Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    887-891 22Nd St Columbus, OH 43206

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Turnkey Duplex, 100% Occupancy

    Property Features for 887-891 22Nd St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built/Renovated
    1915/2023
    Units
    2

    We can help!

    Listing Contact
    Jonathan Lorenz

    Listing Agent: Jonathan Lorenz

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

    Learn more

    Overview

    Exceptional investment opportunity awaits with this fully renovated, two-unit brick duplex located at 887-891 S 22nd Street, Columbus, Ohio. Built in 1915 and extensively renovated in 2023, this property boasts a desirable location in the Southern Orchards neighborhood, less than half a mile from Nationwide Children's Hospital. The complete renovation included new mechanical, electrical, plumbing, and HVAC systems, a new roof, and new windows. Each unit offers four bedrooms and three bathrooms, featuring condo-level finishes and exposed brick. Additional amenities include first-floor laundry, a full basement, and off-street parking. Currently, both units are 100% occupied, with leases in place: Unit 887 is leased at $2475 per month through March 31, 2026, and Unit 891 is leased at $2750 per month through July 31, 2025. This property benefits from a 15-year, 100% tax abatement, currently valued at $3,827.28 annually, representing significant cost savings. The 6,534 square foot lot houses this turnkey investment, ideally situated near German Village, Bexley, Olde Towne East, and downtown Columbus. The asking price is $749,900, with a price per square foot of $229.75.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.973388
    Latitude
    39.94666

    Nearby Similar for Sale

    • New
      $81,000
      6,320 SF

      Retail Space in Columbus, OH

      Retail space available for sale in Columbus, Ohio.
      4996 Lindora Dr, Columbus, OH 43232
      View Details
    • $578,000
      3,240 SF

      Minerva Park Office Building

      Two-story office building in Minerva Park with dual-use flexibility.
      2505 Woodley Rd, Columbus, OH 43231
      View Details
    • $3,500,000
      30,746 SF

      Renovated Flex Building in Columbus

      31,656 SF renovated flex building near Downtown Columbus.
      1025 E 5Th Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      0.90 Acres

      Columbus Office Space for Sale

      Office space in remodeled building with exterior entrance.
      50 Old Village Rd, Columbus, OH 43228
      View Details
    • New
      $599,900
      0.24 Acres

      Rare Brick Duplex Investment Property

      Brick duplex in Columbus, Hilliard Schools, near Mill Run.
      3558 Kinsale Head Dr, Columbus, OH 43221
      View Details
    • New
      $399,900
      0.15 Acres

      Grandview Duplex: Investment Opportunity

      Duplex in Grandview with income potential and development possibilities.
      1561 Glenn Ave, Columbus, OH 43212
      View Details
    • New
      $525,000
      0.13 Acres

      Italian Village Duplex with Parking

      Columbus duplex in a prime location with off-street parking.
      779-781 Hamlet St, Columbus, OH 43215
      View Details
    • New
      $350,000
      0.10 Acres

      Renovated Duplex Near Short North

      Fully renovated duplex in prime Columbus location near Short North.
      1440-1442 Hamlet St, Columbus, OH 43201
      View Details
    • New
      $335,000
      Pending

      Turnkey Triplex in Columbus, OH

      Fully updated triplex with three units, vacant at possession.
      173 Brehl Ave, Columbus, OH 43222
      View Details
    • $549,000
      0.15 Acres

      Brick Double Near Goodale Park

      Large duplex with unique design and owner occupant potential.
      244-246 W Hubbard Ave, Columbus, OH 43215
      View Details
    • $359,900
      0.24 Acres

      Columbus Duplex Near Easton, Westerville

      Spacious duplex with modern updates near shopping, dining, and entertainment.
      3292 Betty Ct, Columbus, OH 43231
      View Details
    • $329,900
      0.11 Acres

      Updated Duplex in Franklinton

      Turnkey three-bedroom duplex with modern updates and tax abatement.
      154-156 N Central Ave, Columbus, OH 43222
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Turnkey Duplex, 100% Occupancy
    Where is this multifamily property located?
    The property is located at 887-891 22Nd St Columbus, OH.
    What is the asking price?
    The asking price for this property is $749,900.
    (614) 425-4066 Call to check price and availability
    Request Owner's contact information
    887-891 22Nd St Columbus, OH 43206
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    887-891 22Nd St
    Columbus, OH 43206
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    887-891 22Nd St Columbus, OH 43206
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jonathan Lorenz
    (614) 425-4066
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!