Sign Up Successful!
You now have access to more from Realmo!
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

    8800 Lyra Dr Columbus, OH 43240

    • Office buildings
    • 163,358 SF
    • 9.98 lot acres
    For Lease
    View listing
    $11 SF/Yr
    Last Sale
    May 21, 2025
    Value Estimations
    $700,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1421763
    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

    • Carol J. Huber - Realtor, Coldwell Banker King Thompson / Real Estate Agency / Real Estate Agents
    • Barber & Hoffman Inc / Structural Engineer
    • OuterBox / Marketing Agency
    • Community Bankers Association of Ohio (CBAO) / Non-Profit Organization
    • Colliers International | Greater Columbus Region / Real Estate Agency / Property Management Company

    Property Details for 8800 Lyra Dr

    Year built
    1999
    Lot size
    9.98 lot acres
    Property size
    163,358 SF
    Property type
    Office buildings
    APN
    318-434-01-025-000
    APU
    31843401025000

    Description

    8800 Lyra Drive offers exceptional executive office space in Columbus, Ohio's Polaris submarket. This Class B, six-story building, constructed in 1999, boasts a total of 162,000 square feet. Multiple tenancy options are available, with spaces ranging from a minimum of 5,698 square feet to a maximum contiguous space of 28,360 square feet. Currently, 56,154 square feet are vacant, presenting a significant opportunity for businesses seeking modern, efficient office accommodations. The building features ample parking with a ratio of 5 spaces per 1000 square feet, ensuring convenient access for employees and clients. High-speed elevators efficiently service all six floors. The building's common area factor is 13%. This location provides easy access to major transportation routes and amenities within the thriving Polaris area of Columbus. The property is ideal for companies seeking flexible and well-appointed office space in a desirable business environment. Inquire today to learn more about the available suites and customize your ideal workspace within this impressive Columbus office building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $700,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9736
    Latitude
    40.1445
    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
    $436,044
    $1,005,480
    $5,419,120
    $6,424,600
    -
    $2,872,800
    $15,483,200
    $18,356,000

    Comparable in this City

    • Value Estimation
      $495,000
      9,242 SF

      9000 Antares Ave

      OFFICE BUILDING • 9,242 SF
      9000 Antares Ave, Columbus, OH 43240-2011
      View Details
    • Value Estimation
      $765,000
      21,338 SF

      1070 Polaris Pkwy

      OFFICE BUILDING • 21,338 SF
      1070 Polaris Pkwy, Columbus, OH 43240-4038
      View Details
    • Value Estimation
      $4,555,000
      57,454 SF

      2000 Polaris Pkwy

      OFFICE BUILDING • 57,454 SF
      2000 Polaris Pkwy, Columbus, OH 43240-2108
      View Details
    • Value Estimation
      $295,000
      43.28 Acres

      Lazelle Rd

      OFFICE BUILDING (MULTI-STORY) • 43.28 Acres
      Lazelle Rd, Columbus, OH 43240
      View Details
    • Value Estimation
      $590,000
      170,317 SF

      8787 Orion Pl

      OFFICE BUILDING • 170,317 SF
      8787 Orion Pl, Columbus, OH 43240-4027
      View Details
    • Value Estimation
      $740,000
      57,594 SF

      8720 Orion Pl

      OFFICE BUILDING • 57,594 SF
      8720 Orion Pl, Columbus, OH 43240-2111
      View Details

    Similar Nearby for Sale

    • $1,025,000
      5,130 SF

      Polaris Area Flex/Retail/Office Building

      5,130 SF building ideal for flex, office, or retail.
      9015 Antares Ave, Columbus, OH 43240
      View Details
    • $8,000,000
      72,588 SF

      Move-in Ready Office Building

      Ready for occupancy office building with high parking ratio.
      1000 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $900,000
      1 SF

      Polaris Fashion Place Retail Pad

      Prime 1.62-acre retail lot near Polaris Fashion Place.
      1292 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $7,145,000

      Retail Property on Polaris Parkway

      Retail property for sale on Polaris Parkway in Columbus, OH.
      1200 Polaris Pkwy, Columbus, OH 43240
      View Details
    • Contact for pricing
      69,662 SF

      Polaris Area Retail Opportunity

      Retail property in the Polaris area of Columbus, Ohio.
      1551 Gemini Pl, Columbus, OH 43240
      View Details
    • $6,995,000

      7.76± Acres Prime Land

      Land for sale near I-71 and Polaris Parkway.
      8350 Lyra Dr, Columbus, OH 43240
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      5,347 SF

      Class A Office Space Available

      Four-story Class A office buildings near Polaris I-71 Interchange.
      8425 Pulsar Pl, Columbus, OH 43240
      View Details
    • $3,382,000
      11,565 SF

      Polaris Parkway Office Opportunity

      Office building with frontage, visibility, and renovated common areas.
      999 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $11 SF/Yr
      8,561 SF

      Polaris Parkway Office Space

      Columbus, OH Executive Suites Available
      1070 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $20 SF/Yr
      4,841 SF

      Visible Office Space Near Polaris

      Highly visible office space with easy access to Polaris Parkway.
      8999 Gemini Pkwy, Columbus, OH 43240
      View Details
    • $15 SF/Yr
      21,921 SF

      Penthouse Office Suite in Polaris

      Premium penthouse office suite in the desirable Polaris area.
      9039 Antares Ave, Columbus, OH 43240
      View Details
    • $12 SF/Yr
      28,947 SF

      Prime Polaris Executive Office Space

      Columbus Office Building - 28,947 SF Available
      8760 Orion Pl, Columbus, OH 43240
      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.
    8800 Lyra Dr
    Columbus, OH 43240
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.