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

    3099 Sullivant Ave Columbus, OH 43204-1895

    • Office buildings
    • 4,980 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2025
    $430,000
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0528702
    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

    • Doug Bulson Jr Law Office: Bulson Jr Douglas W / Insurance Attorney
    • Holistic Wellness Solutions / Nurse Practitioner / Care Services
    • Bergman & Yiangou / Law Firm / Bankruptcy Attorney
    • Rachel Colson / Nurse Practitioner / Registered General Nurse
    • Accuratax of Columbus / Tax Preparation Service

    Property Details for 3099 Sullivant Ave

    Year built
    1954
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    4,980 SF
    Property type
    Office buildings
    APN
    010-034185
    APU
    10034185

    Description

    This exceptional 4,980 square foot multi-use building presents a fantastic investment opportunity in a rapidly redeveloping area of Columbus, Ohio. Located at 3099 Sullivant Avenue, this property boasts a prime location with excellent visibility. Built in 1954 and extensively renovated in 2021, the building is in excellent condition and meets all current building codes. Recent upgrades include two new furnaces, two new air conditioning units, a new parking lot, two renovated bathrooms, electrical upgrades, a new security system, a remodeled kitchenette, and new carpeting throughout. The lower level is currently rented month-to-month to long-term tenants at $2,750 per month, offering immediate income potential. While the tenants are keen to remain, the space can be vacated if desired. The upper level is currently vacant and ready for immediate occupancy or new tenants. The 7,405.2 square foot lot provides ample space. The asking price is $424,999, translating to $85.34 per square foot. This rare, large multi-use building offers endless possibilities for a variety of uses and represents a unique opportunity in a thriving Columbus neighborhood. The property's recent renovations and strong rental income potential make it an attractive investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $375,000
      Market price range: $375k - $1.10M
      AI Estimate
      $272,000
      Market price range: $273k - $692k

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0815
    Latitude
    39.943
    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
    $3,876
    $12,950
    $40,110
    $53,060
    -
    $37,000
    $114,600
    $151,600

    Comparable in this City

    • Value Estimation
      $275,000
      1,219 SF

      2880 Fisher Rd

      OFFICE BUILDING • 1,219 SF
      2880 Fisher Rd, Columbus, OH 43204-3538
      View Details
    • Value Estimation
      $4,020,000
      61,210 SF

      1500 Lk Shr Dr

      OFFICE BUILDING (MULTI-STORY) • 61,210 SF
      1500 Lk Shr Dr, Columbus, OH 43204-3800
      View Details
    • Value Estimation
      $345,000
      3,000 SF

      2759 Mckinley Ave

      OFFICE BUILDING • 3,000 SF
      2759 Mckinley Ave, Columbus, OH 43204-3648
      View Details
    • Value Estimation
      $240,000
      114,552 SF

      2323 5th Ave

      OFFICE BUILDING • 114,552 SF
      2323 5th Ave, Columbus, OH 43204-4899
      View Details
    • Value Estimation
      $140,000
      2,037 SF

      2503 Broad St

      OFFICE BUILDING • 2,037 SF
      2503 Broad St, Columbus, OH 43204-3322
      View Details
    • Value Estimation
      $295,000
      1,305 SF

      2904 Broad St

      OFFICE BUILDING • 1,305 SF
      2904 Broad St, Columbus, OH 43204-2648
      View Details

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    • Contact for pricing
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      Columbus Duplex - Prime Investment

      Cash-flowing duplex, renovated in 2020.
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      Columbus Land: 3.11 Acres

      Prime Columbus land, 135,471 sq ft, Opportunity Zone.
      2700 Mckinley Ave, Columbus, OH 43204
      View Details

    Similar Nearby for Lease

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      Office space with shared conference facilities and convenient location.
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      View Details
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    Columbus, OH 43204-1895
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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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