Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2012 Lockbourne Rd Columbus, OH 43207-1462

    • Retail space
    • 9,028 SF
    • 5.49 lot acres
    OFF-MARKET
    Last Sale
    Jan 08, 2025
    $1,046,300
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0289149
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dollar General / Drug Store / Seasonal Goods Store
    • Western Union / Money Transfer Service

    Property Details for 2012 Lockbourne Rd

    Year built
    2011
    Lot size
    5.49 lot acres
    Property size
    9,028 SF
    Property type
    Retail space
    APN
    010-112279
    APU
    10112279

    Description

    This exceptional investment opportunity presents a single-tenant, net-leased Dollar General store located at 2012 Lockbourne Rd, Columbus, Ohio. The property boasts a strong 7.75% cap rate and a substantial net operating income (NOI) of $88,931. Built in 2011, this 9,002 square foot building sits on a 1.4-acre lot and enjoys 100% occupancy. The lease, originally commenced on February 24, 2011, has a remaining term of approximately two years, with four (five-year) options remaining, each including a 10% rent increase. This provides long-term stability and predictable income growth. The lease is corporate guaranteed, mitigating tenant risk. The property benefits from a high-traffic location on Lockbourne Road, experiencing over 13,500 vehicles daily, and is situated near numerous national retailers. The surrounding area demonstrates strong demographics, with a population exceeding 249,000 within a five-mile radius. This is a truly hassle-free investment opportunity with zero landlord responsibilities, making it an attractive addition to any portfolio seeking consistent returns. The property is privately owned.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9645
    Latitude
    39.9241
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $26,354
    $91,980
    $268,800
    $360,780
    -
    $262,800
    $768,000
    $1,030,800

    Comparable in this City

    • Value Estimation
      $275,000
      0.15 Acres

      1967 Lockbourne Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.15 Acres
      1967 Lockbourne Rd, Columbus, OH 43207-1460
      View Details
    • Value Estimation
      $275,000
      0.15 Acres

      1558 Parsons Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.15 Acres
      1558 Parsons Ave, Columbus, OH 43207-1252
      View Details
    • Value Estimation
      $270,000
      0.10 Acres

      1665 Parsons Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.10 Acres
      1665 Parsons Ave, Columbus, OH 43207-1218
      View Details
    • Value Estimation
      $75,000
      884 SF

      1957 Lockbourne Rd

      RETAIL STORES (PERSONAL SERVICES) • 884 SF
      1957 Lockbourne Rd, Columbus, OH 43207
      View Details
    • Value Estimation
      $240,000
      304 SF

      440 Marion Rd

      RETAIL STORES (PERSONAL SERVICES) • 304 SF
      440 Marion Rd, Columbus, OH 43207-2547
      View Details
    • Value Estimation
      $265,000
      0.11 Acres

      1635 Parsons Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      1635 Parsons Ave, Columbus, OH 43207-1218
      View Details

    Similar Nearby for Sale

    • $150,000
      649 SF

      Historical Building Near Downtown

      Affordable real estate opportunity in a desirable, growing area.
      1725 Parsons Ave, Columbus, OH 43207
      View Details
    • $1,000,000
      6,761 SF

      Retail Building on 4 Acres

      6,761 SF retail building on a 4.05-acre parcel.
      3201 S High St, Columbus, OH 43207
      View Details
    • Contact for pricing
      17,896 SF

      High-Visibility Retail Opportunity

      Divisible retail space with parking, near downtown Columbus.
      2140 S High St, Columbus, OH 43207
      View Details
    • $179,000
      880 SF

      Revitalized Retail Space on Parsons

      Renovated retail space in a dynamic, growing Columbus corridor.
      1536 Parsons Ave, Columbus, OH 43207
      View Details
    • Contact for pricing
      14,160 SF

      South High Street Retail/Flex Building

      Renovated 9,450 SF retail/flex/office building available late summer.
      1776 S High St, Columbus, OH 43207
      View Details
    • $495,000
      5,973 SF

      High Street Commercial Building

      Columbus Bar/Restaurant - 5,973 SF
      1570 High St, Columbus, OH 43207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,396 SF

      Prime Retail Space Near OSU

      Retail space in the heart of Ohio State's off-campus district.
      2020 North High St, Columbus, OH 43207
      View Details
    • $8 SF/Yr
      311,913 SF

      Great Southern Office & Retail Space

      Columbus, OH prime retail location. Multiple suites available.
      3735 High St, Columbus, OH 43207
      View Details
    • $22 SF/Yr
      3,180 SF

      Retail Space with High Visibility

      Retail space available with excellent visibility and co-tenants.
      3479-3483 S High St, Columbus, OH 43207
      View Details
    • $11 SF/Yr
      9,100 SF

      Free Standing Retail Building

      9,100 SF retail building available for immediate occupancy.
      1596 S Parsons Ave, Columbus, OH 43207
      View Details
    • Contact for pricing
      3,496 SF

      Retail Space with Drive-Through Potential

      3,496 SF retail space with high traffic and ample parking.
      4480 Alum Creek Dr, Columbus, OH 43207
      View Details
    • $1,900 /Mo
      1,866 SF

      High Street Retail/Office Space

      Versatile space in high-traffic area with on-site parking.
      3504 N High St, Columbus, OH 43207
      View Details
    Request Owner's contact information
    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.
    2012 Lockbourne Rd
    Columbus, OH 43207-1462
    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
    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

    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.