Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    5 North St Springfield, OH 45504

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5 North St Springfield, OH 45504

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Huntington Bank / Bank / Loan Service
    • Huntington Bank ATM (Drive-Up) / Atm

    Property Details for 5 North St

    Property type
    Office properties & Spaces

    Description

    This exceptional multi-tenant office building is situated in the vibrant heart of downtown Springfield, Ohio. Located at 5 W North St, zip code 45504, this property offers a substantial 6,000 square feet of traditional office space, currently with one suite available. The building is conveniently located within the Dayton submarket of Clark County, providing easy access to major transportation routes and amenities. The available space is situated on the second floor, offering a desirable and potentially quieter work environment. Ample parking is available for tenants and their clients, a significant advantage in a bustling downtown area. The building's multi-tenant structure provides a diverse and dynamic atmosphere, fostering a sense of community among businesses. This is an excellent opportunity for a business seeking a prominent location in a thriving downtown setting. The property is classified as a traditional office space, ideal for a variety of professional uses. Its central location in Springfield, Ohio, offers unparalleled access to the city's resources and a strong local workforce. This space presents a unique chance to establish or expand your business in a highly visible and accessible location. Serious inquiries are encouraged to explore this exceptional opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8104
    Latitude
    39.9268

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      414-416 Main St

      OFFICE (GENERAL) • 0.23 Acres
      414-416 Main St, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.22 Acres

      410-412 Main St

      OFFICE (GENERAL) • 0.22 Acres
      410-412 Main St, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.07 Acres

      Albemarle Rd

      OFFICE (GENERAL) • 0.07 Acres
      Albemarle Rd, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.08 Acres

      1108 Bechtle Ave

      OFFICE (GENERAL) • 0.08 Acres
      1108 Bechtle Ave, Springfield, OH 45504-2010
      View Details
    • Value Estimation by Request
      0.08 Acres

      900 Bechtle Ave

      OFFICE (GENERAL) • 0.08 Acres
      900 Bechtle Ave, Springfield, OH 45504-2082
      View Details
    • Value Estimation by Request
      1,780 SF

      437 Harding Rd

      OFFICE (GENERAL) • 1,780 SF
      437 Harding Rd, Springfield, OH 45504-1744
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,953 SF

      Retail/Office Building Investment Opportunity

      Retail/office building in Springfield, OH, with high traffic and potential.
      1110 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      45,000 SF

      Restored School Building on 8 Acres

      Two buildings totaling 45,000 SF on 8 acres near Springfield.
      3500 W National Rd, Springfield, OH 45504
      View Details
    • $189,000
      6.50 Acres

      Residential Land in Springfield Township

      6.5 acres to build your dream home.
      925 Upper Valley Pike, Springfield, OH 45504
      View Details
    • Contact for pricing
      Pending

      Manufacturing Property with Park Views

      6,888 SF manufacturing building overlooking Snyder Park and Buck Creek.
      714 Rubsam St, Springfield, OH 45504
      View Details
    • $139,000
      7.00 Acres

      Secluded 7-Acre Building Tract

      Private, wooded 7-acre build site with character and potential.
      4004 Sintz Rd, Springfield, OH 45504
      View Details
    • Contact for pricing

      Undeveloped Land with Utilities Available

      Nearly 8 acres of land with utilities available.
      Upper Valley Pike, Springfield, OH 45504
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Springfield Multi-Tenant Office

      Second floor office space available in downtown Springfield.
      5 W North St, Springfield, OH 45504
      View Details
    • Contact for pricing
      6,000 SF

      Springfield Office Space For Rent

      6,000 sqft office space available for lease.
      5 West North St, Springfield, OH 45504
      View Details
    • Contact for pricing
      30,720 SF

      Warehouse Space with HVAC

      Remaining 396,314 SF warehouse space with full HVAC.
      1475 Upper Valley Pike, Springfield, OH 45504
      View Details
    • $22 SF/Yr
      1,440 SF

      Retail Space Available For Lease

      Retail space available for lease in Springfield, OH.
      1985-2075 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      10,426 SF

      Springfield Commons Outparcel Retail Opportunity

      Retail strip center with value-add opportunity in Springfield, Ohio.
      1501 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      2016 N Bechtle St, Springfield, OH 45504
      View Details
    Request Owner's contact information
    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.
    5 North St
    Springfield, OH 45504
    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
    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

    Thank You for Inquiry

    5 North St, Springfield, OH, 45504

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!