Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    222-222 5th W College Ave Springfield, OH 45504
    Back to Search
    Property profile & analytics

    222-222 5th W College Ave, Springfield, OH 45504

    View on Map
    • Schools
    • 2,438 SF
    • 0.17 lot acres
    Off-Market
    Last Sale Jun 6, 2025
    $3,100,000
    Property ID
    US66-2423194
    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
    $2,800,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Schools

    Property Details for 222-222 5th W College Ave

    Year built
    1886
    Lot size
    0.17 lot acres
    Property type
    Schools
    APN
    340-07-00035-113-1010
    APU
    34007000351131010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 6, 2025 $3,100,000 The Ridgewood Group LLC Brd Of Directors Of Wittenberg Coll Deed $3.7M · The Citizens National Bank Of Bluffton

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,580,000
      ML approach
      $2,415,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8145
    Latitude
    39.9321
    CBSA code
    44220
    CBSA name
    SPRINGFIELD, 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
    2022
    $0.00
    $5,250
    $27,210
    $32,460
    -
    $15,000
    $77,750
    $92,750

    Comparable in this City

    • Value Estimation by Request
      0.64 Acres

      1291 Yellow Spgs St

      COLLEGE, UNIVERSITY, VOC SCHOOL
      1291 Yellow Spgs St, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.13 Acres

      Facility Ct

      COLLEGE, UNIVERSITY, VOC SCHOOL
      Facility Ct, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.17 Acres

      Yellow Spgs St

      COLLEGE, UNIVERSITY, VOC SCHOOL
      Yellow Spgs St, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.17 Acres

      Yellow Spgs St

      COLLEGE, UNIVERSITY, VOC SCHOOL
      Yellow Spgs St, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      0.21 Acres

      281 Mccreight Ave

      COLLEGE, UNIVERSITY, VOC SCHOOL
      281 Mccreight Ave, Springfield, OH 45504-1816
      View Details
    • Value Estimation by Request
      0.18 Acres

      215 Mccreight Ave

      COLLEGE, UNIVERSITY, VOC SCHOOL
      215 Mccreight Ave, Springfield, OH 45504-1816
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45,000 SF

      Restored School Building on 8 Acres

      Two buildings totaling 45,000 SF on 8 acres near Springfield.
      3500 W National Rd, Springfield, OH 45504
      View Details
    • Contact for pricing
      2,100 SF

      High-Traffic Corner Commercial Opportunity

      Visible corner location ideal for retail and service businesses.
      2700 W National Rd, Springfield, OH 45504
      View Details
    • Contact for pricing
      17,000 SF

      Downtown Springfield Retail Space

      17,000 SF retail space on 1.015 acres in Springfield.
      622-630 W Main St, Springfield, OH 45504
      View Details
    • $32,900

      Land Near Wittenberg Campus

      Land for sale near Wittenberg campus, Springfield, OH.
      114-116 E Ward St, Springfield, OH 45504
      View Details
    • $32,900

      Land Near Wittenberg Campus

      Land for sale near Wittenberg campus, great investment opportunity.
      120 E Ward St, Springfield, OH 45504
      View Details
    • Contact for pricing

      Springfield Duplex Near Wittenberg University

      Well-maintained duplex near Wittenberg University, fully leased, remodeled in 2021.
      1107 N Fountain Ave, Springfield, OH 45504
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,440 SF

      Retail Space Available For Lease

      Retail space available for lease in Springfield, OH.
      1985-2075 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      71,467 SF

      Warehouse Space with HVAC

      Remaining 396,314 SF warehouse space with full HVAC.
      1475 Upper Valley Pike, Springfield, OH 45504
      View Details
    • Contact for pricing
      10,426 SF

      Springfield Commons Outparcel Retail Opportunity

      Retail strip center with value-add opportunity in Springfield, Ohio.
      1501 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      12,800 SF

      Retail Space Near Major Retailers

      Retail spaces available near major retailers and a hospital.
      1500 Upper Valley Pike, Springfield, OH 45504
      View Details
    • Contact for pricing

      Retail Space in Bechtle Square

      Retail spaces available in a high-traffic area near major retailers.
      1764 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      6,000 SF

      Springfield Office Space For Rent

      6,000 sqft office space available for lease.
      5 West North St, Springfield, OH 45504
      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.
    222-222 5th W College Ave
    Springfield, OH 45504
    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
    222-222 5th W College Ave, Springfield, OH, 45504
    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!