Columbus Industrial Building For
For Sale
Contact for pricing
1503-1505 Alum Creek Dr, Columbus, OH 43209
11,600 SF industrial building with recent upgrades.
Property Size11,600 SF
Price / SF$146.12
Days on Market1454
Property Features for 1503-1505 Alum Creek Dr
General Information
Standard status
Active
Size
11,600 SF
Class
C
Property subtype
Industrial
Zoning
M
Occupancy
100%
Lease Type
NNN
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
(614) 581-2434
Source:
Crexi
Added: Sep 13, 2022
Changed: Aug 20
Last Checked: Sep 1 at 9:02PM
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
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 = 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
$55,697
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
3.29%
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%
$1,113,940
$1.1M
Cap Rate 7%
$795,671
$795.7K
Cap Rate 9%
$618,856
$618.9K
Market Conditions
NOI Build-Up for 11,600 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
$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 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%
$1,113,940
Cap Rate 7%
$795,671
Cap Rate 9%
$618,856
Alternative Uses
Best Use
Warehouse
$795.7K
$696.2K – $928.3K
NOI $55,697 @ 7.0% cap · market cap 3.29%
Second Best
Industrial
$655.3K
$573.4K – $764.5K
NOI $45,868 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,225 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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.
