50 5Th AveColumbus, OH 43201

Property Details for 50 5Th Ave

Year built

1901

Construction

WOOD

Lot size

0.27 AC

Property size (Sq ft)

15,971 SF

Property type

Office properties

Property subtype

Office buildings

APN

010-066962

APU

10066962

Description

This exceptional 15,971 square foot commercial office building, located at 50 West 5th Avenue in Columbus, Ohio, presents a unique investment opportunity. Built in 1901 and renovated in 2009, this two-story Class C building sits on a 0.27-acre lot and boasts a prime location in the Short North submarket, close to Victorian Village, Italian Village, and the Ohio State University campus. The property features two vacant, 700 square foot suites on the ground floor, each including a reception area, meeting room, one to two private offices, and a restroom. Shared amenities include a large kitchen, conference room, and a visitor's restroom. The building is situated on West Fifth Avenue, near North High Street, offering excellent visibility and accessibility. The property is zoned C4, ORIG, Commercial, and its APN is 010-066962-00. This is an ideal opportunity for businesses seeking a well-maintained, historically significant building in a vibrant and desirable location. The building's multiple tenancy allows for flexibility and potential for future expansion. The property's proximity to major attractions and the university makes it an attractive location for a variety of businesses. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving Columbus neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $3,051,864

  6.5%

  $2,817,105

  7%

  $2,615,883

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,493,927

  Geo Method

  $1,493,927

• Alternative Use

  Use

  Valuation

  Residential

  $3,493,210

  Hospitality

  $3,199,762

  Educational

  $2,662,164

  Medical

  $2,753,720

  Retail

  $4,141,144

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.9874

Longitude

-83.0068

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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