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    Four-Unit Quadplex with Four-Car Garage Title is generated by Realmo AI

    250 South 18th Street Unit 248, Columbus, OH 43205

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    For Sale
    $669,999

    Four-unit property with renovated kitchens, updated baths, and an oversized four-car garage for flexible rental or owner-occupant use.

    Type:Multi-Family / Apartment
    Property size:
    4,578 SF
    Price / SF:
    $146/SF
    Added:
    May 28, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 2:10 am

    Property Features for 250 South 18th Street Unit 248

    General Information

    Standard status
    Active
    Size
    4,578 SF
    Property subtype
    Multi-Family / Apartment

    Building Details

    Year Built
    1904

    We can help!

    Listing Contact
    Sheryl A Reitter

    Listing agent Sheryl A Reitter License #2009004313

    Listing office Investor Broker Realty

    Listing date May 28, 2026

    Source Compass

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

    All listing content including descriptions, pricing, images are the copyrighted material of Investor Broker Realty

    HighLights

    • 4‑unit property built in 1904 with updated interior features including central air and forced‑air gas heat
    • Oversized 4‑car garage plus updated kitchens and new or updated bathrooms across all four units
    • Rental history: two 3BD/1BA units previously rented for $2,250 each
    • Rental history: one 2BD/1BA unit previously rented for $1,550
    • Rental history: one 1BD + den/1BA unit previously rented for $1,575 prior to renovations; 3 units are currently vacant
    • Previously rented unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom + den floorplans

    Overview

    This massive four-unit quadplex offers four separate residences with open-concept floor plans, soaring ceilings, and abundant natural light. Each unit includes new designer kitchens, along with new or updated bathrooms. The property also features an oversized four-car garage, providing convenient off-street parking and added storage value.

    Located in the heart of Old Town East, the building is positioned within a walkable area that includes downtown, the Conservatory, and numerous shops and restaurants. The remarks also indicate proximity to the Children’s Hospital campus.

    The current unit mix includes two 3-bedroom, 1-bath units, one 2-bedroom, 1-bath unit, and one large 1-bedroom plus den with 1 bath. Per the information provided, three units are vacant for a new owner, and prior to renovation the property had been rented at $2,250 for the two 3-bedroom units, $1,550 for the 2-bedroom unit, and $1,575 for the 1-bedroom + den unit. The layout may support an owner-occupant strategy while collecting rent from the remaining units. The remarks also note potential to divide the lot into two or add additional units, subject to approvals.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $59.9k $13.08
    − Vacancy −$4.2k −$0.92
    EGI $55.7k $12.16
    − OpEx −$16.7k −$3.65
    NOI $39.0k $8.52
    4,578 SF · lease $13.08/SF/yr · vacancy 7.00% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $556.9K
    $487.3K – $649.7K (±1% cap)
    NOI $38,982 @ 7.0% cap · market cap 5.82%
    Second Best
    Apartment 5plus
    $448.0K
    $392.0K – $522.6K (±1% cap)
    NOI $31,358 @ 7.0% cap · market cap 4.68%
    Theoretical Best
    Office A
    $954.1K
    $834.8K – $1.11M (±1% cap)
    NOI $66,785 @ 7.0% cap · market cap 9.97%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9756243
    Latitude
    39.9597144

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    FAQs

    What type of property is this?
    Quadplex - Four-unit property with renovated kitchens, updated baths, and an oversized four-car garage for flexible rental or owner-occupant use.
    Where is this quadplex located?
    The property is located at 250 South 18th Street Unit 248 Columbus, OH.
    What is the asking price?
    The asking price for this property is $669,999.
    What are key features of this property?
    This property features: 4‑unit property built in 1904 with updated interior features including central air and forced‑air gas heat; Oversized 4‑car garage plus updated kitchens and new or updated bathrooms across all four units; Rental history: two 3BD/1BA units previously rented for $2,250 each
    (614) 296-4321
    We can help!
    Listing Contact
    Sheryl A Reitter
    Real Estate License ID: 2009004313
    Learn More
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    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.

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