Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1012 Cleveland Ave Columbus, OH 43201-3707

    • Commercial real estate
    • 26,848 SF
    • 0.81 lot acres
    OFF-MARKET
    Last Sale
    Dec 22, 2021
    Value Estimations
    $4,535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5348472
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1012 Cleveland Ave

    Year built
    2021
    Lot size
    0.81 lot acres
    Property size
    26,848 SF
    Property type
    Commercial real estate
    APN
    010-066833
    APU
    10066833

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,135,000
      6.5%
      $4,740,000
      7%
      $4,400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,076,000
      Market price range: $1.56M - $8.40M
      AI Estimate
      $2,793,000
      Market price range: $1.15M - $3.02M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,340,000
      Current use
      RESTAURANT
      $6,120,000
      Change: +41% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,260,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $3,830,000
      Change: -12% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,770,000
      Change: -13% Conversion: Moderate
      MEDICAL BUILDING
      $3,625,000
      Change: -17% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9888
    Latitude
    39.9846
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $87,140
    $111,690
    $1,081,220
    $1,192,910
    -
    $319,100
    $3,089,200
    $3,408,300

    Comparable in this City

    • Value Estimation by Request

      1212 Summit St

      Multifamily properties
      1212 Summit St, Columbus, OH 43201
      View Details
    • Value Estimation by Request

      2135 Smt St

      COMMERCIAL (GENERAL)
      2135 Smt St, Columbus, OH 43201-5325
      View Details
    • Value Estimation
      $11,395,000
      122,304 SF

      274 1st Ave

      COMMERCIAL (GENERAL) • 122,304 SF
      274 1st Ave, Columbus, OH 43201-3692
      View Details
    • Value Estimation
      $21,885,000
      150,080 SF

      939 High St, Unit 206

      COMMERCIAL (GENERAL) • 150,080 SF
      939 High St, Columbus, OH 43201-2555
      View Details
    • Value Estimation
      $1,290,000
      34,289 SF

      Shoemaker Ave

      COMMERCIAL (GENERAL) • 34,289 SF
      Shoemaker Ave, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      1,477 SF

      275 Chittenden Ave

      COMMERCIAL (GENERAL) • 1,477 SF
      275 Chittenden Ave, Columbus, OH 43201-2220
      View Details

    Similar Nearby for Sale

    • $514,000

      Columbus Duplex: Prime Location

      Italian Village/Weinland Park investment opportunity.
      1212 Summit St, Columbus, OH 43201
      View Details
    • $129,900

      Columbus Land: Milo Grogan Opportunity

      Build Your Dream Home: 3,049 sq ft lot
      570 Reynolds Ave, Columbus, OH 43201
      View Details
    • $600,000

      Prime Columbus Duplex

      Renovated 2-unit investment
      1350-1350 Dennison Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      6,142 SF

      Columbus Industrial Space for Sale

      6,142 SF industrial space with convenient highway access.
      800 Reynolds Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      8,126 SF

      Versatile Industrial Space with Offices

      8,126 SF industrial space with warehouse and office components.
      771 Saint Clair Ave, Columbus, OH 43201
      View Details
    • $180,000
      Pending

      Vacant Lot in Harrison West

      Corner lot with approved plans in prime Columbus location.
      Bradley St, Columbus, OH 43201
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      9,750 SF

      Short North Creative Office Space

      Columbus Office Suites, Prime Location
      1020 Dennison Ave, Columbus, OH 43201
      View Details
    • $13 SF/Yr
      18,839 SF

      Columbus Creative Office Space

      Historic Charm, Modern Amenities, 8,597 SF Available
      1445 Summit St, Columbus, OH 43201
      View Details
    • Contact for pricing
      1,574 SF

      Retail Space on Chittenden Avenue

      Retail space available for rent in Columbus, Ohio.
      266 Chittenden Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and strong tenant mix.
      3431 Cleveland Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      12,253 SF

      Columbus Warehouse Space Available

      Industrial warehouse space available for lease in Columbus, Ohio.
      4808 E 5Th Ave, Columbus, OH 43201
      View Details
    • Contact for pricing
      9,000 SF

      Columbus Warehouse Space Available

      9,000 SF warehouse space for lease in Columbus, OH.
      4750-4760 E 5Th Ave, Columbus, OH 43201
      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.
    1012 Cleveland Ave
    Columbus, OH 43201-3707
    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.