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    Property profile & analytics

    1801 Watermark Dr Columbus, OH 43215

    • Office buildings
    • 94,134 SF
    • 20.11 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2033560
    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

    • Corient / Financial Advisor
    • National Youth Advocate Program / Charitable Organization / Social Service Agency
    • Marita Acosta / Foster Care Service / Social Service Agency
    • GPD Group / Engineering Consultant / Architecture Firm
    • KOFFEL | BRININGER | NESBITT / Law Firm

    Property Details for 1801 Watermark Dr

    Year built
    2000
    Lot size
    20.11 lot acres
    Property size
    94,134 SF
    Property type
    Office buildings
    APN
    010-129541
    APU
    10129541

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,752,000
      Market price range: $2.12M - $9.52M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $13,335,000
      Current use
      AUTO REPAIR, GARAGE
      $14,930,000
      Change: +12% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $13,645,000
      Change: +2% Conversion: Easy
      MEDICAL BUILDING
      $12,710,000
      Change: -5% Conversion: Easy
      COMMERCIAL (GENERAL)
      $11,080,000
      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
    -83.055
    Latitude
    39.9718
    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
    $351,509
    $613,030
    $4,198,990
    $4,812,020
    -
    $1,751,500
    $11,997,100
    $13,748,600

    Comparable in this City

    • Value Estimation
      $22,370,000
      476,776 SF

      10 Broad St

      OFFICE BUILDING (MULTI-STORY) • 476,776 SF
      10 Broad St, Columbus, OH 43215-3418
      View Details
    • Value Estimation
      $24,220,000
      331,468 SF

      471 Broad St

      OFFICE BUILDING (MULTI-STORY) • 331,468 SF
      471 Broad St, Columbus, OH 43215-3822
      View Details
    • Value Estimation
      $20,955,000
      247,408 SF

      50 Town St

      OFFICE BUILDING (MULTI-STORY) • 247,408 SF
      50 Town St, Columbus, OH 43215-4173
      View Details
    • Value Estimation by Request
      1,632 SF

      195 Washington Ave

      OFFICE BUILDING • 1,632 SF
      195 Washington Ave, Columbus, OH 43215
      View Details
    • Value Estimation
      $9,285,000
      71,695 SF

      555 Goodale St

      OFFICE BUILDING (MULTI-STORY) • 71,695 SF
      555 Goodale St, Columbus, OH 43215-1104
      View Details
    • Value Estimation
      $36,635,000
      303,833 SF

      240 Nationwide Blvd, Unit 290

      OFFICE BUILDING (MULTI-STORY) • 303,833 SF
      240 Nationwide Blvd, Columbus, OH 43215-2851
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      39,082 SF

      Downtown Columbus Office Building Opportunity

      Downtown office building for sale or lease with development potential.
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      Two-story office building in Downtown Columbus with excellent visibility.
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      Updated Office Condo in German Village

      Well-maintained office condo with flexible configuration and recent updates.
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      Downtown Office Space with Parking

      Restored historic building near courthouse with highway access and parking.
      341-345 S 3Rd St, Columbus, OH 43215
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      27,160 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
    • Contact for pricing

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      31-story building with office, hotel, residential, and retail spaces.
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    Similar Nearby for Lease

    • $16 SF/Yr
      11,341 SF

      Class A Office Building

      330,000 RSF office building with on-site amenities.
      471 East Broad St, Columbus, OH 43215
      View Details
    • Contact for pricing
      12,855 SF

      Renovated Office Building in Columbus

      Five-story multi-tenant building with renovated common areas and modern suites.
      226 North 5Th St, Columbus, OH 43215
      View Details
    • Contact for pricing
      7,748 SF

      Class A Office Space Available

      Class A office space with stunning views in Columbus, Ohio.
      41 S High St, Columbus, OH 43215
      View Details
    • $26 SF/Yr
      10,219 SF

      Short North Office Space Available

      Iconic office building in a vibrant, mixed-use Short North location.
      629 North High St, Columbus, OH 43215
      View Details
    • $4,000,000
      8,630 SF

      Downtown Office Building For Rent

      Five-story office building with on-site management and highway access.
      35 N 4Th St, Columbus, OH 43215
      View Details
    • Contact for pricing
      178,500 SF

      Prime Arena District Office Space

      Office building in the heart of the Arena District.
      10 West Nationwide Blvd, Columbus, OH 43215
      View Details
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    Columbus, OH 43215
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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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