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    9-11-15 Norwich Ave Columbus, OH 43201

    Sponsored
    For Sale
    $1,000,000

    Three-unit apartment building near OSU

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional three-unit apartment building, located at 9-11-15 E Norwich Avenue in Columbus, Ohio, presents a compelling investment opportunity. Built in 1915, this property sits on a 3,484.8 square foot lot and is currently generating income with all three units rented at $990 per month, leases expiring July 31st. The asking price is $1,000,000, translating to a price per square foot of $264.27. Its prime location just north of Lane Avenue, in close proximity to The Ohio State University campus, offers significant potential for future growth and development. The property is zoned commercial, providing flexibility for potential future uses. While no rezoning inquiries have been made, the location and zoning present a compelling case for exploring development options. The property is currently generating strong rental income, making it an attractive investment for both seasoned and new investors. Please note that tenants should not be disturbed. This is a rare opportunity to acquire a well-located, income-producing property with significant upside potential in a thriving Columbus neighborhood. Serious inquiries only.

    Property Features for 9-11-15 Norwich Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1915
    Units
    3

    HighLights

    • $1,000,000 asking price for this three‑unit apartment building.
    • Multifamily property with three units, classified as an apartment building/duplex/triplex/quadruplex.
    • $264.27 price per square foot.
    • Built in 1915, situated on a 3,484.8 sq ft lot.
    • Located at 9‑11‑15 E Norwich Avenue, Columbus, OH 43201, near Ohio State University.
    • Currently fully occupied with leases expiring July 31st, generating $990/month per unit in rental income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0083104
    Latitude
    40.0071064

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit apartment building near OSU
    Where is this multifamily property located?
    The property is located at 9-11-15 Norwich Ave Columbus, OH.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: $1,000,000 asking price for this three-unit apartment building.; Multifamily property with three units, classified as an apartment building/duplex/triplex/quadruplex.; $264.27 price per square foot.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    9-11-15 Norwich Ave Columbus, OH 43201
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