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    Property profile & analytics

    2323 5Th Ave Columbus, OH 43204

    • Specialty properties
    • 1,000 SF
    • 0.46 lot acres
    For Lease
    View listing
    $6 SF/Yr
    Last Sale
    Oct 05, 2021
    $147,500
    Value Estimations
    $135,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0734439
    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

    • Digital Data Technologies, Inc. / Software Company
    • Plevin & Gallucci / Legal Services / Medical Lawyer
    • Rapid Response Trainings, LLC / Education Center
    • Youth Advocate Services / Mental Health Service / Non-Profit Organization
    • WTVN / Radio Broadcaster

    Property Details for 2323 5Th Ave

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.46 lot acres
    Property size
    1,000 SF
    Zone code
    2323
    Property type
    Specialty properties
    APN
    010-032656
    APU
    10032656

    Description

    The Cliffs Office Center, located at 2323 W. Fifth Ave in Columbus, Ohio (zip code 43203), is a dynamic medical and professional office building totaling 69,784 square feet. This Franklin County property underwent a complete renovation and rebranding in 2009-2010, resulting in a modern and innovative office space. Multiple tenancy options are available, with a minimum divisible space of 2,780 square feet and a maximum contiguous space of 28,748 square feet. Currently, 45,231 square feet of space is vacant and ready for immediate occupancy. The building offers ample parking, with a ratio of 5 spaces per 1,000 square feet. The property's design caters to businesses seeking a modern and culture-driven workspace. This prime location just outside of downtown Columbus offers convenient access to major transportation routes and amenities. The building's 2010 renovation ensures modern infrastructure and efficient layouts, making it an ideal location for medical practices and other professional businesses. Interested parties should inquire about available suite sizes and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $135,000
      ML approach
      $170,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $91,000
      Market price range: $37.7k - $91.1k

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9424
    Latitude
    39.9855
    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
    $4,295
    $24,220
    $34,580
    $58,800
    -
    $69,200
    $98,800
    $168,000

    Comparable in this City

    • Value Estimation
      $285,000
      2,170 SF

      1771 Joyce Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,170 SF
      1771 Joyce Ave, Columbus, OH 43219-1025
      View Details
    • Value Estimation
      $80,000
      960 SF

      2954 5th Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS • 960 SF
      2954 5th Ave, Columbus, OH 43219-2802
      View Details
    • Value Estimation by Request
      3,609 SF

      1420 5Th Ave

      Specialty properties • 3,609 SF
      1420 5Th Ave, Columbus, OH 43219
      View Details
    • Value Estimation
      $255,000
      0.13 Acres

      1362 Sigsbee Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS • 0.13 Acres
      1362 Sigsbee Ave, Columbus, OH 43219-1967
      View Details
    • Value Estimation by Request

      2423 Stelzer Rd

      Specialty properties
      2423 Stelzer Rd, Columbus, OH 43219
      View Details
    • Value Estimation
      $285,000
      2,040 SF

      1288 Sigsbee Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,040 SF
      1288 Sigsbee Ave, Columbus, OH 43219-2143
      View Details

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    • $450,000
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      Columbus Church and Land Available

      Church building and vacant land for sale in Columbus, Ohio.
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      Columbus Land: Prime Development Opportunity

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    Similar Nearby for Lease

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      Modern Office Suites, Flexible Options
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    • $12 SF/Yr
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    • Contact for pricing
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      Class A industrial space in growing Columbus business hub.
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      7,671 SF

      Freestanding Restaurant Space Near Easton

      Former restaurant space for lease near Easton Town Center.
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      View Details
    • Contact for pricing
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      Columbus Class A Industrial Space

      Class A industrial development near Downtown Columbus and major transportation.
      1401 Joyce Ave, Columbus, OH 43219
      View Details
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    2323 5Th Ave
    Columbus, OH 43204
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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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