Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5057 Freeway Dr Columbus, OH 43229

    • Warehouses
    • 253,702 SF
    • 14.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • IRON Mountain / Warehouse & Storage

    Property Details for 5057 Freeway Dr

    Year built
    1969
    Lot size
    14.93 lot acres
    Property size
    253,702 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 253,702-square-foot industrial warehouse, situated on 14.93 acres in Franklin County, presents a significant leasing opportunity. Built in 1969 and renovated in 1999, the single-building property boasts 76,320 square feet of immediately available space, perfect for a variety of industrial uses. The warehouse features 23 dock-high doors and 8 drive-in doors, ensuring efficient loading and unloading. With a ceiling height of 24 inches, the space offers ample vertical clearance. Ample parking is provided with 164 total spaces. The property is currently multi-tenant, offering flexibility for businesses of various sizes. The 76,320 square feet of vacant space will be available for occupancy in April 2024. The lease rate is net, net, net (NNN), and specific pricing is available upon request. This property represents a rare opportunity to secure a substantial warehouse space in a desirable Franklin County location. Inquire today to learn more about this exceptional industrial property and its potential to meet your business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9959
    Latitude
    40.0687

    Comparable in this City

    • Value Estimation by Request

      1030 Freeway Dr

      Distribution properties
      1030 Freeway Dr, Columbus, OH 43229
      View Details
    • Value Estimation
      $5,815,000
      216,160 SF

      6150 Huntley Rd

      DISTRIBUTION WAREHOUSE • 216,160 SF
      6150 Huntley Rd, Columbus, OH 43229-1000
      View Details
    • Value Estimation by Request
      4.91 Acres

      Huntley Rd

      DISTRIBUTION WAREHOUSE • 4.91 Acres
      Huntley Rd, Columbus, OH 43229
      View Details
    • Value Estimation by Request
      1.70 Acres

      Dublin Granville Rd

      MINI-WAREHOUSE, STORAGE • 1.70 Acres
      Dublin Granville Rd, Columbus, OH 43229
      View Details
    • Value Estimation
      $1,870,000
      53,560 SF

      6500 Huntley Rd

      WAREHOUSE, STORAGE • 53,560 SF
      6500 Huntley Rd, Columbus, OH 43229-1012
      View Details
    • Value Estimation
      $815,000
      24,558 SF

      7057 Huntley Rd, Unit 7067

      WAREHOUSE, STORAGE • 24,558 SF
      7057 Huntley Rd, Columbus, OH 43229-1021
      View Details

    Similar Nearby for Sale

    • $1,825,000
      17,342 SF

      Worthington Flex Building Opportunity

      Flex building in Worthington with office and warehouse space.
      1021 Checkrein Ave, Columbus, OH 43229
      View Details
    • $1,825,000
      17,342 SF

      Worthington Flex Building Opportunity

      17,342 SF flex building with office and warehouse space.
      1021 Checkrein Ave, Columbus, OH 43229
      View Details
    • $2,600,000
      21,028 SF

      Industrial Building with Office Space

      21,028 SF industrial building with 5,000 SF of office space.
      6661 Huntley Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      28,730 SF

      Small Flex Unit Available

      1,250 SF flex unit ideal for contractors with easy access.
      6400 Huntley Rd, Columbus, OH 43229
      View Details
    • $2,600,000
      21,028 SF

      Worthington Industrial Building For Sale

      21,028 SF industrial building with office and warehouse space.
      6661 Huntley Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      28,730 SF

      Flex Unit on Huntley Road

      2,500 SF flex unit ideal for contractors, great location.
      6400 Huntley Rd, Columbus, OH 43229
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      28,875 SF

      Industrial Space with Truck Parking

      Industrial space with outside storage and convenient highway access.
      6575 Huntley Rd, Columbus, OH 43229
      View Details
    • $8 SF/Yr
      9,583 SF

      Columbus Warehouse Space Available

      9,583 SF warehouse space for lease in Columbus, OH.
      7029 Huntley Rd, Columbus, OH 43229
      View Details
    • $3,255,000
      28,300 SF

      Columbus Warehouse with Office/Showroom Space

      Warehouse space featuring office/showroom, varying ceiling heights, and multiple docks.
      5193 Sinclair Rd, Columbus, OH 43229
      View Details
    • $9 SF/Yr
      21,028 SF

      Worthington Industrial Building with Office

      21,028 SF industrial building with 5,000 SF office space.
      6661 Huntley Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      24,714 SF

      Office/Warehouse Space for Sublease

      Office/warehouse space for sublease with convenient highway access.
      480 Schrock Rd, Columbus, OH 43229
      View Details
    • $6 SF/Yr
      19,200 SF

      Columbus Office/Warehouse Sublease Opportunity

      Office/warehouse space available for sublease in Columbus, Ohio.
      990-1030 Freeway Dr N, Columbus, OH 43229
      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.
    5057 Freeway Dr
    Columbus, OH 43229
    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

    Google sign-in failed. Please try again or use another login method.