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    2900 Airport Dr Columbus, OH 43219-2239
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    Property profile & analytics

    2900 Airport Dr, Columbus, OH 43219-2239

    View on Map
    • Hotels
    • 41,796 SF
    • 1.81 lot acres
    Off-Market
    Last Sale Jul 28, 2024
    $4,619,675
    Property ID
    US66-6031862
    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
    $4,360,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Country Inn & Suites by Radisson, Columbus Airport, OH / Hotel & Motel

    Property Details for 2900 Airport Dr

    Year built
    2000
    Lot size
    1.81 lot acres
    Property type
    Hotels
    APN
    010-250975
    APU
    10250975

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 28, 2024 $4,619,700 Nexgen Hospitality LLC Cni Thl Propco Fe LLC Deed $3.8M · Shoreham Bank
    Dec 5, 2023 — Cni Thl Propco Fe LLC — Deed · related $794M · Morgan Stanley Mortgage Capital Holdings
    Sep 16, 2020 — Cni Thl Propco Fe LLC — Deed · related $960M · Wells Fargo Bk 2018-thpt (ce)
    Nov 17, 2017 $1,000,000 Cni Thl Propco Fe LLC Fargo Hotels Pool C Re W2005 Quit Claim Deed · related $960M · Jp Morgan Chase Bk
    Jun 4, 2013 — Fargo Hotels Pool C Re W2005 — Deed Of Trust · related $775M · German American Capital Corp
    Apr 25, 2006 $4,906,000 Fargo Hotels Pool C Re W2005 Heritage Inn & Suites Of Columbus Grant Deed —
    May 18, 2005 $595,000 Heritage Inn & Suites Of Columbus Heritage Inn Of Cloquet INC Warranty Deed —
    — — Cni Thl Propco Fe LLC — Loan Modification · related $960M · Wells Fargo Bk 2018-thpt (ce)

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,575,000
      6.5%
      $3,300,000
      7%
      $3,065,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,903,000
      Market price range: $3.62M - $6.92M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $4,835,000
      Current use
      AUTO REPAIR, GARAGE
      $6,630,000
      Change: +37% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,060,000
      Change: +25% Conversion: Difficult
      OFFICE BUILDING
      $5,965,000
      Change: +23% Conversion: Difficult
      MEDICAL BUILDING
      $5,645,000
      Change: +17% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,515,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9316
    Latitude
    40.0002
    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
    $122,409
    $220,150
    $1,455,580
    $1,675,730
    -
    $629,000
    $4,158,800
    $4,787,800

    Comparable in this City

    • Value Estimation
      $3,330,000
      54,168 SF

      1521 Cassady Ave

      HOTEL
      1521 Cassady Ave, Columbus, OH 43219-1529
      View Details
    • Value Estimation
      $5,375,000
      79,883 SF

      4265 Sawyer Rd

      HOTEL
      4265 Sawyer Rd, Columbus, OH 43219-3812
      View Details
    • Value Estimation
      $3,405,000
      43,728 SF

      2845 Airport Dr

      HOTEL
      2845 Airport Dr, Columbus, OH 43219-2241
      View Details
    • Value Estimation
      $4,265,000
      74,317 SF

      2880 Airport Dr

      HOTEL
      2880 Airport Dr, Columbus, OH 43219-2240
      View Details
    • Value Estimation
      $3,650,000
      77,998 SF

      750 Stelzer Rd

      HOTEL
      750 Stelzer Rd, Columbus, OH 43219-3738
      View Details
    • Value Estimation
      $4,625,000
      59,764 SF

      4280 International Gtwy

      HOTEL
      4280 International Gtwy, Columbus, OH 43219-1747
      View Details

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    • $3,800,000

      Columbus Industrial Warehouse For Sale

      74,458 SF industrial warehouse in Northeast Columbus with convenient access.
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      199,266 SF

      Columbus Warehouse Space Available

      199,266 square foot warehouse space in Columbus, Ohio.
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      Franklin County Land Opportunity

      Land zoned R-2 with multiple development possibilities.
      Rankin Ave, Columbus, OH 43219
      View Details
    • Contact for pricing
      1,500 SF

      Cleared Commercial Site For Sale

      Prime commercial land ready for immediate development in high-demand area.
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    Similar Nearby for Lease

    • Contact for pricing
      27,430 SF

      Columbus Retail Space For Lease

      552,280 square foot retail property in Columbus, Ohio.
      3695-3737 Easton Market, Columbus, OH 43219
      View Details
    • Contact for pricing
      44,000 SF

      Columbus Office/Warehouse Space Available

      Office and warehouse space in the airport/east submarket for lease.
      3000-3004 E 14Th Ave, Columbus, OH 43219
      View Details
    • $4,000 /Mo
      3,580 SF

      Renovated Flex Space on Rose Avenue

      Move-in ready retail/flex space near downtown Columbus with high visibility.
      818 Rose Ave, Columbus, OH 43219
      View Details
    • Contact for pricing
      7,584 SF

      East Side Warehouse Sublease Opportunity

      Warehouse sublease near airport with shared docks and drive-in.
      2300 Marilyn Ln, Columbus, OH 43219
      View Details
    • $14 SF/Yr
      30,000 SF

      Columbus Office Space For Rent

      Office and medical space available near Columbus International Airport.
      3100 Plaza Properties Blvd, Columbus, OH 43219
      View Details
    • $16 SF/Yr
      92,913 SF

      Class A Office Spaces

      Premier office spaces with modern amenities in Columbus, Ohio.
      1 Easton Oval, Columbus, OH 43219
      View Details
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    Columbus, OH 43219-2239
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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.

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