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    Property profile & analytics

    3 Easton Oval Columbus, OH 43219

    • Office buildings
    • 98,862 SF
    • 5.59 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Last Sale
    Jan 02, 2020
    $9,400,000
    Value Estimations
    $9,665,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2274156
    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

    • Alterra Real Estate Advisors / Commercial Real Estate Agency / Office Space Rental Agency
    • Landsel Title Agency, Inc / Title Company
    • Call Psychic Now Columbus / Psychic
    • M/I Homes / Home Builder / Apartment Complex
    • Showcase Design Center / Architect

    Property Details for 3 Easton Oval

    Year built
    1995
    Lot size
    5.59 lot acres
    Property size
    98,862 SF
    Property type
    Office buildings
    APN
    520-250982
    APU
    520250982

    Description

    This prestigious Class A, five-story office building, totaling 91,249 square feet, is situated on a 7-acre lot at the highly visible Easton Oval gateway, directly off I-270. Built in 1995 and renovated in 1999, the property boasts abundant amenities including 286 surface parking spaces and 20 climate-controlled underground spaces. The building features fully updated common areas, high-efficiency mechanical systems, a new roof, and solar panels, ensuring minimal downtime. Modern infrastructure includes redundant fiber and electric with "Clean Power" capabilities and existing data center infrastructure. On-site amenities include a gym with showers and a common conference room/event center. The location offers unparalleled visibility to over 158,000 vehicles daily on I-270, with building signage opportunities. Enjoy easy access to the Easton Town Center, offering a wealth of retail, dining, and entertainment options, and proximity to John Glenn International Airport (2.5 miles). Flexible space options are available, ranging from 2,000 to 35,000 contiguous square feet. The property is located in Franklin County, Ohio, with a Columbus zip code of 43219.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,710,000
      ML approach
      $9,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,492,000
      Market price range: $7.45M - $21.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9047
    Latitude
    40.0468
    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
    $326,936
    $724,440
    $1,620,580
    $2,345,020
    -
    $2,069,800
    $4,630,200
    $6,700,000

    Comparable in this City

    • Value Estimation
      $330,000
      1,980 SF

      2924 5th Ave

      OFFICE BUILDING • 1,980 SF
      2924 5th Ave, Columbus, OH 43219-2802
      View Details
    • Value Estimation
      $390,000
      15,300 SF

      7th Ave

      OFFICE BUILDING • 15,300 SF
      7th Ave, Columbus, OH 43219
      View Details
    • Value Estimation
      $300,000
      0.11 Acres

      917 23rd St

      OFFICE BUILDING • 0.11 Acres
      917 23rd St, Columbus, OH 43219-2430
      View Details
    • Value Estimation
      $790,000
      84,059 SF

      Morse Xing

      OFFICE BUILDING (MULTI-STORY) • 84,059 SF
      Morse Xing, Columbus, OH 43219
      View Details
    • Value Estimation
      $2,485,000
      8,755 SF

      2828 Johnstown Rd

      OFFICE BUILDING • 8,755 SF
      2828 Johnstown Rd, Columbus, OH 43219-2322
      View Details
    • Value Estimation
      $265,000
      0.39 Acres

      Easton Sq Pl

      OFFICE BUILDING (MULTI-STORY) • 0.39 Acres
      Easton Sq Pl, Columbus, OH 43219
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • Contact for pricing
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      Easton Town Center Office Building

      Class A Office, 91,249 SF, Columbus
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    • $950,000
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      Columbus Industrial Building For Sale

      Stand-alone industrial building near downtown Columbus with new 5-year lease.
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    • $3,200,000
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      Buffalo Wild Wings Ground Lease

      Single-tenant retail property in the Easton Shopping Corridor.
      3969 Morse Xing, Columbus, OH 43219
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    • $257,000

      Land Near Easton Town Center

      Land available near shopping, parks, and Columbus Airport.
      2423 Stelzer Rd, Columbus, OH 43219
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    • $505,000

      Land on Stelzer and Agler

      1.62 acres of commercial land in Columbus, Ohio.
      3662 Agler Rd, Columbus, OH 43219
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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
    • $9 SF/Yr
      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
    • $10 SF/Yr
      150,000 SF

      Citygate Commerce Center: Columbus, OH

      Class A Flex Space, Columbus, Ohio
      2120-2240 Citygate Dr, Columbus, OH 43219
      View Details
    • $12 SF/Yr
      41,000 SF

      Columbus Medical Office Building

      Modern medical office space available.
      3100 Plaza Properties Blvd, Columbus, OH 43219
      View Details
    • $16 SF/Yr
      6,665 SF

      Columbus Office Space For Lease

      Office space available for lease in Columbus, Ohio.
      2 Easton Oval, Columbus, OH 43219
      View Details
    • $18 SF/Yr
      5,941 SF

      Three-Story Office Building For Rent

      Office suites available in a three-story building.
      2740 Airport Dr, 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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