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    2484 Noe Bixby Rd Columbus, OH 43232
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    2484 Noe Bixby Rd Columbus, OH 43232

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    Cap Rate Potential
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    • Land

    Property Details for 2484 Noe Bixby Rd

    Property type
    Land

    Description

    This exceptional 16,552.8 square foot lot, identified as Lot 12, is situated at 2484 Noe Bixby Road in Columbus, Ohio, zip code 43232. Located within Franklin County, this property presents a unique investment opportunity. The asking price for this parcel is $16,500. It's important to note that this lot is one of twelve available lots and may be considered for sale as part of a larger package. The property is designated as Land and offers significant potential for various development projects. Precise details regarding zoning regulations and permitted uses should be independently verified with the relevant authorities. Buyers are encouraged to conduct their own due diligence to assess the suitability of the land for their intended purpose. The geographic coordinates for this property are latitude 39.9253783 and longitude -82.8642098. This information is provided for informational purposes only and should not be considered a substitute for professional advice. Interested parties are advised to conduct thorough research before making any investment decisions.

    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
    -82.8642
    Latitude
    39.9254

    Comparable in this City

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      Groves Rd

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      2342 Noe Bixby Rd

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      2342 Noe Bixby Rd, Columbus, OH 43232
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      2354 Noe Bixby Rd

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      2354 Noe Bixby Rd, Columbus, OH 43232
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    • Value Estimation by Request

      Colvin Rd

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      0 Colvin Rd, Columbus, OH 43232
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      4.57 Acres

      4001 Groves Rd

      Land • 4.57 Acres
      4001 Groves Rd, Columbus, OH 43232
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      2336 Noe Bixby Rd

      Land
      2336 Noe Bixby Rd, Columbus, OH 43232
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    Similar Nearby for Sale

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      Contiguous Land Lot For Sale

      Land lot available for sale as part of a package.
      2354 Noe Bixby Rd, Columbus, OH 43232
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      Land Parcel in Columbus, OH

      Land parcel in Franklin County, close to highways and amenities.
      Colvin Rd, Columbus, OH 43232
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      Contiguous Land Lot For Sale

      Land lot available as part of a package deal.
      Noe Bixby Rd, Columbus, OH 43232
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    • Contact for pricing

      Contiguous Land Lot For Sale

      Land lot available for sale as part of a package.
      2348 Noe Bixby Rd, Columbus, OH 43232
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    • Contact for pricing

      Contiguous Land Lots For Sale

      Six contiguous land lots available for sale as a package.
      2360 Noe Bixby Rd, Columbus, OH 43232
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    • Contact for pricing

      Contiguous Land Lot For Sale

      Land lot available for sale, part of a package.
      2336 Noe Bixby Rd, Columbus, OH 43232
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    Similar Nearby for Lease

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      199,069 SF

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      Industrial Warehouse on Fenced Lot

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      Hamilton Road Commercial Land Opportunity

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      7.43 Acres For Lease

      7.43 acres available for lease, partially paved and fenced.
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      Development Land for Lease

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    Columbus, OH 43232
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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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