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Property profile & analytics
FOR LEASE
Office buildings
515 E Main St Columbus, OH 43215
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-6022186
For Lease
1 / 2
Contact for pricing
515 E Main St, Columbus, OH 43215
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1999
Total area
59,474 SF
Lot
0.67 ac (29,011 SF)
APN
010-013935
UPID
US66-6022186
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nationwide Children's Hospital Hospital Children's Hospital
-
Buckeye State SR Drivers Insurance Solutions Marketing & Advertising
-
DesignGroup Architect Interior Designer
-
Healthcare Realty Real Estate Agency
-
Xcel Physical Therapy Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.27M
Blend (final)
Blend
$6.63M
Owner & transaction history
Schmidt Dev Co Ltd · 18 yrs held
Schmidt Dev Co Ltd
since 2008
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.4M
+12.0%
Apartment house (5+ units)
$8.6M
+2.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Columbus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Columbus submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,425,000
Current use
AUTO REPAIR, GARAGE
$9,430,000
Change: +12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,620,000
Change: +2% · Conversion: Easy
MEDICAL BUILDING
$8,030,000
Change: -5% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,000,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$6.63M
Range $5.96M – $7.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$111 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$193,542
Tax year 2023
Assessed value
$2,649,510
Assessed 2023
Previous assessed
$2,598,800
+2.0% YoY
Effective rate
7.30%
On assessed value
Assessed land
$228,140
Assessed improvement
$2,421,370
Land market value
$651,800
Improvement market value
$6,918,200
Total market value
$7,570,000
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1999
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
5
Total area
59,474 SF
Lot
0.67 ac (29,011 SF)
APN
010-013935
UPID
US66-6022186
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$9.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.6M
MEDICAL BUILDING
Est. value
$8.0M
COMMERCIAL (GENERAL)
Est. value
$7.0M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
YES
Cooling
Yes
Stories
5
Buildings
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Schmidt Dev Co Ltd
Entity
Free & Clear · 18 yrs held
Mailing address
16435 N SCOTTSDALE RD STE #320, SCOTTSDALE, AZ 85254-1694
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2008
$4,700
Schmidt Dev Co Ltd
Nnn Healthcare Of Office Reit Mar
Quit Claim Deed
related
—
Aug 15, 2007
$11,600,000
Nnn Healthcare Of Office Reit Mar
515 Partners LLC
Warranty Deed
—
Sep 10, 1999
—
515 Partners LLC
Schmidt Development Co Ltd
Trustees Deed
$5,914,653 · Keybank Nat'l Assn/edgewood
—
—
Sd&j Realty INC
—
Deed Of Trust
related
$925,000 · Wheeling National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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