Building Details

Year Built 1967

Buildings 1

Stories 1

Tenancy Single

Listing Agency: NAI Ohio Equities, LLC

Listed By: Dan Sheeran Jr · License #OH 2016006190 Show Phone

Source: Crexi

Added: Sep 13, 2022 Changed: Oct 3 Last Checked: Oct 19 at 5:07AM

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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 NAI Ohio Equities, LLC

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Investment Insights

Based on property information with market context.

This industrial building offers approximately 11,600 square feet and is available for sale, presenting options for ownership or tenancy. Units 1505 and 1503 are readily available for an owner-user. Recent enhancements include a new truck dock and doors, along with a drive-in door, enhancing the property's functionality. The building features a clear height range of 8 to 15 feet and Three-Phase 208 | 400 Amps electrical.

Key Highlights

• ±11,600 SF industrial building offering ownership or tenancy.
• Readily available units (1505 and 1503) for owner‑user.
• New truck dock and doors.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,697

Cap Rate

3.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,113,940 $1.1M

Cap Rate 7%

$795,671 $795.7K

Cap Rate 9%

$618,856 $618.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,600 SF

Gross rent

$71.0K $6.12/SF

− Vacancy

−$5.5K −$0.47/SF

EGI

$65.5K $5.65/SF

− OpEx

−$9.8K −$0.85/SF

NOI

$55.7K $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 Rate 5%

$1,113,940

Cap Rate 7%

$795,671

Cap Rate 9%

$618,856

Alternative Uses

Best Use

Warehouse

$795.7K

$696.2K – $928.3K (±1% cap)

NOI $55,697 @ 7.0% cap · market cap 3.29%

Second Best

Industrial

$655.3K

$573.4K – $764.5K (±1% cap)

NOI $45,868 @ 7.0% cap · market cap 2.71%

Theoretical Best

Office A

$2.42M

$2.12M – $2.82M (±1% cap)

NOI $169,225 @ 7.0% cap · market cap 9.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

498

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 43209, OH

27,727

Population

12,689

Households

2.2

Avg Household Size

37

Median Age

57%

College-Educated

96%

High-School Grad

6.1 sq mi

ZIP Area

4,545

Density / Sq Mi

$88,155

Median Household Income

$48,128

Median Earnings

$1,105

Median Rent

$373,500

Median Home Value

Market

Vacancy Rate% for Industrial in Columbus, OH

3.7% 2019

5% 2020

2.1% 2021

3.7% 2022

7.1% 2023

9% 2024

6.1% 2025

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Similar Off Market Nearby

• Hero Homes Storages — 1549 Frebis Ave, Columbus, OH 43206
• Guardian Relocation Moving Company - Altas Van Lines — 1570 Integrity Dr E, Columbus, OH 43209
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Frequently Asked Questions

What type of property is this?

Warehouse - 11,600 SF industrial building with recent upgrades.

Where is this warehouse located?

The property is located at 1503-1505 Alum Creek Dr Columbus, OH.

What is the asking price?

The asking price for this property is $1,695,000.

What are key features of this property?

This property features: ±11,600 SF industrial building offering ownership or tenancy.; Readily available units (1505 and 1503) for owner‑user.; New truck dock and doors.