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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Drug stores
5445 High St Columbus, OH 43214-1129
Entity Owned
7-yr Hold
Free & Clear
Property ID
US66-1675609
Property summary
AI-generated overview
This exceptional redevelopment opportunity presents a 11,285 square foot former CVS Pharmacy building located at 5445 N High St, Columbus, Ohio 43214, in Franklin County. The property, built in 1997, is currently vacant ("dark") but benefits from a long-term leaseback agreement with CVS Pharmacy, extending until November 30, 2038. This lease provides a stable income stream with a current Net Operating Income (NOI) of $196,000 and a 5.30% capitalization rate, based on an asking price of $3,700,000. The single-story building offers significant potential for redevelopment into a variety of commercial uses, capitalizing on its prime location in a growing area of Columbus. The property's size and strategic location make it an attractive investment for those seeking both immediate return and long-term growth potential. This is a rare chance to acquire a well-situated property with a secure income stream and substantial upside for future development. The property is offered for sale with a leaseback agreement in place.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1997
Total area
11,285 SF
Lot
2.26 ac (98,620 SF)
APN
010-126687
UPID
US66-1675609
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
-
CVS Photo (Bike/Boat/Book/etc) Store Printing Service
-
MoneyGram Bank Credit Union
-
Coinhub Bitcoin ATM Teller Atm
-
LibertyX Bitcoin ATM Atm
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.37M
Owner & transaction history
High Street Drugstore LLC · 7 yrs held
High Street Drugstore LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+47.8%
Apartment house (5+ units)
$1.6M
+35.1%
Medical building
$1.5M
+25.8%
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
RETAIL STORES
$1,210,000
Current use
AUTO REPAIR, GARAGE
$1,790,000
Change: +48% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,635,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$1,525,000
Change: +26% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,220,000
Change: +1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,095,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±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
$121 / 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
$59,408
Tax year 2023
Assessed value
$813,270
Assessed 2023
Previous assessed
$1,293,120
-37.1% YoY
Effective rate
7.30%
On assessed value
Assessed land
$580,200
Assessed improvement
$233,070
Land market value
$1,657,700
Improvement market value
$665,900
Total market value
$2,323,600
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1997
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
11,285 SF
Lot
2.26 ac (98,620 SF)
APN
010-126687
UPID
US66-1675609
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
RETAIL STORES Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1997
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
2.26 ac
Current owner
From public records · entity-resolved
High Street Drugstore LLC
Entity
Free & Clear · 7 yrs held
Mailing address
2663 SW 181ST TER, MIRAMAR, FL 33029-5197
Ownership since
2019
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
Feb 13, 2019
$3,694,600
High Street Drugstore LLC
5445 N High Street Owner LLC
Grant Deed
—
Nov 30, 2018
$4,600,000
5445 N High Street Owner LLC
Fine Foundation
Trustees Deed
$7,600,000 · Oh Triple Net Lender LLC
Oct 11, 2018
—
Fine Foundation
Fine-rite LP
Quit Claim Deed
—
Sep 17, 1997
$2,850,000
Fine-rite LP
Rite Aid Of Ohio INC
Grant Deed
related
$2,743,122 · Legg Mason Real Estate Svcs
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.
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