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31838424
31838425

2 Locations

MA
OH OH 2017005862
Red 1 Realty
Listed by Red 1 Realty
$1,500,000
53 days on market
Updated 52 days ago

Lockbourne Road

Details
Property Type Multifamily, Mixed Use (+1)
Sub Type Commercial, Residential
Square Footage 4,772
Units 5
Cap Rate 2.4%
NOI $36,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 5
Lease Expiration 10/01/2030
Remaining Term 4.3
Rent Bumps Yes
Lease Options Yes
Price per SqFt $314
Class C
Year Built 1962
Year Renovated 2026
Buildings 1
Acreage 4.000
Zoning C
Parking Spaces 5 spaces
Parking Per SqFt 1.05
Investment Type Redevelopment
Lease Commencement 10/01/2025
Ground Lease No

Development Opportunity | South Side of Columbus, Ohio

Marketing description

Development Opportunity – 0 Lockbourne Rd, Columbus, OH 43207

Positioned in one of the fastest-evolving corridors on the south side of Columbus, this ±4-acre development site offers a rare opportunity to deliver a high-density residential project in a location primed for growth.

Ideal for approximately 150–200 multi-family units or condominium development, the site supports a modern, efficient layout with integrated lower-level or tuck-under garage parking, maximizing density while maintaining strong design appeal.

Strategically located along Lockbourne Road, the property benefits from direct access to major transit routes and COTA bus lines, providing seamless connectivity to Downtown Columbus, employment hubs, and key lifestyle amenities.

This site falls within an area supported by city-backed development incentives, making it especially attractive for developers seeking tax advantages, revitalization programs, and long-term upside.

An additional value-add includes a separate commercial building (not included in the 4 acres) currently leased to a church at $3,000/month NNN, providing stable supplemental income or future repositioning potential.

Surrounded by ongoing development, improving infrastructure, and increasing demand for workforce and market-rate housing, this is a high-potential infill opportunity in a rapidly transforming submarket.

Investment highlights

  • This site supports a range of residential development strategies:
  • Multifamily apartments
  • Condominium development
  • Workforce or market-rate housing
  • Concept Plan:
  • 150–200 units
  • 3–5 story buildings
  • Integrated garage parking (tuck-under design)
  • Central green space and pedestrian-friendly layout

Listing Contacts

MA
OH OH 2017005862
Red 1 Realty
Listed by Red 1 Realty

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$36,000.00
$3,000.00/mo

Valuation Metrics

0
DSCR
2.4%
Cap Rate
2.4%
ROI

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Additional Information

Name
Messiva Amer-Yahia
License
OH 2017005862
Brokerage
Red 1 Realty
Brokerage Phone
740-972-8967
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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