538 Town StColumbus, OH 43215

Property Details for 538 Town St

Year built

1957

Construction

WOOD

Lot size

0.36 AC

Property size (Sq ft)

15,412 SF

Property type

Office buildings

APN

010-052069

APU

10052069

Description

This stunning, historically significant office building at 538 E Town Street in Columbus, Ohio, presents a unique investment opportunity. The property, listed on the National Historical Registry, offers 18,494 square feet of space across three stories, plus additional attached structures. Built in 1957, the main building features beautiful original millwork and is currently gutted, ready for complete renovation and customization to suit a variety of commercial uses. The property includes a three-story main building with an elevator, a one-story attached industrial-style brick structure with high ceilings and a private entrance, and a two-story attached space with a first-floor private entrance and an upstairs loft office unit currently under lease. The lot size is 16,117.2 square feet, offering ample space, including off-street parking in the front and a private parking lot in the rear. Located on a quiet, tree-lined street just east of downtown Columbus, this property offers excellent visibility and accessibility. The asking price is $1,000,000, with a price per square foot of $54.07. The property is currently zoned commercial and presents a rare chance to acquire a landmark building with significant potential for redevelopment. The existing lease on the loft office unit provides immediate income potential. This is a truly exceptional opportunity to own a piece of Columbus history and create a thriving commercial space. The property's size, location, and historical significance make it an ideal investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $2,945,046

  6.5%

  $2,718,504

  7%

  $2,524,325

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,441,638

  Geo Method

  $1,441,638

• Alternative Use

  Use

  Valuation

  Residential

  $3,370,944

  Hospitality

  $3,087,767

  Educational

  $2,568,986

  Medical

  $2,657,337

  Retail

  $3,996,200

Location Insight

City

Columbus

County

Franklin

State

Ohio

Latitude

39.9608

Longitude

-82.9856

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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