Versatile Retail Space in
156 S Ohio Ave, Columbus, OH 43205
5,624 SF retail space in Old Town East.
Type:Retail, Industrial
Property size:
5,624 SFPrice / SF:
$195/SF- Added:
- Jun 21, 2024
- Days on Market:
- 712
- Last Refresh:
- May 12 at 10:44 pm
Property Features for 156 S Ohio Ave
General Information
- Standard status
- Active
- Size
- 5,624 SF
- Property subtype
- Retail, Industrial
Building Details
- Year Built
- 1946
Listing agent John Mally License #2013004679
Listing office NAI Ohio Equities, LLC
Listing date Jun 21, 2024
Source Crexi
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
HighLights
- Prime corner location in Old Town East, adjacent to the Gemma Apartment building and near Trolley Barn.
- 5,624 SF of versatile retail space suitable for restaurant, grocery, food uses, or mercantile.
- High ceilings and shell condition allow for customized build‑out.
- Zoned CPD, offering flexibility for various business needs.
- Connected to new multi‑family developments, ensuring a strong neighborhood retail presence.
- Located in a thriving neighborhood.
Overview
This commercial property, situated in Old Town East, provides 5,624 square feet of adaptable retail space in a prominent location. It is connected to the new Gemma Apartment building. The space features high ceilings and is designed to accommodate a restaurant, grocery store, food-related business, or mercantile establishment. Zoned CPD and in shell condition, it offers the opportunity for customization to meet specific business requirements. The corner location is surrounded by new multi-family developments and is near the Trolley Barn.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.2k | $18.00 |
| − Vacancy | −$8.6k | −$1.53 |
| EGI | $92.6k | $16.47 |
| − OpEx | −$27.8k | −$4.94 |
| NOI | $64.8k | $11.53 |
5,624 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$926.3K
$810.5K – $1.08M
NOI $64,839 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,045 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Columbus
- County
- Delaware
- State
- Ohio
- Longitude
- -82.9703564
- Latitude
- 39.9622965
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - 5,624 SF retail space in Old Town East.
Where is this retail space located?
The property is located at 156 S Ohio Ave Columbus, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Prime corner location in Old Town East, adjacent to the Gemma Apartment building and near Trolley Barn.; **5,624 SF of versatile retail space** suitable for restaurant, grocery, food uses, or mercantile.; High ceilings and shell condition allow for customized build‑out.
