Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    55-59 Spg St Columbus, OH 43215

    • Retail space
    • 18,048 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $1,630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1056199
    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

    • Retail space

    Property Details for 55-59 Spg St

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.14 lot acres
    Property size
    18,048 SF
    Property type
    Retail space
    APN
    010-042775
    APU
    10042775

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,741,000
      Market price range: $933k - $3.11M
      AI Estimate
      $1,081,000
      Market price range: $571k - $1.96M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,935,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,615,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $2,555,000
      Change: +32% Conversion: Easy
      MEDICAL BUILDING
      $2,435,000
      Change: +26% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,125,000
      Change: +10% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,950,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9997
    Latitude
    39.9661
    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
    $41,850
    $156,660
    $385,490
    $542,150
    -
    $447,600
    $1,101,400
    $1,549,000

    Comparable in this City

    • Value Estimation by Request
      8,350 SF

      162 6th St

      RETAIL STORES (PERSONAL SERVICES) • 8,350 SF
      162 6th St, Columbus, OH 43215-1812
      View Details
    • Value Estimation by Request
      2,208 SF

      62 Ml St

      RETAIL STORES (PERSONAL SERVICES) • 2,208 SF
      62 Ml St, Columbus, OH 43215
      View Details
    • Value Estimation by Request
      7,640 SF

      175 Cleveland Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,640 SF
      175 Cleveland Ave, Columbus, OH 43215-1924
      View Details
    • Value Estimation
      $3,585,000
      24,890 SF

      769 High St, Unit 793

      RETAIL STORES (PERSONAL SERVICES) • 24,890 SF
      769 High St, Columbus, OH 43215-6435
      View Details
    • Value Estimation
      $860,000
      6,993 SF

      459 High St

      RETAIL STORES (PERSONAL SERVICES) • 6,993 SF
      459 High St, Columbus, OH 43215-2007
      View Details
    • Value Estimation
      $1,430,000
      16,074 SF

      772 High St

      RETAIL STORES (PERSONAL SERVICES) • 16,074 SF
      772 High St, Columbus, OH 43215-1456
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,760 SF

      Franklinton Prieto Building For Sale

      Versatile space in Columbus' growing creative district, ideal for investment.
      68 Mcdowell St, Columbus, OH 43215
      View Details
    • $799,000
      5,104 SF

      Prime Dublin Road Storefront

      Columbus Retail Space - Vacant, 5104 SF
      1103 Dublin Rd, Columbus, OH 43215
      View Details
    • Contact for pricing
      7,500 SF

      Columbus Commercial/Retail Building Opportunity

      Updated two-story building suitable for event venue or creative office.
      17 Brickel St, Columbus, OH 43215
      View Details
    • $2,300,000
      3,005 SF

      Renovated Historic Office Building

      Three-story renovated office building with ground floor retail space.
      34 W Gay St, Columbus, OH 43215
      View Details
    • Contact for pricing

      Retail/Office Space on Long Street

      3,106 SF retail/office space with high visibility and walkable amenities.
      31 W Long St, Columbus, OH 43215
      View Details
    • Contact for pricing

      Historic Downtown Mixed-Use Building

      Landmark building with office, retail space, and upscale apartments.
      361 E Broad St, Columbus, OH 43215
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      8,000 SF

      Downtown Columbus Retail Space

      8,000 SF Retail/Office, Columbus, OH
      116-124 Long St, Columbus, OH 43215
      View Details
    • $12 SF/Yr
      107,550 SF

      Downtown Columbus Creative Office Space

      Historic building, flexible suites, prime location.
      361 Broad St, Columbus, OH 43215
      View Details
    • Contact for pricing
      3,117 SF

      Retail Space in Creekside Plaza

      Retail space available in a mixed-use development.
      81 Mill St, Gahanna, OH 43215
      View Details
    • Contact for pricing
      2,681 SF

      Retail Space on State Street

      Retail space available for lease with 2681 square feet.
      265 East State St, Columbus, OH 43215
      View Details
    • $32 SF/Yr
      9,520 SF

      Office and Retail Space Available

      Mixed-use development with office, retail, and event space.
      555 W Goodale St, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,920 SF

      Retail Space in Mixed-Use Center

      Retail space available in high-traffic, mixed-use development.
      1072-1076 Dublin Rd, Columbus, OH 43215
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    55-59 Spg St
    Columbus, OH 43215
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!