Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    831-833 Lilley Ave Columbus, OH 43205

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    831-833 Lilley Ave Columbus, OH 43205

    View on Map
    • Apartment buildings
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 831-833 Lilley Ave

    Year built
    1925
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This fully renovated and well-maintained duplex in Columbus, Ohio, presents a compelling investment opportunity. Located at 831-833 Lilley Avenue, this property boasts two units, each featuring two bedrooms and one bathroom, complete with laundry hookups. The lower unit offers convenient access to a full basement. All mechanical systems were replaced in 2021, ensuring efficient and low-maintenance operation. Currently, one unit commands a monthly rent of $900, while the lower unit is vacant but readily rentable at $1100, potentially yielding a total monthly income of $2200. Tenants are responsible for all utilities. The property sits on a 3,920.4 square foot lot with a fenced yard, offering the potential for off-street parking. Central air conditioning adds to the property's appeal. This duplex is easily managed and maintained, making it an ideal investment for both seasoned and novice investors. The asking price is $347,000, translating to $172.12 per square foot. Note that this property can be purchased individually or as part of a larger package including other properties in Columbus, Marion, and Toledo. A 48-hour notice is required for showings. Please do not disturb the tenants. Built in 1925.

    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
    -82.9584
    Latitude
    39.9496

    Comparable in this City

    • Value Estimation by Request

      1786-1788 Rich St

      Multifamily properties
      1786-1788 Rich St, Columbus, OH 43205
      View Details
    • Value Estimation by Request

      483-485 Champion Ave

      Multifamily properties
      483-485 Champion Ave, Columbus, OH 43205
      View Details
    • Value Estimation by Request

      609-611 Fairwood Ave

      Multifamily properties
      609-611 Fairwood Ave, Columbus, OH 43205
      View Details
    • Value Estimation by Request

      506 Miller Ave

      Multifamily properties
      506 Miller Ave, Columbus, OH 43205
      View Details
    • Value Estimation by Request

      538-540 Kelton Ave

      Multifamily properties
      538-540 Kelton Ave, Columbus, OH 43205
      View Details
    • Value Estimation by Request

      764-766 Kelton Ave

      Multifamily properties
      764-766 Kelton Ave, Columbus, OH 43205
      View Details

    Similar Nearby for Sale

    • $875,000

      Franklin Avenue Duplex - Columbus, OH

      Prime Columbus Duplex, High ROI Potential
      1033-1035 Franklin Ave, Columbus, OH 43205
      View Details
    • Contact for pricing
      7,578 SF

      New Multifamily Property in Columbus

      Newly-constructed multifamily property in revitalized Olde Towne East neighborhood.
      1204 Oak St, Columbus, OH 43205
      View Details
    • Contact for pricing
      12,265 SF

      Mixed-Use Property on Main Street

      Retail space, apartments, office, and carriage house available.
      1229-1231 E Main St, Columbus, OH 43205
      View Details
    • Contact for pricing
      3,504 SF

      Mixed-Use Retail With Renovated Apartment

      Mixed-use property featuring retail space and a renovated apartment.
      1029 E Livingston Ave, Columbus, OH 43205
      View Details
    • Contact for pricing
      5,810 SF

      Mixed-Use Building in Olde Towne

      Commercial mixed-use building with parking in Olde Towne East.
      1010-1016 E Main St, Columbus, OH 43205
      View Details
    • Contact for pricing

      Renovated Four-Unit Building

      Newly renovated four-unit building in Olde Towne East.
      121-125 Wilson Ave, Columbus, OH 43205
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      6,240 SF

      Industrial Space with Office

      6,240 SF industrial space featuring a second-floor office.
      1956 E Walnut St, Columbus, OH 43205
      View Details
    • Contact for pricing

      Land For Sale Columbus

      Land available for sale in Columbus, Ohio.
      Seymour Ave, Columbus, OH 43205
      View Details
    • Contact for pricing

      Warehouse Units Near Downtown Columbus

      Two warehouse units available for lease just outside downtown Columbus.
      Collumbus, Columbus, OH 43205
      View Details
    • $10 SF/Yr
      60,000 SF

      Bexley Business Park: Flex Space Available

      Columbus industrial space, 3,200-60,000 SF
      572 Nelson Rd, Columbus, OH 43205
      View Details
    • Contact for pricing

      Columbus Retail/Flex/Industrial Space Available

      5,624 SF retail/flex/industrial property in Columbus, OH for lease.
      156 S Ohio Ave, Columbus, OH 43205
      View Details
    • Contact for pricing

      Olde Towne East Mixed-Use Space

      Restaurant/retail space in new mixed-use development, Olde Towne East.
      80 S 18Th St, Columbus, OH 43205
      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.
    831-833 Lilley Ave
    Columbus, OH 43205
    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.
    Sign Up Successful!
    You now have access to more from Realmo!