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

    909 Morse Rd Columbus, OH 43229-6209

    • Medical Office Space
    • 4,707 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Sep 06, 2024
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1524655
    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

    • Lakhi Rani a MD / Physician
    • Dr. Steve M. Locsey, MD / Physician
    • Dr. David A. Rath, MD / Physician
    • PrimeMD - North Urgent Care / Physician
    • Dr. Sheree L. Jones-Lopez, MD / Pediatrician / Physician

    Property Details for 909 Morse Rd

    Year built
    1979
    Lot size
    0.21 lot acres
    Property size
    4,707 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    010-103705
    APU
    10103705

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $528,000
      Market price range: $430k - $912k
      AI Estimate
      $317,000
      Market price range: $186k - $569k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $635,000
      Current use
      AUTO REPAIR, GARAGE
      $745,000
      Change: +17% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $510,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9956
    Latitude
    40.061
    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
    $12,920
    $34,130
    $142,740
    $176,870
    -
    $97,500
    $407,800
    $505,300

    Comparable in this City

    • Value Estimation by Request
      3,942 SF

      6721 Karl Rd

      MEDICAL BUILDING • 3,942 SF
      6721 Karl Rd, Columbus, OH 43229-9009
      View Details
    • Value Estimation by Request
      0.21 Acres

      Morse Rd

      MEDICAL BUILDING • 0.21 Acres
      Morse Rd, Columbus, OH 43229
      View Details
    • Value Estimation by Request
      0.21 Acres

      909 Morse Rd

      MEDICAL BUILDING • 0.21 Acres
      909 Morse Rd, Columbus, OH 43229-6209
      View Details
    • Value Estimation
      $1,105,000
      6,804 SF

      6865 Oak Crk Dr

      MEDICAL BUILDING • 6,804 SF
      6865 Oak Crk Dr, Columbus, OH 43229-1501
      View Details
    • Value Estimation
      $1,240,000
      13,490 SF

      5797 Beechcroft Rd

      MEDICAL BUILDING • 13,490 SF
      5797 Beechcroft Rd, Columbus, OH 43229-2758
      View Details
    • Value Estimation
      $750,000
      10,224 SF

      5770 Karl Rd

      MEDICAL BUILDING • 10,224 SF
      5770 Karl Rd, Columbus, OH 43229-3604
      View Details

    Similar Nearby for Sale

    • $1,825,000
      17,342 SF

      Worthington Flex Building Opportunity

      17,342 SF flex building with office and warehouse space.
      1021 Checkrein Ave, Columbus, OH 43229
      View Details
    • $2,600,000
      21,028 SF

      Industrial Building with Office Space

      21,028 SF industrial building with 5,000 SF of office space.
      6661 Huntley Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      28,730 SF

      Small Flex Unit Available

      1,250 SF flex unit ideal for contractors with easy access.
      6400 Huntley Rd, Columbus, OH 43229
      View Details
    • $2,600,000
      21,028 SF

      Worthington Industrial Building For Sale

      21,028 SF industrial building with office and warehouse space.
      6661 Huntley Rd, Columbus, OH 43229
      View Details
    • $738,000
      5,852 SF

      Office Condos Leased to Dental

      Three office condos with high traffic and highway access.
      1682-1730 Schrock Rd, Columbus, OH 43229
      View Details
    • Contact for pricing

      Columbus Office Building For Sale

      Office building available for purchase in Columbus, Ohio.
      1881 E Dublin Granville Rd, Columbus, OH 43229
      View Details

    Similar Nearby for Lease

    • $692 /Mo
      23,256 SF

      Renovated Office & Retail Suites

      Versatile commercial building with flexible leasing options in Columbus, OH.
      1110 Morse Rd, Columbus, OH 43229
      View Details
    • $1,350 /Mo
      23,256 SF

      Renovated Office & Retail Suites

      Versatile suites in a renovated four-story commercial building.
      1110 Morse Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      42,290 SF

      Freeway Signage Office Building

      Standalone office building with freeway signage and exposed ceilings.
      2221 Schrock Rd, Columbus, OH 43229
      View Details
    • $9 SF/Yr
      35,152 SF

      Sinclair Office Park: Columbus, OH

      Prime Columbus Office Space: 3,456 sq ft available.
      4889 Sinclair Rd, Columbus, OH 43229
      View Details
    • $275 SF/Yr
      23,256 SF

      Renovated Office & Retail Suites

      Versatile suites in a renovated four-story commercial building.
      1110 Morse Rd, Columbus, OH 43229
      View Details
    • $15 SF/Yr
      3,500 SF

      Columbus Executive Office Space

      Prime 3,500 sq ft Office in Columbus, OH
      5760 Maple Canyon Ave, Columbus, OH 43229
      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.
    909 Morse Rd
    Columbus, OH 43229-6209
    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!