Multi-Unit Retail Space Near
For Sale
Contact for pricing
1001 Mount Vernon Avenue, Columbus, OH 43203
Retail space minutes from downtown Columbus with highway access.
Property Size2,360 SF
Price / SF$233.05
Days on Market1158
Property Features for 1001 Mount Vernon Avenue
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Mixed Use
Building Details
Year Built
1921
Listing Agency:
Anchor Real Estate Group
(614) 338-8701
Listed By:
Denise Pace · License #444298
Source:
Crexi
Added: Jun 24, 2023
Changed: Aug 22
Last Checked: Aug 23 at 1:05PM
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 Anchor Real Estate Group
Investment Insights
Based on property information with market context.
This multi-unit retail space presents a significant opportunity. The property is located minutes from downtown Columbus, Ohio, and offers quick access to I-670, I-71, and I-70. The property size is 2360 square feet.
Key Highlights
- Multi‑unit retail space
- Minutes from downtown Columbus
- Quick access to I‑670
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
$27,081
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
4.92%
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%
$541,620
$541.6K
Cap Rate 7%
$386,871
$386.9K
Cap Rate 9%
$300,900
$300.9K
Market Conditions
NOI Build-Up for 2,360 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
$48.1K $20.40/SF
− Vacancy
−$4.8K −$2.04/SF
EGI
$43.3K $18.36/SF
− OpEx
−$16.2K −$6.89/SF
NOI
$27.1K $11.48/SF
Area
Columbus, OH
Vacancy
10.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$541,620
Cap Rate 7%
$386,871
Cap Rate 9%
$300,900
Alternative Uses
Best Use
Mixed Use
$386.9K
$338.5K – $451.4K
NOI $27,081 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$491.8K
$430.4K – $573.8K
NOI $34,429 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 43203, OH
8,726
Population
5,301
Households
1.6
Avg Household Size
32
Median Age
30%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
6,233
Density / Sq Mi
$44,099
Median Household Income
$36,918
Median Earnings
$930
Median Rent
$282,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space minutes from downtown Columbus with highway access.
Where is this mixed-use property located?
The property is located at 1001 Mount Vernon Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Multi‑unit retail space; Minutes from downtown Columbus; Quick access to I‑670
