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

    1689 Main St Columbus, OH 43205-2267

    • Commercial real estate
    • 2,144 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6271057
    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

    • Stevens Law Firm / Law Firm

    Property Details for 1689 Main St

    Year built
    1915
    Construction
    WOOD
    Lot size
    0.08 lot acres
    Property size
    2,144 SF
    Property type
    Commercial real estate
    APN
    010-040166
    APU
    10040166

    Description

    This 2,144 sq ft, Class B, two-story office building at 1689 E Main Street in Columbus, Ohio, is available for $399,000. Built in 1915, the property features two separate suites with private entrances. The first floor boasts six offices, a large conference room, two restrooms, a kitchenette, and additional basement storage. The second floor includes four offices, a restroom, and a kitchenette. Both suites have been tastefully remodeled with modern finishes, including glass walls on the first floor. The second floor offers flexibility, potentially suitable for conversion into a short-term rental. The property includes a .08-acre adjacent lot, ideal for creating additional parking. Street parking is readily available on Main Street. The seller is open to lease options. The property sits on a 3,484.8 sq ft lot and is currently vacant. This presents a unique opportunity in a desirable downtown Columbus location. The price per square foot is $209.42.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.954
    Latitude
    39.9573
    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
    $2,481
    $6,060
    $27,900
    $33,960
    -
    $17,300
    $79,700
    $97,000

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      1230 Main St

      COMMERCIAL (GENERAL) • 0.16 Acres
      1230 Main St, Columbus, OH 43205
      View Details
    • Value Estimation by Request
      3,996 SF

      380 Gilbert St

      COMMERCIAL (GENERAL) • 3,996 SF
      380 Gilbert St, Columbus, OH 43205-2307
      View Details
    • Value Estimation
      $1,645,000
      10,581 SF

      738 Bryden Rd

      COMMERCIAL (GENERAL) • 10,581 SF
      738 Bryden Rd, Columbus, OH 43205-1373
      View Details
    • Value Estimation
      $1,905,000
      47,502 SF

      1415 Franklin Ave

      COMMERCIAL (GENERAL) • 47,502 SF
      1415 Franklin Ave, Columbus, OH 43205-2003
      View Details
    • Value Estimation by Request
      858 SF

      1135 Livingston Ave

      COMMERCIAL (GENERAL) • 858 SF
      1135 Livingston Ave, Columbus, OH 43205
      View Details
    • Value Estimation by Request
      2,397 SF

      1734 Livingston Ave

      COMMERCIAL (GENERAL) • 2,397 SF
      1734 Livingston Ave, Columbus, OH 43205-3023
      View Details

    Similar Nearby for Sale

    • $875,000
      5,427 SF

      Prime Columbus Multifamily Investment

      Two-unit building, high-potential, C4 zoning.
      374 Wilson Ave, Columbus, OH 43205
      View Details
    • $899,999

      Columbus Multifamily Investment Opportunity

      4-Unit Building, High ROI Potential
      250 18Th St, Columbus, OH 43205
      View Details
    • $1,000,000

      Prime Olde Towne East Multifamily

      Four-unit building, newly renovated, high ROI.
      121-125 Wilson Ave, Columbus, OH 43205
      View Details
    • $525,000

      Columbus Duplex: Prime Airbnb Investment

      Turnkey Duplex, High Returns, Fully Furnished
      266 Miller Ave, Columbus, OH 43205
      View Details
    • $875,000
      16,739 SF

      Columbus Church Conversion Opportunity

      Historic building, huge potential, needs renovation.
      36 Garfield Ave, Columbus, OH 43205
      View Details
    • $399,000

      New Townhome in Olde Towne

      Zero-maintenance townhome in Olde Towne East, short-term rentals allowed.
      181 S Ohio Ave, Columbus, OH 43205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      97,129 SF

      Triumph: Olde Towne East Retail Space

      Prime corner retail/restaurant, 1,638 sq ft available.
      80 18Th St, Columbus, OH 43205
      View Details
    • $9 SF/Yr
      5,400 SF

      Industrial Space with Fenced Yard

      5,400 SF industrial space featuring fenced exterior yard.
      1978 E Walnut St, Columbus, OH 43205
      View Details
    • $10 SF/Yr
      60,000 SF

      Bexley Business Park: Flex Space Available

      Columbus industrial space, 3,200-60,000 SF
      572 Nelson Rd, Columbus, OH 43205
      View Details
    • $16 SF/Yr
      5,624 SF

      Prime Columbus Flex Space

      5,624 SF Retail/Industrial Opportunity
      156 Ohio Ave, Columbus, OH 43205
      View Details
    • $1,995 /Mo

      Stylish Apartment in Olde Towne

      2-bedroom, 2-bath apartment in historic Olde Towne East.
      1185 Gustavus Ln, Columbus, OH 43205
      View Details
    • $1,190,000

      Versatile Retail/Flex/Industrial Property

      5,624 SF retail/flex/industrial property in Columbus, OH.
      156 S Ohio Ave, Columbus, OH 43205
      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.
    1689 Main St
    Columbus, OH 43205-2267
    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.