Historic Brewery District
For Sale
Contact for pricing
955 S High Street, Columbus, OH 43206
Prime corner lot in rapidly developing area, ideal for Airbnb.
Property Size4,269 SF
Price / SF$138.18
Days on Market718
Property Features for 955 S High Street
General Information
Standard status
Active
Size
4,269 SF
Total Parking Spaces
4
Property subtype
Multifamily
Building Details
Year Built
1900
Stories
2
Listing Agency:
e-Merge Real Estate Commercial
Listed By:
Ajay Pandya · License #2005001349
(614) 209-2261
Source:
Crexi
Added: Sep 18, 2024
Changed: Aug 21
Last Checked: Sep 4 at 10:17AM
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 e-Merge Real Estate Commercial
Investment Insights
Based on property information with market context.
Located in the Brewery District on S. High St., this historic building offers visibility on a corner lot. It is situated across from The Columbus Maennerchor and near Schiller Park. The property is positioned in a rapidly developing area of central Ohio. Plans have been submitted for a multi-unit Airbnb. The property is suited for multi-family, mixed-use, or a boutique hotel-style Airbnb. It is a candidate for a state historic tax credit. The property size is 4269 square feet. The location features high traffic. This property is a unique investment opportunity.
Key Highlights
- Prime location in the rapidly developing Brewery District on S. High St.
- High visibility corner lot across from The Columbus Maennerchor and near Schiller Park.
- Opportunity for multi‑family, mixed‑use, or boutique hotel‑style Airbnb development.
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
$29,242
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
4.96%
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%
$584,840
$584.8K
Cap Rate 7%
$417,743
$417.7K
Cap Rate 9%
$324,911
$324.9K
Market Conditions
NOI Build-Up for 4,269 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
$56.9K $13.32/SF
− Vacancy
−$3.7K −$0.87/SF
EGI
$53.2K $12.45/SF
− OpEx
−$23.9K −$5.60/SF
NOI
$29.2K $6.85/SF
Area
Columbus, OH
Vacancy
6.50%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
45.00%
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%
$584,840
Cap Rate 7%
$417,743
Cap Rate 9%
$324,911
Alternative Uses
Best Use
Apartment 5plus
$417.7K
$365.5K – $487.4K
NOI $29,242 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$889.7K
$778.5K – $1.04M
NOI $62,278 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,273
Businesses Nearby
Explore this area
Business Placement
Demographics for 43206, OH
21,594
Population
12,758
Households
1.7
Avg Household Size
35
Median Age
48%
College-Educated
94%
High-School Grad
3.0 sq mi
ZIP Area
7,198
Density / Sq Mi
$74,421
Median Household Income
$52,603
Median Earnings
$1,339
Median Rent
$280,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Prime corner lot in rapidly developing area, ideal for Airbnb.
Where is this multifamily property located?
The property is located at 955 S High Street Columbus, OH.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Prime location in the rapidly developing Brewery District on S. High St.; High visibility corner lot across from The Columbus Maennerchor and near Schiller Park.; Opportunity for multi‑family, mixed‑use, or boutique hotel‑style Airbnb development.
