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    Property profile & analytics

    1030 Freeway Dr Columbus, OH 43229

    • Warehouses
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1030 Freeway Dr

    Year built
    1970
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 43,200-square-foot warehouse, located at 1030 Freeway Dr N, Columbus, OH 43229, within the Freeway Business Park, offers a prime location in Northeast Columbus. Built in 1970 and extensively renovated in 2024, this single-tenant industrial space boasts a 19-21 foot ceiling height, ideal for various storage and operational needs. The property features three loading docks and three drive-in doors (with drive-through capability), ensuring efficient logistics. Ample parking is available with 60 total spaces. The building includes 2,353 square feet of office space, complete with four private offices, a break room, restrooms, open workspace, sales counter, and reception area. The 1600-amp power supply supports robust operational demands. Benefit from high visibility with over 113,000 cars passing daily on I-71, providing excellent signage opportunities. Zoned M1 by the City of Columbus, this warehouse is perfectly situated for businesses seeking a strategic location in a thriving commercial corridor. This property presents a unique opportunity for growth and expansion.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9901
    Latitude
    40.0717

    Comparable in this City

    • Value Estimation by Request
      253,702 SF

      5057 Freeway Dr

      Distribution properties • 253,702 SF
      5057 Freeway Dr, Columbus, OH 43229
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    • Value Estimation
      $5,815,000
      216,160 SF

      6150 Huntley Rd

      DISTRIBUTION WAREHOUSE • 216,160 SF
      6150 Huntley Rd, Columbus, OH 43229-1000
      View Details
    • Value Estimation by Request
      4.91 Acres

      Huntley Rd

      DISTRIBUTION WAREHOUSE • 4.91 Acres
      Huntley Rd, Columbus, OH 43229
      View Details
    • Value Estimation by Request
      1.70 Acres

      Dublin Granville Rd

      MINI-WAREHOUSE, STORAGE • 1.70 Acres
      Dublin Granville Rd, Columbus, OH 43229
      View Details
    • Value Estimation
      $1,870,000
      53,560 SF

      6500 Huntley Rd

      WAREHOUSE, STORAGE • 53,560 SF
      6500 Huntley Rd, Columbus, OH 43229-1012
      View Details
    • Value Estimation
      $815,000
      24,558 SF

      7057 Huntley Rd, Unit 7067

      WAREHOUSE, STORAGE • 24,558 SF
      7057 Huntley Rd, Columbus, OH 43229-1021
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $5 SF/Yr
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      Industrial Space with Truck Parking

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      Columbus Warehouse Space Available

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      Columbus Warehouse with Office/Showroom Space

      Warehouse space featuring office/showroom, varying ceiling heights, and multiple docks.
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    • $9 SF/Yr
      21,028 SF

      Worthington Industrial Building with Office

      21,028 SF industrial building with 5,000 SF office space.
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      24,714 SF

      Office/Warehouse Space for Sublease

      Office/warehouse space for sublease with convenient highway access.
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    • $6 SF/Yr
      19,200 SF

      Columbus Office/Warehouse Sublease Opportunity

      Office/warehouse space available for sublease in Columbus, Ohio.
      990-1030 Freeway Dr N, Columbus, OH 43229
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    1030 Freeway Dr
    Columbus, OH 43229
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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.

    More about this property
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