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    1503-1505 Alum Creek Dr Columbus, OH 43209

    Sponsored
    For Sale
    $1,485,000

    11,712 SF Warehouse, 6.8% Cap Rate

    Property size:
    11,712 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This Columbus, Ohio industrial property offers a compelling investment opportunity. The 11,712 square foot building, situated on a 0.97-acre lot at 1503-1505 Alum Creek Dr (APN 010-237789-00), is currently 100% occupied. The property features a single-story, Class C building constructed in 1967 with permitted M zoning. It boasts two loading docks, a new truck dock and doors, and a new drive-in door, enhancing its functionality. The clear height ranges from 8 to 15 feet, and the building is equipped with three-phase 208/400 amp electrical service. The property is conveniently located with easy access to I-70 and other major transportation routes. The asking price is $1,485,000, representing a 6.80% cap rate. The property is currently under a NNN lease, with Unit 1503 (2,000 sq ft) leased until May 2025, and Unit 1505 (9,600 sq ft) available for an owner-user. This presents a unique opportunity for both investors and owner-occupiers seeking a well-located, improved industrial space in a thriving market. The property is a single-tenant building in Franklin County, Ohio, with a zip code of 43209.

    Property Features for 1503-1505 Alum Creek Dr

    General Information

    Property type
    Distribution properties
    Square Feet
    11,712 SF
    Class
    C
    Lot Size
    42,253 SF

    Building Details

    Year Built
    1967
    Buildings
    1
    Stories
    1

    HighLights

    • $1,485,000 asking price for this 11,712 SF industrial building.
    • Class C, single‑tenant, 100% occupied industrial property with a 6.80% cap rate.
    • Located at 1503‑1505 Alum Creek Dr, Columbus, OH 43209, on a 0.97‑acre lot (APN: 010‑237789‑00).
    • Features include 2 loading docks, 8'-15' ceiling height, and 3‑phase 208/400 amp power.
    • Built in 1967, this one‑story building has recently undergone improvements including new truck dock and doors, and a new drive‑in door.
    • Unit 1505 (9,600 SF) is available for owner‑user occupancy; Unit 1503 (2,000 SF) is leased through May 2025.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.943863179141
    Latitude
    39.940930715432

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    FAQs

    What type of property is this?
    Distribution property - 11,712 SF Warehouse, 6.8% Cap Rate
    Where is this distribution property located?
    The property is located at 1503-1505 Alum Creek Dr Columbus, OH.
    What is the asking price?
    The asking price for this property is $1,485,000.
    What are key features of this property?
    This property features: $1,485,000 asking price for this 11,712 SF industrial building.; Class C, single-tenant, 100% occupied industrial property with a 6.80% cap rate.; Located at 1503-1505 Alum Creek Dr, Columbus, OH 43209, on a 0.97-acre lot (APN: 010-237789-00).
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    Realmo Value Estimation

    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.

    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.

    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
    1503-1505 Alum Creek Dr Columbus, OH 43209
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