Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1373-1375 18 Ave Lancaster, OH 43211
    Back to Search
    Property profile & analytics

    1373-1375 18 Ave Lancaster, OH 43211

    View on Map
    • Mixed-use properties
    • 15,100 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 1373-1375 18 Ave

    Property size
    15,100 SF
    Property type
    Mixed-use properties

    Description

    This exceptional investment opportunity presents a six-property portfolio located in Columbus and Lancaster, Ohio. The portfolio comprises a diverse mix of property types, including two single-family homes, one condominium, one mixed-use building, one duplex, and one quadplex. These properties are currently generating a substantial net operating income (NOI) of approximately $85,527, representing a compelling 7.2% capitalization rate. The total square footage across all six properties is 15,100, with an asking price of $1,200,000, resulting in a price per square foot of $79.47. The portfolio boasts a 93% occupancy rate, indicating strong tenant demand and consistent rental income. Due to existing tenant occupancy, showings are contingent upon an accepted purchase offer. While offers on individual properties will be considered, the seller strongly prefers to sell the entire portfolio as a single unit. This presents a rare opportunity to acquire a stabilized, income-producing portfolio in a desirable Ohio market. The properties are strategically located across multiple addresses in Columbus and Lancaster, offering a diversified investment strategy. This portfolio is ideal for investors seeking a high-yield, low-risk investment with significant potential for future appreciation. Detailed financial statements and property-specific information are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9707
    Latitude
    40.0011

    Comparable in this City

    • Value Estimation by Request
      7,347 SF

      1790 Cleveland Ave

      Mixed-use properties • 7,347 SF
      1790 Cleveland Ave, Columbus, OH 43211
      View Details
    • Value Estimation
      $3,370,000
      21,218 SF

      1402 Cleveland Ave, Unit 1418

      OFFICE/RESIDENTIAL (MIXED USE) • 21,218 SF
      1402 Cleveland Ave, Columbus, OH 43211-2760
      View Details
    • Value Estimation by Request
      2,294 SF

      2291 Cleveland Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,294 SF
      2291 Cleveland Ave, Columbus, OH 43211-1607
      View Details
    • Value Estimation by Request
      3,638 SF

      2204 Parkwood Ave

      STORES & APARTMENTS • 3,638 SF
      2204 Parkwood Ave, Columbus, OH 43211-2343
      View Details
    • Value Estimation by Request
      4,492 SF

      2505-2507 Cleveland Ave

      STORES & APARTMENTS • 4,492 SF
      2505-2507 Cleveland Ave, Columbus, OH 43211
      View Details
    • Value Estimation
      $575,000
      5,184 SF

      2258 Cleveland Ave

      STORES & APARTMENTS • 5,184 SF
      2258 Cleveland Ave, Columbus, OH 43211-2276
      View Details

    Similar Nearby for Sale

    • $850,000

      Mixed-Use Investment with Repositioning Potential

      Mixed-use property with residential and retail units in North Linden.
      1084-1086 E Hudson St, Columbus, OH 43211
      View Details
    • Contact for pricing
      3,876 SF

      Columbus Retail Space For Sale

      Retail space available in Columbus, subject to court approval.
      2165 Cleveland Ave, Columbus, OH 43211
      View Details
    • New
      $255,000
      0.10 Acres

      Remodeled Duplex Near OSU

      Fully remodeled duplex with income potential near Ohio State.
      1074 E 15Th Ave, Columbus, OH 43211
      View Details
    • New
      $43,400
      0.11 Acres

      Residential Land in Columbus, OH

      Land approved for duplex with ready-to-build permits.
      1371 Aberdeen Ave, Columbus, OH 43211
      View Details
    • New
      $30,000
      0.12 Acres

      Residential Lot in South Linden

      Residential lot for custom home or investment project.
      2209 Ontario St, Columbus, OH 43211
      View Details
    • Contact for pricing

      Prime Retail/Commercial Pad Site

      0.43-acre pad site for retail or commercial development.
      2305 Cleveland Ave, Columbus, OH 43211
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      71,000 SF

      Columbus Warehouse Distribution Opportunity

      71,000 SF warehouse near Downtown Columbus and major transportation.
      1380 Windsor Ave, Columbus, OH 43211
      View Details
    • Contact for pricing
      2,712 SF

      Functional Warehouse Space Near I-71

      Well-maintained warehouse with loading doors, storage, and I-71 access.
      1359 Essex Ave, Columbus, OH 43211
      View Details
    • Contact for pricing
      336,351 SF

      Columbus Class A Industrial Development

      Class A industrial space in growing Columbus business hub.
      1285 Joyce Ave, Columbus, OH 43211
      View Details
    • Contact for pricing
      287,653 SF

      Columbus Class A Industrial Space

      Class A industrial development near Downtown Columbus and major transportation.
      1401 Joyce Ave, Columbus, OH 43211
      View Details
    • Contact for pricing

      Prime Retail Space Available

      High-visibility retail space in a high-traffic Columbus location.
      675 East Hudson St, Columbus, OH 43211
      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.
    1373-1375 18 Ave
    Lancaster, OH 43211
    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

    Thank You for Inquiry
    1373-1375 18 Ave, Lancaster, OH, 43211
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!