Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2006 Polaris Pkwy Columbus, OH 43240-2007
    Back to Search
    Property profile & analytics

    2006 Polaris Pkwy, Columbus, OH 43240-2007

    View on Map
    • Hotels
    • 72,122 SF
    • 3.72 lot acres
    Off-Market
    Property ID
    US66-5196917
    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.
    Value Estimations
    $5,470,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hyatt Place Columbus Polaris / Hotel & Motel

    Property Details for 2006 Polaris Pkwy

    Year built
    2020
    Lot size
    3.72 lot acres
    Property type
    Hotels
    APN
    318-443-02-002-004
    APU
    31844302002004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 6, 2022 — Sakshi Gopal LLC — Deed · related $13.5M · Ohio State Bank
    Jun 30, 2021 — Outhack Steakhouse Of Florida LLC Sakshi Gopal LLC Lease —
    Dec 10, 2019 — Sakshi Gopal LLC Nitin K Patel Correction Deed · related —
    Nov 25, 2019 — Patel,nitin K Tr Sakshi Gopal LLC Quit Claim Deed · related —
    Nov 27, 2018 — Sakshi Gopal LLC — Trustees Deed · related $13.2M · Lcnb Nat'l Bk
    Jul 25, 2018 — Sakshi Gopal LLC Badrivishal LLC Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,165,000
      6.5%
      $5,690,000
      7%
      $5,285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,617,000
      Market price range: $699k - $4.42M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $8,345,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $7,795,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $7,740,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9647
    Latitude
    40.145
    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
    $312,467
    $354,730
    $4,249,110
    $4,603,840
    -
    $1,013,500
    $12,140,300
    $13,153,800

    Comparable in this City

    • Value Estimation
      $5,750,000
      91,387 SF

      9090 Lyra Dr

      HOTEL
      9090 Lyra Dr, Columbus, OH 43240-2116
      View Details
    • Value Estimation
      $2,960,000
      48,126 SF

      8400 Lyra Dr

      HOTEL
      8400 Lyra Dr, Columbus, OH 43240-2096
      View Details
    • Value Estimation
      $6,870,000
      56,204 SF

      8505 Pulsar Pl

      HOTEL
      8505 Pulsar Pl, Columbus, OH 43240-2030
      View Details
    • Value Estimation
      $4,335,000
      79,082 SF

      8411 Pulsar Pl

      HOTEL
      8411 Pulsar Pl, Columbus, OH 43240-2028
      View Details
    • Value Estimation
      $8,110,000
      108,742 SF

      8805 Orion Pl

      HOTEL
      8805 Orion Pl, Columbus, OH 43240-3201
      View Details
    • Value Estimation
      $10,000,000
      88,904 SF

      9100 Lyra Dr

      HOTEL
      9100 Lyra Dr, Columbus, OH 43240-2116
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,061 SF

      Retail Space Near Polaris Fashion

      Retail space across from the most visited Ohio retail center.
      8787 Sancus Blvd, Columbus, OH 43240
      View Details
    • $1,025,000
      5,130 SF

      Polaris Area Flex/Retail/Office Building

      5,130 SF building ideal for flex, office, or retail.
      9015 Antares Ave, Columbus, OH 43240
      View Details
    • Contact for pricing

      8900 Lyra Drive, Columbus, OH

      Commercial real estate at 8900 Lyra Drive, Columbus, OH 43240.
      8900 Lyra Dr, Columbus, OH 43240
      View Details
    • Contact for pricing
      3,200 SF

      Established Moo Moo Express Car Wash

      NNN leased car wash in Columbus, Ohio retail corridor.
      460 Lazelle Rd, Columbus, OH 43240
      View Details
    • Contact for pricing

      Prime Land Near I-71

      4.2 acre commercial site with high visibility.
      1900 Ikea Way, Columbus, OH 43240
      View Details
    • Contact for pricing
      4,884 SF

      Multi-Tenant Office Property For Sale

      Three-story office building in Polaris location with immediate suite availability.
      8740 Orion Pl, Columbus, OH 43240
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      730,131 SF

      Polaris Towne Center Retail Space

      Columbus Retail Space: 2,486 sq ft available
      1161 Polaris Pkwy, Columbus, OH 43240
      View Details
    • Contact for pricing

      Three-Story Multi-Tenant Office Building

      Three-story office building with 52,027 square feet available for rent.
      8760 Orion Pl, Columbus, OH 43240
      View Details
    • Contact for pricing
      5,073 SF

      Antares Drive Office Suite

      Second-floor office suite with private offices, conference room, kitchenette.
      9039 Antares Ave, Columbus, OH 43240
      View Details
    • Contact for pricing

      Land For Lease Columbus

      Land available for lease in Columbus, Ohio.
      Ikea Way, Columbus, OH 43240
      View Details
    • Contact for pricing
      2,000 SF

      Mixed-Use Development with Retail Space

      Class A development featuring office, retail, residential, and hotel space.
      8924-8958 Lyra Dr, Columbus, OH 43240
      View Details
    • Contact for pricing

      Land for Rent Columbus

      Land available for rent at 2200 Ikea Wy, Columbus, OH.
      2200 Ikea Way, Columbus, OH 43240
      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.
    2006 Polaris Pkwy
    Columbus, OH 43240-2007
    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

    Thank You for Inquiry
    2006 Polaris Pkwy, Columbus, OH, 43240
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!