Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31 E 5Th St Columbus, OH 43215

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,400 /Mo ($23 SF/Yr)

    Creative 730 SF office suite in Short North Arts District.

    Property size:
    730 SF
    Lot size:
    0.19 Acres

    Property Features for 31 E 5Th St

    General Information

    Size
    730 SF
    Lot size
    0.19 Acres

    We can help!

    Listing Contact
    J.r. Kern
    Source: Moodyscre

    Listing Agent: J.r. Kern

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Short North Creative Office Suite

    This dynamic, wide-open office suite offers a creative space for business operations in the Short North Arts District. The 730 square foot suite features a wide-open interior with polished concrete floors, exposed wood ceiling and beams, and abundant natural light. It also includes a small kitchenette. The suite is accessed via a private entry from the adjacent parking lot. One reserved parking spot is available for an additional monthly fee. Non-reserved parking is accessible during business hours. The location is near restaurants, distilleries and brewpubs. Shared restrooms are accessed through an interior hallway. The property is located in the Short North Arts District, near theaters, live music venues, galleries, dining, and entertainment options.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Building Supply Clothing Store Daycare Center Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.994672
    Latitude
    39.964011

    Nearby Similar for Lease

    • $9 SF/Yr
      6,528 SF

      Columbus Commercial Space Available

      6,528 SF commercial space with office and warehouse.
      3620 Brandon St, Columbus, OH 43224
      View Details
    • $8,500 /Mo
      9,723 SF

      Kenny Road Office Space Available

      5,420 Sq. Ft. office space for lease in Columbus.
      4588 Kenny Rd, Columbus, OH 43220
      View Details
    • $2,500 /Mo
      3,180 SF

      Renovated Office Space For Lease

      Recently renovated office space with parking near I-71.
      1141 S High St, Columbus, OH 43206
      View Details
    • New
      $119,000
      4,218 SF

      Mixed-Use Building in Columbus, OH

      Mixed-use property available for lease or sale in Columbus.
      994 E Livingston Ave, Columbus, OH 43205
      View Details
    • $4,410 /Mo
      40,560 SF

      Accessible Columbus Office Space

      Convenient office location near Downtown and John Glenn Airport.
      2244 S Hamilton Rd, Columbus, OH 43232
      View Details
    • $18 SF/Yr
      197,520 SF

      Class A Office and Retail

      New office and retail building completed in 2024.
      449 W Broad St, Columbus, OH 43215
      View Details
    • $15 SF/Yr
      21,921 SF

      Penthouse Office Suite in Polaris

      Premium penthouse office suite in the desirable Polaris area.
      9039 Antares Ave, Columbus, OH 43240
      View Details
    • $7,500 /Mo
      5,079 SF

      Versatile Commercial Space in Columbus

      Spacious, updated commercial property suitable for various business ventures.
      85 Phillipi Rd, Columbus, OH 43228
      View Details
    • New
      $16 SF/Yr
      6,900 SF

      Worthington Office Space For Lease

      Office space for lease in Worthington, convenient location.
      5830 N High St, Columbus, OH 43085
      View Details
    • New
      $239,000
      1,397 SF

      Commercial Garage Near Nationwide Children's

      Commercial garage suitable for light industrial and automotive uses.
      616 E Whittier St, Columbus, OH 43206
      View Details
    • $2,300 /Mo
      5,136 SF

      Brewery District Office Space

      Prime office space in Columbus' vibrant Brewery District.
      503 S High St, Columbus, OH 43215
      View Details
    • $23 SF/Yr
      4,830 SF

      Retail Space on Renner Road

      Retail property with high visibility and traffic in Columbus, OH.
      5230 Renner Rd, Columbus, OH 43228
      View Details

    FAQs

    What type of property is this?
    Office space - Creative 730 SF office suite in Short North Arts District.
    Where is this office space located?
    The property is located at 31 E 5Th St Columbus, OH.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: - Prime Short North Arts District location, surrounded by restaurants, distilleries, brewpubs, and cultural attractions.; - Dynamic, wide-open **730 SF office suite with creative space.**; - **Polished concrete floors, exposed wood ceiling and beams, and abundant natural light.**
    (614) 760-5660
    Request Owner's contact information
    31 E 5Th St Columbus, OH 43215
    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.
    31 E 5Th St
    Columbus, OH 43215
    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
    31 E 5Th St Columbus, OH 43215
    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

    We can help!
    Listing Contact
    J.r. Kern
    (614) 760-5660
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.