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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2720 Airport Dr Columbus, OH 43219

    • Office buildings
    • 17,878 SF
    • 1.99 lot acres
    For Lease
    View listing
    $26 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2239207
    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

    • Chalmers P. Wylie VA Behavioral Health Center / Medical Clinic
    • Pinnacle Hospitality Systems / Software Company / Business To Business Service
    • C.O.R.E. Tax Services / Tax Preparation Service
    • Mediated Solutions / Mediation Service
    • All Pack Express / Freight Forwarding Service

    Property Details for 2720 Airport Dr

    Year built
    1997
    Construction
    WOOD
    Lot size
    1.99 lot acres
    Property size
    17,878 SF
    Property type
    Office buildings
    APN
    010-236482
    APU
    10236482

    Description

    This single-story, 18,000-square-foot office building at 2720 Airport Drive in Franklin County offers a variety of workspace solutions. Built in 1996 and extensively renovated in 2023, the property boasts a contemporary feel. Currently, 250 square feet of immediately available space is perfect for a small business or individual professional. The building accommodates multiple tenants, with a minimum divisible space of 250 square feet and a maximum contiguous space of 250 square feet. The property sits on two acres of land, providing ample parking with a generous 70 spaces (a ratio of 3.89 spaces per 1,000 square feet). Convenient access to I-670 via Airport Drive ensures easy commuting for employees and clients. The building's flexible layout caters to various business needs, from traditional office setups to coworking arrangements or executive suites. This prime location and recent renovation make this an exceptional opportunity for businesses seeking modern, efficient, and conveniently located office space. The property offers a blend of classic office space with the advantages of a recent upgrade, ensuring a comfortable and productive work environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,091,000
      Market price range: $1.35M - $3.96M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,550,000
      Current use
      AUTO REPAIR, GARAGE
      $2,835,000
      Change: +11% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,590,000
      Change: +2% Conversion: Easy
      MEDICAL BUILDING
      $2,415,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9338
    Latitude
    39.9966
    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
    $42,175
    $243,950
    $333,410
    $577,360
    -
    $697,000
    $952,600
    $1,649,600

    Comparable in this City

    • Value Estimation by Request
      1,980 SF

      2924 5th Ave

      OFFICE BUILDING • 1,980 SF
      2924 5th Ave, Columbus, OH 43219-2802
      View Details
    • Value Estimation
      $625,000
      15,300 SF

      7th Ave

      OFFICE BUILDING • 15,300 SF
      7th Ave, Columbus, OH 43219
      View Details
    • Value Estimation by Request
      0.11 Acres

      917 23rd St

      OFFICE BUILDING • 0.11 Acres
      917 23rd St, Columbus, OH 43219-2430
      View Details
    • Value Estimation
      $6,220,000
      84,059 SF

      Morse Xing

      OFFICE BUILDING (MULTI-STORY) • 84,059 SF
      Morse Xing, Columbus, OH 43219
      View Details
    • Value Estimation
      $9,380,000
      98,862 SF

      3 Easton Oval

      OFFICE BUILDING (MULTI-STORY) • 98,862 SF
      3 Easton Oval, Columbus, OH 43219-6030
      View Details
    • Value Estimation
      $2,080,000
      8,755 SF

      2828 Johnstown Rd

      OFFICE BUILDING • 8,755 SF
      2828 Johnstown Rd, Columbus, OH 43219-2322
      View Details

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      18,000 SF

      Single Story Office Suite

      Office suite with 3 private offices near John Glenn Airport.
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    Similar Nearby for Lease

    • $18 SF/Yr
      8,061 SF

      Class A Office Space Available

      Four-story office building near airport and Easton Town Center.
      2780 Airport Dr, Columbus, OH 43219
      View Details
    • $27 SF/Yr
      5,751 SF

      Class A Office Building Near Easton

      Five-story Class A office building with high visibility and modern amenities.
      3 Easton Oval, Columbus, OH 43219
      View Details
    • $26 SF/Yr
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      Airport Drive Office Space

      Modern Office Suites, Flexible Options
      2720 Airport Dr, Columbus, OH 43219
      View Details
    • $15 SF/Yr
      45,426 SF

      Prime Agler Road Office Space

      Executive Suites, Ample Parking, Great Location
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    • $15 SF/Yr
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      Loft Office in Opportunity Zone

      Contemporary office space with exposed ceilings and ample parking.
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    • $12 SF/Yr
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      Columbus Office and Medical Space

      Office and medical suites available near Columbus International Airport.
      3100 Plaza Properties Blvd, Columbus, OH 43219
      View Details
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    Columbus, OH 43219
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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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