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    Property profile & analytics

    5588 High St Columbus, OH 43085

    • Strip malls
    • 7,680 SF
    • 0.56 lot acres
    For Lease
    View listing
    Last Sale
    Oct 06, 2020
    $2,225,000
    Value Estimations
    $2,300,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2096713
    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

    • Strip malls

    Property Details for 5588 High St

    Year built
    1953
    Construction
    WOOD
    Lot size
    0.56 lot acres
    Property size
    7,680 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    010-101167
    APU
    10101167

    Description

    This Columbus, Ohio office space, located at 5588 N High St, zip code 43085, offers 2,410 square feet of immediately available space in a 14,419 square foot building. The property, renovated in 2023, is ideally situated between the Worthington and Clintonville neighborhoods at a signalized intersection, ensuring excellent visibility and signage opportunities. The building is versatile, suitable for traditional office, creative office, medical office, or coworking uses, and is currently configured for multiple tenants. Ample parking is available with over 90 spaces. The minimum divisible space is 2,410 square feet, and the maximum contiguous space available is also 2,410 square feet. This retail and office space presents a unique opportunity for businesses seeking a high-traffic location with strong visibility and convenient access. The property's modern amenities and prime location make it an attractive option for a variety of businesses. The building's recent renovation ensures modern and updated facilities. This is a rare opportunity to secure a well-located and versatile office space in a thriving Columbus neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,415,000
      ML approach
      $2,345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,715,000
      6.5%
      $1,580,000
      7%
      $1,470,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,750,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Worthington
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0184
    Latitude
    40.0767
    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
    $14,515
    $127,720
    $70,980
    $198,700
    -
    $364,900
    $202,800
    $567,700

    Comparable in this City

    • Value Estimation
      $9,140,000
      83,382 SF

      1357 1425th Worthngton Ctr Dr

      SHOPPING CENTER, STRIP CENTER • 83,382 SF
      1357 1425th Worthngton Ctr Dr, Columbus, OH 43085
      View Details
    • Value Estimation by Request
      0.29 Acres

      Linworth Rd

      SHOPPING CENTER, STRIP CENTER • 0.29 Acres
      Linworth Rd, Worthington, OH 43085
      View Details
    • Value Estimation by Request
      0.05 Acres

      Dublin Granville Rd

      SHOPPING CENTER, STRIP CENTER • 0.05 Acres
      Dublin Granville Rd, Worthington, OH 43085
      View Details
    • Value Estimation
      $2,305,000
      8,636 SF

      5596 High St, Unit 5602

      SHOPPING CENTER, STRIP CENTER • 8,636 SF
      5596 High St, Worthington, OH 43085-3915
      View Details
    • Value Estimation
      $1,170,000
      9,958 SF

      1333 Worthington Ctr Dr, Unit 1353

      SHOPPING CENTER, STRIP CENTER • 9,958 SF
      1333 Worthington Ctr Dr, Columbus, OH 43085-4901
      View Details
    • Value Estimation by Request
      4,474 SF

      451-455 Wilson Brg Rd

      SHOPPING CENTER, STRIP CENTER • 4,474 SF
      451-455 Wilson Brg Rd, Worthington, OH 43085
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      51,654 SF

      Mixed-Use Development in Worthington

      7.5-acre mixed-use development with office, retail, and restaurant space.
      121 W Wilson Bridge Rd, Columbus, OH 43085
      View Details
    • Contact for pricing
      51,654 SF

      Mixed-Use Development in Worthington Gateway

      7.5-acre mixed-use development with office, retail, and restaurant space.
      121 W Wilson Bridge Rd, Columbus, OH 43085
      View Details
    • $950,000
      5,011 SF

      Versatile Worthington Retail/Office Building

      Two-story building with open floor plan and ample parking.
      1020 High St, Columbus, OH 43085
      View Details
    • $3,000,000
      8,693 SF

      Historic German Village Commercial Property

      Prime commercial property in Columbus's historic German Village.
      543 S High St, Columbus, OH 43085
      View Details
    • $950,000
      5,011 SF

      Versatile Worthington Retail/Office Building

      Two-story building with open floor plan and on-site parking.
      1020 High St, Columbus, OH 43085
      View Details
    • $600,000
      2,720 SF

      Turnkey Restaurant Near German Village

      2,720 SF fully equipped bar/restaurant for sale.
      562 S High St, Columbus, OH 43085
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      41,803 SF

      Linworth Crossing Retail Space

      Worthington, Ohio: Prime Retail Opportunity
      2245-2285 Dublin Granville Rd, Worthington, OH 43085
      View Details
    • Contact for pricing
      2,936 SF

      Retail Space in Prime Location

      Class A shopping center with retail and restaurant space.
      2285 W Dublin Granville Rd, Columbus, OH 43085
      View Details
    • Contact for pricing
      1,342 SF

      Retail and Restaurant Space Available

      Class A shopping center with retail and restaurant spaces.
      2245-2285 W Dublin Granville Rd, Columbus, OH 43085
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Worthington Centre

      Retail space available in well-located shopping center.
      1333-1425 Worthington Centre Dr, Columbus, OH 43085
      View Details
    • Contact for pricing
      3,800 SF

      Retail Space on High Street

      Retail space available for lease in Columbus, Ohio.
      5617 North High St, Columbus, OH 43085
      View Details
    • $1,500 /Mo
      2,700 SF

      Retail Space in Columbus, OH

      Retail property available for lease in Columbus, Ohio.
      7540 Pingue Dr, Columbus, OH 43085
      View Details
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    Columbus, OH 43085
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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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