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    Historic Dublin Office Building For Sale Title is generated by Realmo AI

    109 S High, Dublin, OH

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    Meticulously renovated historic building with income-producing carriage house.

    Type:OFFICE
    Lot size:
    0.23 Acres
    Added:
    Mar 1, 2025
    Days on Market:
    461
    Last Refresh:
    May 20 at 8:34 pm

    Property Features for 109 S High

    General Information

    Standard status
    Active
    Lot size
    0.23 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Douglas D. Smith

    Listing agent Douglas D. Smith License #2018005015

    Listing office Westwood Commercial Real Estate

    Listing date Mar 1, 2025

    Source Moodyscre

    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 Westwood Commercial Real Estate

    HighLights

    • Meticulously renovated historic building (built in 1842) in Dublin's Historic District, preserving original character with modern updates.
    • Includes a fully leased, income‑producing Carriage House.
    • Prime location: walking distance to Old Dublin and Bridge Park shops and restaurants.
    • Versatile zoning: suitable for professional office, single‑family home, or Bed & Breakfast.
    • On‑site parking for 14 vehicles, plus abundant street parking.
    • Potential for 50% matching grants (up to $25,000) for exterior and landscape improvements.

    Overview

    This meticulously renovated building, originally constructed in 1842 as the Black Horse Tavern, is located in Dublin’s Historic District. The 2,584-square-foot main building has been renovated, preserving its original character with exposed Black Walnut beams and two restored limestone fireplaces, while updating the building's mechanical systems, infrastructure, and landscaping. A 1,078-square-foot carriage house, built in the 1990s to match the historic character of the main building, is located at the rear of the property and is currently fully leased, generating income. A beautifully landscaped courtyard connects the main building to the Carriage House. The property is within walking distance of Old Dublin (4 min walk) and Bridge Park (16 min walk), offering access to numerous shops and restaurants. The property includes 14 parking spaces on site, with additional street parking available. The current zoning permits conversion to a single-family home or Bed & Breakfast. The location in the Historic District provides 50% matching grant opportunities for up to $25,000 for exterior and landscape improvements through the Commercial Facade Improvement Program. The thoughtfully selected, custom furnishings and art throughout the building can be included in the sale. The ideal use would be a professional office (Attorney, Law Firm or similar).
    Property Profile Location Intelligence

    Current Use by Public Records

    Gerber & Mitchell Law Firm Ferraro Wealth Management Financial Advisor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dublin
    County
    Franklin
    State
    Ohio
    Longitude
    -83.1135
    Latitude
    40.0974

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    FAQs

    What type of property is this?
    Office building - Meticulously renovated historic building with income-producing carriage house.
    Where is this office building located?
    The property is located at 109 S High Dublin, OH.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Meticulously renovated historic building (built in 1842) in Dublin's Historic District, preserving original character with modern updates.; Includes a fully leased, income‑producing Carriage House.; Prime location: walking distance to Old Dublin and Bridge Park shops and restaurants.
    (614) 869-7139 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Douglas D. Smith
    Real Estate License ID: 2018005015
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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