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    Property profile & analytics

    15 Gay St, Unit 25 Columbus, OH 43215-3100

    • Investment properties
    • 29,636 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $2,685,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1802659
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Shyft Collective / Architecture Firm / Construction Company
    • DEV Partners / Construction Company / General Contractor
    • Holden Ellis / Advertising Agency / Marketing & Advertising
    • Hunter Marketing / Advertising Agency / Marketing & Advertising
    • DEV Communities / Property Management Company

    Property Details for 15 Gay St

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    29,636 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    010-040138
    APU
    10040138

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,210,000
      Market price range: $1.83M - $4.68M
      AI Estimate
      $1,676,000
      Market price range: $695k - $3.03M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,490,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $4,295,000
      Change: +23% Conversion: Moderate
      OFFICE BUILDING
      $4,200,000
      Change: +20% Conversion: Easy
      MEDICAL BUILDING
      $4,000,000
      Change: +15% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,205,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $3,180,000
      Change: -9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0003
    Latitude
    39.9635
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $62,549
    $196,670
    $608,060
    $804,730
    -
    $561,900
    $1,737,300
    $2,299,200

    Comparable in this City

    • Value Estimation
      $7,920,000
      54,403 SF

      900 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 54,403 SF
      900 High St, Columbus, OH 43215-1453
      View Details
    • Value Estimation
      $1,770,000
      0.03 Acres

      13 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.03 Acres
      13 State St, Columbus, OH 43215-4108
      View Details
    • Value Estimation
      $1,780,000
      6,498 SF

      13 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,498 SF
      13 State St, Columbus, OH 43215-4108
      View Details
    • Value Estimation
      $905,000
      5,200 SF

      82 Ml St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,200 SF
      82 Ml St, Columbus, OH 43215
      View Details
    • Value Estimation
      $845,000
      7,200 SF

      268 4th St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,200 SF
      268 4th St, Columbus, OH 43215-5216
      View Details
    • Value Estimation
      $2,045,000
      14,178 SF

      161 4th St

      OFFICE/RESIDENTIAL (MIXED USE) • 14,178 SF
      161 4th St, Columbus, OH 43215-3297
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      842 SF

      Industrial-Chic Loft in Brewery District

      West-facing loft with industrial vibe, modern amenities, and prime location.
      570 S Front St, Columbus, OH 43215
      View Details
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      2,301 SF

      Downtown Office Condo with Loft

      Move-in-ready office condo with loft, open floor plan.
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      Mixed-Use Office Condo with Cyclorama

      2,301 SF mixed-use condo with cyclorama wall and high ceilings.
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    • Contact for pricing
      700,000 SF

      Downtown Columbus Live-Work-Play Landmark

      31-story building with office, hotel, residential, and retail spaces.
      475 N Wall St, Columbus, OH 43215
      View Details
    • $198,900
      0.06 Acres

      Prime Land in Growing Neighborhood

      Mixed-use lot in Franklinton, ideal for residential or commercial development.
      498 W Town St, Columbus, OH 43215
      View Details
    • $2,000,000
      38,337 SF

      Downtown Redevelopment Opportunity

      Three buildings totaling 38,337 SF on 0.54 acres.
      171-191 S High St, Columbus, OH 43215
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      66,243 SF

      Class A Office Space Available

      Class A office space in revitalized mixed-use development near downtown.
      535 Reach Blvd, Columbus, OH 43215
      View Details
    • $12 SF/Yr
      107,550 SF

      Downtown Columbus Creative Office Space

      Historic building, flexible suites, prime location.
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      View Details
    • Contact for pricing
      2,635 SF

      Retail Space in Mixed-Use Center

      Retail space available in high-traffic, mixed-use development.
      1072-1076 Dublin Rd, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,683 SF

      East Franklinton Mixed-Use Development Retail

      New retail space in East Franklinton's mixed-use development.
      401 W Rich St, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,090 SF

      Downtown Columbus Mixed-Use Development

      Mixed-use development with retail space and strong co-tenancy.
      190 South High St, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,890 SF

      Franklinton Mixed-Use Retail Space

      Prime Franklinton retail opportunity. 1,890 sq ft available.
      500 Broad St, Columbus, OH 43215
      View Details
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    15 Gay St, Unit 25
    Columbus, OH 43215-3100
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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.

    More about this property
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