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    75 West 3Rd Ave Columbus, OH 43201
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    75 West 3Rd Ave Columbus, OH 43201

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    • Office buildings
    • 2,903 SF
    • 0.16 lot acres
    For Sale
    $750,000
    View Listing →
    Victorian Village Remodeled Office Building For Sale
    $750,000
    2,973 SF

    Victorian Village Remodeled Office Building

    Historic 2,973 SF office building in Victorian Village.

    75 West 3rd Avenue, Columbus, OH 43201
    View Listing
    Property ID
    US66-2251730
    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.
    Value Estimations
    Cap Rate Potential
    6%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 75 West 3Rd Ave

    Year built
    1890
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    2,903 SF
    Property type
    Office buildings
    APN
    010-003629
    APU
    10003629

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000
      ML approach
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $595,000
      6.5%
      $550,000
      7%
      $510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $642,000
      Market price range: $219k - $642k
      AI Estimate
      $541,000
      Market price range: $198k - $542k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $415,000
      Current use
      COMMERCIAL (GENERAL)
      $470,000
      Change: +13% Conversion: Easy
      AUTO REPAIR, GARAGE
      $460,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $390,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.007
    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
    $14,983
    $47,920
    $157,190
    $205,110
    -
    $136,900
    $449,100
    $586,000

    Comparable in this City

    • Value Estimation
      $10,915,000
      54,811 SF

      28 32nd 14th Ave

      OFFICE BUILDING (MULTI-STORY) • 54,811 SF
      28 32nd 14th Ave, Columbus, OH 43201
      View Details
    • Value Estimation
      $880,000
      4,410 SF

      18-24 17th Ave

      OFFICE BUILDING • 4,410 SF
      18-24 17th Ave, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.22 Acres

      1112 Cleveland Ave

      OFFICE BUILDING • 0.22 Acres
      1112 Cleveland Ave, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.08 Acres

      158-160 Harrison Ave

      OFFICE BUILDING • 0.08 Acres
      158-160 Harrison Ave, Columbus, OH 43201
      View Details
    • Value Estimation
      $6,245,000
      65,172 SF

      345 5th Ave

      OFFICE BUILDING • 65,172 SF
      345 5th Ave, Columbus, OH 43201-2819
      View Details
    • Value Estimation by Request
      0.14 Acres

      38 5th Ave

      OFFICE BUILDING • 0.14 Acres
      38 5th Ave, Columbus, OH 43201
      View Details

    Similar Nearby for Sale

    • $750,000

      Victorian Village Remodeled Office Building

      Historic 2,973 SF office building in Victorian Village.
      75 West 3Rd Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      2,946 SF

      Victorian Village Free-Standing Office

      Renovated 2,946 SF office in Victorian Village.
      37 W 2Nd Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      11,849 SF

      Columbus Office Building For Sale

      3,950 SF office space near Short North Arts District.
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    • Contact for pricing

      Columbus Industrial Units with Flexibility

      Industrial units with office space, suitable for diverse business operations.
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    • Contact for pricing
      8,126 SF

      Columbus Industrial Space with Offices

      8,126 SF industrial space with offices and secured parking.
      771 Saint Clair Ave, Columbus, OH 43201
      View Details
    • $3,500,000
      30,746 SF

      Renovated Flex Building in Columbus

      31,656 SF renovated flex building near Downtown Columbus.
      1025 E 5Th Ave, Columbus, OH 43201
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr

      High-Visibility Retail in Short North

      Prime retail space in Columbus's Short North Arts District.
      1000-1026 N High St, Columbus, OH 43201
      View Details
    • Contact for pricing
      10,400 SF

      Columbus Office/Warehouse Investment Opportunity

      Multi-tenant office/warehouse building near downtown Columbus for sale.
      1150-1180 Corrugated Way, Columbus, OH 43201
      View Details
    • Contact for pricing

      Newly Redeveloped Office Suites

      Dynamic office suites with industrial finishes and natural light.
      1086 N 4Th St, Columbus, OH 43201
      View Details
    • Contact for pricing

      Office Space in Italian Village

      Build-to-suit office space in a prime Columbus location.
      350 E 1St Ave, Columbus, OH 43201
      View Details
    • Contact for pricing

      Flexible Workspace Solutions Available

      Global network of workspaces with tailored options for various needs.
      350 E 1St Ave, Columbus, OH 43201
      View Details
    • New
      Contact for pricing

      OH, Columbus - Boltworks Bldg.

      Discover many ways to work your way in OH, Columbus - Boltworks Bldg.
      350 1 Ave 1Rst, Columbus, OH 43201
      View Details
    View Listing
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    75 West 3Rd Ave
    Columbus, OH 43201
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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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