Standalone Office
For Sale
$389,900
Reynoldsburg, OH 43068, Reynoldsburg, OH 43068
Office, Reynoldsburg, OH
Property Size1,755 SF
Lot Size0.29 Acres
Price / SF$222.17
Days on Market96
Property Features
General Information
Property type
Residential
Property subtype
Office
Zoning description
C-Commercial
Parking
15
Subdivision
H C HUBER PL 38
Standard status
Active
APN
060-002701
Size
1,755 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7873
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1959
Listing Agency:
USA-1 Real Estate Corp.
(740) 927-3400
Listed By:
Earl H Kerns · License #2015005274
(614) 915-7230
Added: Jun 8
Changed: Sep 11
Last Checked: Sep 11 at 12:06PM
MLS# 226020745
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This standalone office building contains 1,755 square feet with a reception and waiting area leading to five separate rooms. The configuration supports professional offices, medical practices, or retail service providers, with spaces adaptable for private offices, exam rooms, conference areas, or service suites. Interior improvements include fresh paint and updated floor coverings, while the roof was completely replaced less than 5 years ago.
The property occupies 0.29 acres at the corner of Brice Road and Roselawn Avenue in Reynoldsburg. Direct Brice Road frontage provides prominent exposure, while vehicle access is available from Roselawn Avenue. The paved lot includes 15 dedicated parking spaces and has been recently coated and striped. The site is less than one mile from the I-70/Brice Road interchange and includes public water service and forced-air heating.
The property occupies 0.29 acres at the corner of Brice Road and Roselawn Avenue in Reynoldsburg. Direct Brice Road frontage provides prominent exposure, while vehicle access is available from Roselawn Avenue. The paved lot includes 15 dedicated parking spaces and has been recently coated and striped. The site is less than one mile from the I-70/Brice Road interchange and includes public water service and forced-air heating.
Key Highlights
- 1,755‑square‑foot standalone office building on 0.29 acres
- Reception and waiting area plus 5 distinct rooms
- 15 dedicated spaces in a newly coated and striped paved lot
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
$21,608
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
5.54%
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%
$432,160
$432.2K
Cap Rate 7%
$308,686
$308.7K
Cap Rate 9%
$240,089
$240.1K
Market Conditions
NOI Build-Up for 1,755 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
$37.9K $21.60/SF
− Vacancy
−$9.1K −$5.18/SF
EGI
$28.8K $16.42/SF
− OpEx
−$7.2K −$4.10/SF
NOI
$21.6K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /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%
$432,160
Cap Rate 7%
$308,686
Cap Rate 9%
$240,089
Alternative Uses
Best Use
Office B
$308.7K
$270.1K – $360.1K
NOI $21,608 @ 7.0% cap · market cap 5.54%
Second Best
Healthcare Medical
$248.1K
$217.1K – $289.5K
NOI $17,369 @ 7.0% cap · market cap 4.45%
Theoretical Best
Specialty Retail
$357.8K
$313.1K – $417.4K
NOI $25,046 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Updated finishes, a flexible five-room layout, and dedicated paved parking support professional or medical office operations.
Where is this office building located?
The property is located at Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 1,755‑square‑foot standalone office building on 0.29 acres; Reception and waiting area plus 5 distinct rooms; 15 dedicated spaces in a newly coated and striped paved lot
