551 3Rd StColumbus, OH 43215

Property Details for 551 3Rd St

Year built

1900

Lot size

0.08 AC

Property size (Sq ft)

2,952 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

010-020794

APU

10020794

Description

This stunning 3-story, 3,749 sq ft mixed-use building in Columbus's German Village offers a rare investment opportunity. Built in 1900 and renovated in 2000, this Italianate-style property boasts incredible historic character, including iron gates, stained glass, and hand-carved double doors. The versatile floor plan is currently configured as office/commercial space on the first floor, ideal for creative services or retail, featuring a full kitchen. The second floor offers potential for short-term or long-term residential rental units, with 3 bedrooms, 3 bathrooms, bonus rooms, and a kitchenette. A large, versatile space with its own HVAC system occupies the finished third floor. The property includes 3 off-street parking spaces and sits on a 0.07-acre lot. Zoned for commercial/mixed use, this property presents a unique chance to own a piece of Columbus history. The asking price is $1,590,000, with a price per square foot of $424.11. This owner/user investment opportunity is ready for your vision.

• CAP approach

  CAP return

  Valuation

  6%

  $564,091

  6.5%

  $520,700

  7%

  $483,507

• Comparable approach

  Method

  Valuation

  Relative Method

  $276,130

  Geo Method

  $276,130

• Alternative Use

  Use

  Valuation

  Residential

  $645,668

  Hospitality

  $591,428

  Educational

  $492,061

  Medical

  $508,984

  Retail

  $765,428

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.9511

Longitude

-82.9961

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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