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    Columbus Office Space For Lease Title is generated by Realmo AI

    475 E Mound St, Columbus, OH 43215

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    Office space available near downtown Columbus, close to major landmarks.

    Type:OFFICE
    Property size:
    9,265 SF
    Added:
    May 8, 2026
    Days on Market:
    25
    Last Refresh:
    May 21 at 7:16 am

    Property Features for 475 E Mound St

    General Information

    Standard status
    Active
    Size
    9,265 SF
    Property subtype
    OFFICE

    Spaces For Lease

    at 475 E Mound St Contact us

    We can help!

    Listing Contact
    Shad Phipps, SIOR, CCIM
    Shad Phipps, SIOR, CCIM

    Listing agent Shad Phipps, SIOR, CCIM License #SAL.0000443123

    Listing office Phipps Realty Advisors

    Listing date May 8, 2026

    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 Phipps Realty Advisors

    HighLights

    • High‑visibility location on E Mound St with direct I‑70 access and 9,292 AADT (2025).
    • Ample parking with a ratio of 3.28/1000.
    • Signage opportunities include monument, building, and awning options.
    • ADA accessible with elevator in both buildings.
    • Suitable for single or multi‑tenant use.
    • Close proximity to Nationwide Children’s Hospital, Courthouse, Grant Hospital, and Franklin University.

    Overview

    Located on E Mound St, this property benefits from a high traffic location with 9,292 AADT (2025) due to the new westbound I-70 entrance to downtown. The property is conveniently situated near Nationwide Children’s Hospital, the Courthouse, Grant Hospital, and Franklin University. It offers single or multi-tenant building options with ADA accessibility and elevator access in both buildings. The location is also on the COTA bus line. The property features a reception area and private offices, making it suitable for medical or professional office use. Signage opportunities are available on the monument, building, and awning. On-site parking is provided at a ratio of 3.28 per 1000 square feet. Tenants are responsible for covering the costs of electric, gas, janitorial services, water, and sewer.
    Location Intelligence

    Current Use by Public Records

    Economic & Community Development Community Center

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Law Firm Nail Salon

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

    Similar Places Nearby

    • Care Pet Clinic — 785 E Main St, Columbus, OH 43205
    • The Veterinary Relief Company — 341 S 3rd St suite 100-282, Columbus, OH 43215
    • MedVet — columbus, oh 43215

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9863473
    Latitude
    39.9560742

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    FAQs

    What type of property is this?
    Medical Office Space - Office space available near downtown Columbus, close to major landmarks.
    Where is this medical office space located?
    The property is located at 475 E Mound St Columbus, OH.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: High‑visibility location on E Mound St with direct I‑70 access and 9,292 AADT (2025).; Ample parking with a ratio of 3.28/1000.; Signage opportunities include monument, building, and awning options.
    (614) 570-4221 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Shad Phipps, SIOR, CCIM
    Shad Phipps, SIOR, CCIM
    Real Estate License ID: SAL.0000443123
    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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