548 W State Street, Columbus, OH 43215

$4,200,000
Property Type: Commercial Square Footage: 10,176 Lot Size (sq. ft.): 4,792 Status: Active
Current Price: $4,200,000 List Date: 11/06/2025 Last Modified: 11/07/2025

Description

Exceptional Investment Opportunity in Franklinton! Built in 2019, this modern 12-unit apartment building plus 1 commercial space offers an outstanding turnkey opportunity in one of Columbus's fastest-growing neighborhoods. The property features twelve 1-bedroom, 1-bath units with tenant-paid utilities and strong occupancy — currently 100%. Designed for low-maintenance ownership, the building provides solid cash flow with significant upside as rents are currently under market. Located at 548 W State Street, it provides direct access to the heart of Franklinton's vibrant arts district and all that downtown Columbus has to offer and major downtown employers. With continued neighborhood revitalization, new development, and rising rental demand, this property is ideally positioned for long-term appreciation and income growth. Whether you're an experienced investor seeking a stabilized asset with value-add potential or expanding your Columbus portfolio, 548 W State presents a rare opportunity to own a newer-construction multifamily property in a premier urban location.

Supplements: ********

More Information MLS# 225042224

Location & Property Info

List Price/SqFt: 412.74 City (Mailing Addr): Columbus Corp LimitPerAuditor: Columbus

Office/Contract Info

For Sale: Yes Exchange: No For Lease: No Lease Rate $/Sq Ft: 0

General Property Info

Total SqFt Available: 10176 Bldg Sq Ft: 10176 Max Cont Sqft Avail: 10176 Minimum Sqft Avail: 10176 # of Docks: 0 Lot Size (Side): 76 # of Floors Above Gr: 3 Year Built: 2019 Acreage: 0.11

Tax Info

Tax Abatement: Yes Abatement End Date: 2033-12-31 Taxes (Yrly): 17029 Parcel #: 010-010589 Tax Year: 2024

Remarks & Misc

Property Description: Exceptional Investment Opportunity in Franklinton! Built in 2019, this modern 12-unit apartment building plus 1 commercial space offers an outstanding turnkey opportunity in one of Columbus's fastest-growing neighborhoods. The property features twelve 1-bedroom, 1-bath units with tenant-paid utilities and strong occupancy — currently 100%. Designed for low-maintenance ownership, the building provides solid cash flow with significant upside as rents are currently under market. Located at 548 W State Street, it provides direct access to the heart of Franklinton's vibrant arts district and all that downtown Columbus has to offer and major downtown employers. With continued neighborhood revitalization, new development, and rising rental demand, this property is ideally positioned for long-term appreciation and income growth. Whether you're an experienced investor seeking a stabilized asset with value-add potential or expanding your Columbus portfolio, 548 W State presents a rare opportunity to own a newer-construction multifamily property in a premier urban location.

Income/Expenses

Gross Income: 0 Net Operating Income: 0 Total Expenses: 0

Addl Acceptance Cond

None Known: 1

T Reimburses L

Curr Yr Est $/SF TRL: 0

Auction Info

Auction/Online Bidding Y/N: No

MLS Primary PhotoSrc

Realtor Provided: 1

Location Property Info

Original List Price: 4200000 List Price: $4,200,000 Property Sub Type: Mixed Use Street #: 548 Street PreDirection: W Street Name: State Street Suffix: Street County: Franklin State: OH Zip Code: 43215 Township: None

OfficeContract Info

Status: Active MLS Entry Date: 2025-10-31

Property Features

Addl Acceptance Cond: None Known MLS Primary PhotoSrc: Realtor Provided
Listing Office: The Columbus Agents
Listing Agent: James E Richardson
Last Updated: November - 07 - 2025
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