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    Columbus Industrial/Flex Building For Sale Title is generated by Realmo AI

    700 Taylor Avenue, Columbus, OH 43219

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    For Sale
    $950,000

    Stand-alone industrial/flex building with new lease near downtown Columbus.

    Type:Industrial / Business
    Property size:
    7,020 SF
    Lot size:
    0.61 Acres
    Price / SF:
    $135/SF
    Added:
    Apr 18, 2025
    Days on Market:
    408
    Last Refresh:
    May 21 at 9:53 am

    Property Features for 700 Taylor Avenue

    General Information

    Standard status
    Active
    Size
    7,020 SF
    Lot size
    0.61 Acres
    Property subtype
    Industrial / Business

    Building Details

    Year Built
    2000

    We can help!

    Listing Contact
    Ashley Simonton
    Ashley Simonton

    Listing agent Ashley Simonton License #2019006714

    Listing office Hanna Commercial, LLC

    Listing date Apr 18, 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 Hanna Commercial, LLC

    HighLights

    • New 5‑year lease with a 5‑year option, ideal for a 1031 exchange buyer
    • 7,020 sq ft stand‑alone industrial/flex building near downtown Columbus
    • Excellent location less than a mile from I‑670 and Leonard Ave on/off ramps
    • Includes 3,930 sq ft of office space (7 offices, conference room, open workspace, kitchenette) and 3,090 sq ft of warehouse space
    • Features ample parking and a 10' x 10' drive‑in door
    • 13' clear height in the warehouse

    Overview

    This stand-alone industrial/flex building is located just east of downtown Columbus. The property offers 7,020 square feet of space, including 3,930 square feet of office space and 3,090 square feet of warehouse space. Situated on 0.61 acres, the property features ample parking and a 10' x 10' drive-in door. The warehouse has a 13' clear height. The office area includes seven offices (one executive, one oversized, five standard), a large conference room, open workspace, kitchenette, and multiple storage areas. There are four restrooms (office and warehouse). The building is less than a mile from I-670 and Leonard Ave on/off ramps. A new 5 year lease with 5 year option was just signed in March, making this an investment opportunity.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $139.0k $19.80
    − Vacancy −$30.9k −$4.40
    EGI $108.1k $15.40
    − OpEx −$27.0k −$3.85
    NOI $81.1k $11.55
    7,020 SF · lease $19.80/SF/yr · vacancy 22.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.16M
    $1.01M – $1.35M (±1% cap)
    NOI $81,104 @ 7.0% cap · market cap 8.54%
    Second Best
    Flex RnD
    $996.6K
    $872.0K – $1.16M (±1% cap)
    NOI $69,759 @ 7.0% cap · market cap 7.34%
    Theoretical Best
    Office A
    $1.46M
    $1.28M – $1.71M (±1% cap)
    NOI $102,410 @ 7.0% cap · market cap 10.78%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Spectrum Lighting Inc (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Similar Places Nearby

    • Harry's Grill Station — 737 Parkwood Ave, Columbus, OH 43219
    • 5th Avenue Fresh LLC — 737 Parkwood Ave, Columbus, OH 43219
    • FEED THE NEED — 738 Parkwood Ave, Columbus, OH 43219
    • Natural Gourmet Foods — 737 Parkwood Ave, Columbus, OH 43219
    • Chef Capaldi — 737 Parkwood Ave, Columbus, OH 43219

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9602464
    Latitude
    39.9813279

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    FAQs

    What type of property is this?
    Flex space - Stand-alone industrial/flex building with new lease near downtown Columbus.
    Where is this flex space located?
    The property is located at 700 Taylor Avenue Columbus, OH.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: New 5‑year lease with a 5‑year option, ideal for a 1031 exchange buyer; 7,020 sq ft stand‑alone industrial/flex building near downtown Columbus; Excellent location less than a mile from I‑670 and Leonard Ave on/off ramps
    (614) 354-7185
    We can help!
    Listing Contact
    Ashley Simonton
    Ashley Simonton
    Real Estate License ID: 2019006714
    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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