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

    232 Parsons Ave Columbus, OH 43215

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,250,000

    Approximately 6.5 acres of commercial land for sale.

    Lot size:
    6.54 Acres

    Property Features for 232 Parsons Ave

    General Information

    Lot size
    6.54 Acres

    We can help!

    Listing Contact
    Noah Kahkonen
    Source: Moodyscre

    Listing Agent: Noah Kahkonen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land on South Parsons Avenue

    This property features approximately 6.5 acres of land. It is currently zoned LM, which allows for a variety of uses including office, retail, manufacturing, and storage development. The property is located in a Qualified Census Tract and presents a potential multifamily rezoning opportunity. Situated on South Parsons Avenue, the location benefits from high traffic, with an average of 10,372 cars per day.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.980828
    Latitude
    39.9593296

    Nearby Similar for Sale

    • New
      $269,000
      0.15 Acres

      Historic Brick Duplex in Columbus

      Four-bedroom duplex in Old Oaks neighborhood, sold as-is.
      631-633 S Champion Ave, Columbus, OH 43205
      View Details
    • $217,500
      0.15 Acres

      Columbus Duplex with Renovation Potential

      2,340 sq ft duplex in Mt. Vernon neighborhood.
      515-517 N Champion Ave, Columbus, OH 43203
      View Details
    • New
      $750,000
      Pending

      Updated Duplex Near Children's Hospital

      Updated duplex with modern finishes, ideal for investors or owner-occupants.
      240-242 S 18Th St, Columbus, OH 43205
      View Details
    • New
      $422,500
      0.18 Acres

      Renovated Duplex with Ranch Unit

      Updated duplex featuring a ranch unit and a two-story unit.
      Columbus, OH 43231
      View Details
    • New
      $1,589,000
      4,536 SF

      Unique Short Term Rental Property

      Unique short-term rental property with high income potential near downtown Columbus.
      43-45 W Markison Ave, Columbus, OH 43207
      View Details
    • New
      $715,000
      0.22 Acres

      Columbus Multi-Family Investment Opportunity

      Multi-unit property near Ohio State University with income potential.
      1810 Ashland Ave, Columbus, OH 43212
      View Details
    • $578,000
      3,240 SF

      Minerva Park Office Building

      Two-story office building in Minerva Park with dual-use flexibility.
      2505 Woodley Rd, Columbus, OH 43231
      View Details
    • $299,900
      0.12 Acres

      Updated Duplex in Historic Franklinton

      Updated duplex with modern comfort and classic character in Franklinton.
      91-93 N Central Ave, Columbus, OH 43222
      View Details
    • $335,000
      0.10 Acres

      Turnkey Triplex in Columbus, OH

      Fully updated triplex with three units, vacant at possession.
      173 Brehl Ave, Columbus, OH 43222
      View Details
    • $365,000
      3,800 SF

      Renovated Two-Unit Home in Columbus

      Fully renovated 6 bed, 6 bath duplex with high-end finishes.
      107 Midland Ave, Columbus, OH 43223
      View Details
    • $1,300,000
      0.14 Acres

      Dennison Place Multifamily Investment Opportunity

      Stunning duplex in a prime central location near OSU.
      422-420 W 6Th Ave, Columbus, OH 43201
      View Details
    • $515,000
      0.11 Acres

      Columbus Duplex with Tax Abatement

      Large brick duplex with updates, tax abatement, and parking.
      163-165 N 18Th St, Columbus, OH 43203
      View Details

    FAQs

    What type of property is this?
    Land - Approximately 6.5 acres of commercial land for sale.
    Where is this land located?
    The property is located at 232 Parsons Ave Columbus, OH.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Approximately +/- 6.5 acres of land; - Current LM zoning allows for office, retail, manufacturing, and storage development; - Located on S Parsons Ave with high traffic volume (10,372 cars per day)
    (614) 559-3350
    Request Owner's contact information
    232 Parsons Ave Columbus, OH 43215
    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.
    232 Parsons Ave
    Columbus, OH 43215
    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
    232 Parsons Ave Columbus, OH 43215
    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

    We can help!
    Listing Contact
    Noah Kahkonen
    (614) 559-3350
    Learn more
    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.