Mixed-Use Redevelopment with
For Sale
Contact for pricing
982 S Front St, Columbus, OH 43207
Adaptive reuse warehouse offering new office space, six loft residences, and dedicated off-street parking with a shared rooftop terrace.
Property Size13,086 SF
Price / SF$167.74
Days on Market54
Property Features for 982 S Front St
General Information
Standard status
Active
Size
13,086 SF
Total Parking Spaces
15
Property subtype
Multifamily, Office, Mixed Use
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$154,907
Additional Details
Highway Access
Yes
Multifamily Units
6
Building Details
Year Built
1917
Year Renovated
2012
Stories
3
Units
6
Tenancy
Single
Listing Agency:
Allied Real Estate Advisors
(614) 436-9800
Listed By:
Ryan McHugh · License #OH
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 8 at 2:28PM
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 Allied Real Estate Advisors
Investment Insights
Based on property information with market context.
The Jack is a distinctive mixed-use redevelopment within a renovated 1917 warehouse, originally associated with the Columbus Jack Corporation. The property provides 4,500 square feet of newly added office space along with six loft-style residential units. Interiors retain original warehouse character elements such as exposed brick, timber framing, polished concrete floors, and oversized windows, while updates include open, flexible layouts and high-quality finishes. Residential features include hardwood floors, track lighting, custom hardware, premium plumbing fixtures, and stainless steel appliances, supported by dedicated off-street parking for each unit. A shared rooftop terrace adds an additional common outdoor area.
Located in Columbus’s Brewery District, The Jack sits adjacent to the multi-million dollar “Brewer’s Gate” redevelopment. The area supports walkable access to local dining and coffee, and the property also provides convenient highway access via I-71 at Greenlawn Avenue.
This configuration supports owner-users or investors seeking a live-work style asset that combines workplace space with six loft residences in a single, adaptive reuse building. Designed by WSA Studio and renovated in 2012, the project has earned AIA Ohio Honor Award for Design recognition as well as the Columbus Landmarks Recchie Award for its adaptive reuse and architectural character.
Located in Columbus’s Brewery District, The Jack sits adjacent to the multi-million dollar “Brewer’s Gate” redevelopment. The area supports walkable access to local dining and coffee, and the property also provides convenient highway access via I-71 at Greenlawn Avenue.
This configuration supports owner-users or investors seeking a live-work style asset that combines workplace space with six loft residences in a single, adaptive reuse building. Designed by WSA Studio and renovated in 2012, the project has earned AIA Ohio Honor Award for Design recognition as well as the Columbus Landmarks Recchie Award for its adaptive reuse and architectural character.
Key Highlights
- Adaptive reuse 1917 warehouse with 4,500 SF new office space and six loft‑style residential units.
- Fully renovated in 2012 and designed by WSA Studio, an architecture firm with AIA Ohio Honor Award and Columbus Landmarks Recchie Award recognition.
- Residential features include open, flexible floor plans with hardwood floors, track lighting, custom hardware, premium plumbing fixtures, and stainless steel appliances.
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
$146,794
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
6.69%
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%
$2,935,880
$2.9M
Cap Rate 7%
$2,097,057
$2.1M
Cap Rate 9%
$1,631,044
$1.6M
Market Conditions
NOI Build-Up for 13,086 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
$257.5K $19.68/SF
− Vacancy
−$61.8K −$4.72/SF
EGI
$195.7K $14.96/SF
− OpEx
−$48.9K −$3.74/SF
NOI
$146.8K $11.22/SF
Area
ZIP 43207
Vacancy
24.00%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
25.00%
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%
$2,935,880
Cap Rate 7%
$2,097,057
Cap Rate 9%
$1,631,044
Alternative Uses
Best Use
Office B
$2.10M
$1.83M – $2.45M
NOI $146,794 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,226 @ 7.0% cap · market cap 6.16%
Theoretical Best
Warehouse
$2.64M
$2.31M – $3.08M
NOI $184,626 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
Explore this area
Business Placement
Demographics for 43207, OH
46,853
Population
21,242
Households
2.2
Avg Household Size
38
Median Age
16%
College-Educated
85%
High-School Grad
23.1 sq mi
ZIP Area
2,028
Density / Sq Mi
$61,307
Median Household Income
$40,037
Median Earnings
$1,115
Median Rent
$156,200
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Adaptive reuse warehouse offering new office space, six loft residences, and dedicated off-street parking with a shared rooftop terrace.
Where is this apartment building located?
The property is located at 982 S Front St Columbus, OH.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Adaptive reuse 1917 warehouse with 4,500 SF new office space and six loft‑style residential units.; Fully renovated in 2012 and designed by WSA Studio, an architecture firm with AIA Ohio Honor Award and Columbus Landmarks Recchie Award recognition.; Residential features include open, flexible floor plans with hardwood floors, track lighting, custom hardware, premium plumbing fixtures, and stainless steel appliances.
