lease

    at 388 Morrison Rd, Columbus, OH 43213 Contact us
    Unit 388 Morrison

    $12 /Mo

    Size
    1,800 SF
    Contact us
    Unit 416 Morrison

    $13 /Mo

    Size
    1,800 SF
    Contact us

    We can help!

    Listing Contact
    Eric Goldberg
    Eric Goldberg

    Listing Agency: Oxford Realty Advisors Listing Agent: Eric Goldberg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This Columbus, Ohio industrial property, located at 388 Morrison Road, zip code 43213, offers a prime opportunity for businesses seeking flexible warehouse or distribution space. The property consists of two single-story buildings totaling 31,200 square feet, built in 1985 and classified as Class B. Currently, there are 2,400 square feet of vacant space available, divisible into units ranging from 1,800 to 4,800 contiguous square feet. The property features a total of 16 suites, 8 dock-high doors, and 16 drive-in doors, providing ample loading and unloading capabilities. Ceiling heights range from 12 to 14 feet. The 3.08-acre lot provides 90 total parking spaces. The property is zoned for commercial warehouse use and boasts excellent visibility from Morrison Road and I-270, with Morrison Road experiencing over 8,000 vehicles per day and I-270 seeing over 125,000 vehicles per day. The property's APN is 010-208204. This multi-tenant building presents a versatile solution for various industrial needs. Each unit includes a 10' x 10' drive-in door, and many units also feature a dock door at the rear.
    Property Profile Location Intelligence

    Current Use by Public Records

    Enhanced Appearl Production Facility Exterior 1 columbus Hardware & Home Improvement Exterior One - Windows ... Hardware & Home Improvement BIG Construction Roofing Company Buckeye Custom Van ... General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.856015571656
    Latitude
    39.986202869141

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    FAQs

    What type of property is this?
    Distribution center - Columbus flex warehouse space available.
    Where is this distribution center located?
    The property is located at 388 Morrison Rd Columbus, OH.
    What is the lease rate?
    The lease rate is $12-$13 SF/Yr.
    What are key features of this property?
    This property features: 31,200 SF Class B industrial property in Columbus, OH (43213).; Two single-story buildings with 2,400 SF of divisible vacant space (1,800-4,800 SF units).; 16 suites, 8 dock-high doors, and 16 drive-in doors.
    (301) 983-8000 Call to check price and availability
    Request Owner's contact information
    388 Morrison Rd Columbus, OH 43213
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    Columbus, OH 43213
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    388 Morrison Rd Columbus, OH 43213
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    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Goldberg
    Eric Goldberg
    Real Estate License ID: 599795
    (301) 983-8000 (240) 426-1144
    Learn more
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