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    Newly Renovated Single-Story Office Title is generated by Realmo AI

    1251 West Broad Street, Columbus, OH 43222

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    For Sale
    $335,000

    Renovated office building with mostly private offices, kitchen, three bathrooms, and convenient on-site parking.

    Type:Office / Office
    Property size:
    3,280 SF
    Price / SF:
    $102/SF
    Added:
    Oct 5, 2025
    Days on Market:
    245
    Last Refresh:
    Jun 6 at 4:39 am

    Property Features for 1251 West Broad Street

    General Information

    Standard status
    Active
    Size
    3,280 SF
    Property subtype
    Office / Office

    Building Details

    Year Built
    1935

    We can help!

    Listing Contact
    James M Mangas
    James M Mangas

    Listing agent James M Mangas License #2002005957

    Listing office Best Corporate Real Estate

    Listing date Oct 5, 2025

    Source Compass

    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 Best Corporate Real Estate

    HighLights

    • Recently renovated single‑story office building on W Broad Street in Franklinton
    • ±3,280 SF office with mostly private offices, kitchen, and three bathrooms
    • 7 short‑term tenants in place paying $3,005/month total
    • 4 on‑site parking spaces plus street parking available
    • Frontage on W Broad Street with easy access to on/off ramps for I‑70 and State Route 315
    • Adjacent lot can be purchased with the property for $50,000

    Overview

    This newly renovated single-story office building is approximately 3,280 square feet and configured mostly with private offices. The space includes a kitchen and three bathrooms, supporting a range of professional office uses. The building is offered with four on-site parking spaces, with additional street parking available.

    Located in Franklinton on W Broad Street, the property features frontage on W Broad Street and provides easy access to on- and off-ramps for I-70 and State Route 315. It is also described as being close to downtown Columbus, providing practical connectivity for staff and clients.

    The property is currently set up with a mix of short-term tenants in place, and the listing notes seven short-term tenants paying $3,005 per month. An adjacent lot may also be purchased with the property for $50,000, which may offer additional flexibility for the right buyer or operator. Contact for details on the tenant situation and purchase terms.
    Location Intelligence

    Current Use by Public Records

    The Buddie System Janitorial ... General Contractor Nailprimo Hair Salon O'Brien Karen M Foster Care Service Alpha Recovery Center Medical Clinic Elizabeth Hoover Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0339271
    Latitude
    39.9580443

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    FAQs

    What type of property is this?
    Office building - Renovated office building with mostly private offices, kitchen, three bathrooms, and convenient on-site parking.
    Where is this office building located?
    The property is located at 1251 West Broad Street Columbus, OH.
    What is the asking price?
    The asking price for this property is $335,000.
    What are key features of this property?
    This property features: Recently renovated single‑story office building on W Broad Street in Franklinton; ±3,280 SF office with mostly private offices, kitchen, and three bathrooms; 7 short‑term tenants in place paying $3,005/month total
    (614) 570-9488
    We can help!
    Listing Contact
    James M Mangas
    James M Mangas
    Real Estate License ID: 2002005957
    Learn More
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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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