Add Listing
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

    1650 Watermark Dr Columbus, OH 43215

    • Office buildings
    • 50,384 SF
    • 4.26 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1124367
    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

    • Korda/Nemeth Engineering Inc. / Structural Engineer / Engineering Consultant
    • Franklin County Board of Developmental Disabilities: Intake/MUI / County Government Office
    • MurphyEpson / Marketing & Advertising / Advertising Agency
    • FedEx Drop Box / Postal Service / Courier Service
    • Worthington Energy Consultants, LLC / Corporate Office

    Property Details for 1650 Watermark Dr

    Year built
    1988
    Lot size
    4.26 lot acres
    Property size
    50,384 SF
    Property type
    Office buildings
    APN
    010-210770
    APU
    10210770

    Description

    This exceptional two-story office building, located at 1650 Watermark Drive in Columbus, Ohio's desirable Northwest UA/Grandview submarket (zip code 43215), offers 9,345 square feet of premium executive office space. Currently, the entire building is available for lease, providing a unique opportunity for a single tenant to occupy the entire space. Alternatively, the property is divisible, with a minimum leasable area of 4,000 square feet. The building is zoned M and features ample parking with five spaces available. The property's address is 1650 Watermark Drive, Columbus, OH 43215, and its APN is 010-210770. This presents a rare chance to secure a substantial, well-located office space in a thriving Columbus neighborhood. The building's size allows for flexibility in layout and configuration to suit a variety of business needs. With its convenient location and substantial square footage, this property is ideal for businesses seeking a prominent presence in the Columbus market. The entire 9,345 square feet is currently vacant, making it ready for immediate occupancy. Interested parties should inquire about lease terms and conditions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,918,000
      Market price range: $1.14M - $5.10M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,135,000
      Current use
      AUTO REPAIR, GARAGE
      $7,990,000
      Change: +12% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $7,305,000
      Change: +2% Conversion: Easy
      MEDICAL BUILDING
      $6,805,000
      Change: -5% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,930,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0475
    Latitude
    39.9715
    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
    $223,041
    $971,360
    $2,081,980
    $3,053,340
    -
    $2,775,300
    $5,948,500
    $8,723,800

    Comparable in this City

    • Value Estimation by Request
      0.38 Acres

      330 Huntington Park Ln

      OFFICE BUILDING (MULTI-STORY) • 0.38 Acres
      330 Huntington Park Ln, Columbus, OH 43215-2316
      View Details
    • Value Estimation by Request
      0.03 Acres

      Spruce St

      OFFICE BUILDING (MULTI-STORY) • 0.03 Acres
      Spruce St, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      0.01 Acres

      Cozzins St

      OFFICE BUILDING • 0.01 Acres
      Cozzins St, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      0.06 Acres

      Noble St

      OFFICE BUILDING • 0.06 Acres
      Noble St, Columbus, OH 43215
      View Details
    • Value Estimation
      $7,695,000
      68,232 SF

      425 Nationwide Blvd

      OFFICE BUILDING (MULTI-STORY) • 68,232 SF
      425 Nationwide Blvd, Columbus, OH 43215-2340
      View Details
    • Value Estimation
      $24,670,000
      146,928 SF

      500 Neil Ave

      OFFICE BUILDING (MULTI-STORY) • 146,928 SF
      500 Neil Ave, Columbus, OH 43215-2358
      View Details

    Similar Nearby for Sale

    • $2,700,000
      1,472 SF

      Downtown Office Space with Parking

      Restored historic building near courthouse with highway access and parking.
      341-345 S 3Rd St, Columbus, OH 43215
      View Details
    • $2,300,000
      3,005 SF

      Renovated Historic Office Building

      Three-story renovated office building with ground floor retail space.
      34 W Gay St, Columbus, OH 43215
      View Details
    • Contact for pricing
      23,884 SF

      Columbus Mixed-Use Redevelopment Opportunity

      Dynamic Columbus market: mixed-use redevelopment, cash flow, parking, and amenities.
      145 E Rich St, Columbus, OH 43215
      View Details
    • Contact for pricing

      Downtown Columbus Office Building For Sale

      Two-story office building in Downtown Columbus with excellent visibility.
      1 East Livingston Ave, Columbus, OH 43215
      View Details
    • Contact for pricing
      39,082 SF

      Downtown Columbus Office Building Opportunity

      Downtown office building for sale or lease with development potential.
      195 N Grant Ave, Columbus, OH 43215
      View Details
    • $565,000

      Updated Office Condo in German Village

      Well-maintained office condo with flexible configuration and recent updates.
      169 E Livingston Ave, Columbus, OH 43215
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,452 SF

      Historic Office Building in Columbus

      Four-story office building with original features in downtown Columbus.
      130-136 E Chestnut St, Columbus, OH 43215
      View Details
    • Contact for pricing
      6,321 SF

      Class A Office Building

      Class A office building with prime location and parking.
      300 W Spruce St, Columbus, OH 43215
      View Details
    • Contact for pricing

      Arena District Office Building

      Four-story office building in the Arena District for rent.
      274 Marconi Blvd, Columbus, OH 43215
      View Details
    • $10 SF/Yr
      11,563 SF

      Historic Church Converted to Office

      Office space in historic church near Short North Arts District.
      871 Park St, Columbus, OH 43215
      View Details
    • Contact for pricing

      Class A Office Space

      Premier office space in downtown Columbus with riverfront views.
      2 Miranova Pl, Columbus, OH 43215
      View Details
    • $16 SF/Yr
      4,492 SF

      Historic Office Building in Columbus

      Five-story office building with income and customization potential.
      326-328 S High St, Columbus, OH 43215
      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.
    1650 Watermark Dr
    Columbus, OH 43215
    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.
    Sign Up Successful!
    You now have access to more from Realmo!