Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Historic Office Building Title is generated by Realmo AI

    34 W Gay St, Columbus, OH

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Three-story renovated office building with ground floor retail space.

    Type:OFFICE
    Property size:
    3,005 SF
    Lot size:
    15,570.00 Acres
    Price / SF:
    $765/SF
    Added:
    Dec 20, 2021
    Days on Market:
    1628
    Last Refresh:
    May 20 at 8:09 pm

    Property Features for 34 W Gay St

    General Information

    Standard status
    Active
    Size
    3,005 SF
    Lot size
    15,570.00 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Cory Kooperman
    Cory Kooperman

    Listing agent Cory Kooperman

    Listing office Newmark | Columbus

    Listing date Dec 20, 2021

    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 Newmark | Columbus

    HighLights

    • Completely renovated 3‑story historic building into loft‑style office space.
    • Located on popular Gay Street with walkable access to restaurants and coffee shops.
    • Open environment with exposed brick, wood beams, original hardwood floors, new operable windows and skylights.
    • Private elevator and large open internal stairwell.
    • New roof, new windows, and all new mechanical units.
    • Includes 1800 SF ground floor retail space.

    Overview

    This is a three-story, 15,870-square-foot office building featuring 1,800 square feet of ground floor retail space currently occupied by B Loved Bridal Shop. The historic building has been completely renovated into a loft-style office environment. The open environment features exposed brick, exposed ceilings with wood beams, original hardwood floors, new operable windows, and skylights that capture natural light. A private elevator and large open internal stairwell make it attractive for a single user. The building includes a new roof, new windows, and all new mechanical units. It is situated on Gay Street, near restaurants, coffee shops, and other walkable amenities. The property size is 3,005 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motz Engineering (Columbus ... Engineering Consultant Origo Branding Advertising Agency

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9998
    Latitude
    39.9639

    Nearby Similar for Sale

    • $2,900,000
      30,746 SF

      Temperature-Controlled Flex Building

      Fully renovated, temperature-controlled flex building with heavy power, new sprinkler/roof, and three demised units.
      1025 E 5th Avenue, Columbus, OH 43201
      View Details
    • $700,000
      6,569 SF

      Spacious Four-Unit Property in Columbus

      Four-unit property with renovation potential and modern architectural designs.
      143 S Garfield Ave, Columbus, OH 43205
      View Details
    • $499,000
      3,240 SF

      Two-Story Office Building with Separate Entrances

      Well-maintained, ADA-accessible office building with ample parking and a layout designed for privacy or dual-use flexibility.
      2505 Woodley Road, Columbus, OH 43231
      View Details
    • $1,575,000
      13,200 SF

      High Street Commercial Building

      13,200 SF building on High Street with flexible layout.
      1885-1895 S High St, Columbus, OH 43207
      View Details
    • $165,000

      Fast-Casual Restaurant on Campus

      Fast-casual restaurant operating with dine-in, takeout, and delivery on a North High Street campus area.
      1762 N High Street, Columbus, OH 43201
      View Details
    • $1,100,000
      7,232 SF

      Historic Duplex in Dennison Place

      Rare opportunity: historic duplex near Short North, Downtown, and OSU.
      422-420 W 6th Avenue, Columbus, OH 43201
      View Details
    • Contact for pricing
      6,475 SF

      Commercial Condo Office Buildings

      Modern commercial condo office buildings suitable for various uses.
      3530 Snouffer Road, Columbus, OH 43235
      View Details
    • $1,650,000

      Renovated Multifamily Property in Columbus

      Turnkey 9-unit property with immediate income and upside potential.
      2080-2090 E 5th Avenue, Columbus, OH 43219
      View Details
    • $559,000

      Updated Duplex with Expansion Potential

      Updated Columbus duplex with fenced yard, parking, and expansion potential.
      59-59.5 W Fifth Avenue, Columbus, OH 43201
      View Details
    • $445,000

      All Brick Columbus Multi-Family Property

      Multi-family property with recent updates and long-term tenant.
      4714-4716 Arthur Court, Columbus, OH 43220
      View Details
    • $510,000

      Brick Duplex in Prime Location

      Investment opportunity: brick duplex near Italian Village and Short North.
      1374-1376 Indianola Avenue, Columbus, OH 43201
      View Details
    • $1,750,000
      40,763 SF

      Masonry Office Building with Parking

      A Columbus office building with 220 parking spaces, elevator service, and C-4 zoning, positioned for owner-user or conversion.
      6500-6500 Busch Blvd, Columbus, OH 43229
      View Details

    FAQs

    What type of property is this?
    Office building - Three-story renovated office building with ground floor retail space.
    Where is this office building located?
    The property is located at 34 W Gay St Columbus, OH.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Completely renovated 3‑story historic building into loft‑style office space.; Located on popular Gay Street with walkable access to restaurants and coffee shops.; **Open environment with exposed brick, wood beams, original hardwood floors, new operable windows and skylights.**
    (614) 946-6860 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Cory Kooperman
    Cory Kooperman
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    34 W Gay St, Columbus, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!