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

    5815 Westbourne Ave Columbus, OH 43213-1459

    • Office Properties & Spaces
    • 6,000 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    May 20, 2025
    $905,000
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    8.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US66-2245978
    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

    • BERNARD JOHN PALMA / General Practitioner / Family Practice Physician
    • Robert Richards / Internist / Practitioner Service Location
    • Dr. Steven Cox / Practitioner Service Location / Surgeon
    • BrightView / Addiction Treatment Center / Alcoholism Treatment Program

    Property Details for 5815 Westbourne Ave

    Year built
    1997
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    6,000 SF
    Property type
    Office Properties & Spaces
    APN
    010-254103
    APU
    10254103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $855,000
      ML approach
      $790,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,230,000
      6.5%
      $1,140,000
      7%
      $1,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,055,000
      Market price range: $467k - $1.17M
      AI Estimate
      $1,050,000
      Market price range: $246k - $1.32M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $820,000
      Current use
      RESTAURANT
      $1,370,000
      Change: +67% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $950,000
      Change: +16% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $870,000
      Change: +6% Conversion: Easy
      MEDICAL BUILDING
      $810,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8452
    Latitude
    39.9837
    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
    $19,349
    $38,500
    $226,380
    $264,880
    -
    $110,000
    $646,800
    $756,800

    Comparable in this City

    • Value Estimation by Request
      42,785 SF

      6096-6100 Main St

      Medical offices • 42,785 SF
      6096-6100 Main St, Columbus, OH 43213
      View Details
    • Value Estimation by Request
      108,256 SF

      4632 Main St

      Office space • 108,256 SF
      4632 Main St, Whitehall, OH 43213
      View Details
    • Value Estimation by Request
      75,019 SF

      5965 Broad St

      Medical offices • 75,019 SF
      5965 Broad St, Columbus, OH 43213
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    • Value Estimation by Request
      17,506 SF

      5320 Main St

      Office Properties & Spaces • 17,506 SF
      5320 Main St, Whitehall, OH 43213
      View Details
    • Value Estimation
      $580,000
      3,157 SF

      5350 Main St, Unit 2

      CONDOMINIUM OFFICES • 3,157 SF
      5350 Main St, Columbus, OH 43213-2542
      View Details
    • Value Estimation
      $670,000
      5,980 SF

      4579 Poth Rd

      CONDOMINIUM OFFICES • 5,980 SF
      4579 Poth Rd, Columbus, OH 43213-1327
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      108,256 SF

      Freestanding Building at Rose's Center

      Located at a busy, heavily-trafficked intersection, ideal for retail.
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    • Contact for pricing
      4,500 SF

      Freestanding Retail/Office Building

      4,500 SF building in Whitehall Main Street District.
      4214 E Main St, Columbus, OH 43213
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    • Contact for pricing
      66,270 SF

      Medical Office Building Near Hospital

      Class A medical office building near Mount Carmel East Hospital.
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    • $850,000
      4,850 SF

      Freestanding Office Building on Corner Lot

      Single-tenant office building on 1-acre corner lot with high visibility.
      698 Morrison Rd, Columbus, OH 43213
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    • Contact for pricing
      4,500 SF

      Freestanding Building on Corner Lot

      4,500 SF retail/office space in Whitehall Main Street District.
      4214 E Main St, Columbus, OH 43213
      View Details
    • $2,150,000
      10,490 SF

      Columbus Medical Office Building For Sale

      Single-story medical office building with two suites and ample parking.
      6503 E Broad St, Columbus, OH 43213
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      1,256 SF

      Yearling Road Office Space For Lease

      Whitehall Office: 1256 sq ft, $1000/month NNN
      746 Yearling Rd, Columbus, OH 43213
      View Details
    • $14 SF/Yr
      15,254 SF

      Whitehall Office Space Available

      Prime Whitehall Office, Flexible Suites
      5150 Main St, Whitehall, OH 43213
      View Details
    • $0.56 SF/Yr
      16,464 SF

      Prime Whitehall Office Space

      16,464 SF Single-Tenant Office
      5300 Main St, Whitehall, OH 43213
      View Details
    • $15 SF/Yr
      10,490 SF

      Medical Office Space Available

      Medical office space for lease near Mount Carmel East.
      6503 E Broad St, Columbus, OH 43213
      View Details
    • $10 SF/Yr
      10,431 SF

      Freestanding Building on Main Street

      10,431 SF building ideal for retail or office use.
      4634-4638 E Main St, Columbus, OH 43213
      View Details
    • $13 SF/Yr
      508 SF

      Columbus Office Space For Rent

      Office space available for lease in Columbus, Ohio.
      6096 E Main St, Columbus, OH 43213
      View Details
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    5815 Westbourne Ave
    Columbus, OH 43213-1459
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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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