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

    1056 Cleveland Ave Columbus, OH 43201-3753

    • Commercial land
    • 1,608 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1991438
    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 land

    Property Details for 1056 Cleveland Ave

    Year built
    1910
    Lot size
    0.09 lot acres
    Property size
    1,608 SF
    Property type
    Commercial land
    APN
    010-052621
    APU
    10052621

    Description

    This exceptional 3,920.4 square foot commercial land parcel presents a unique development opportunity in Columbus, Ohio's vibrant Milo Grogan community. Located at 1056 Cleveland Avenue, this corner lot sits at the intersection of 4th and Cleveland Avenues, offering excellent visibility and accessibility. The property benefits from its proximity to key amenities and transportation infrastructure, including the new Boys & Girls Club and several restaurants, with Rogue Fitness directly across the street. Convenient access to Interstate I-71 and I-70 is just three minutes away, providing easy commutes throughout the region. Public transportation is readily available, with a ten-minute Cota bus ride to downtown Columbus. The property is also within close proximity to Columbus State Community College (five minutes), Ohio State University campus (fifteen minutes), and John Glenn International Airport (twenty minutes). For sports enthusiasts, Nationwide Arena is a mere six minutes away. Furthermore, this location offers easy access to Intel's new plant, located approximately thirty minutes from the property. Potential tax incentives may be available for development. This is an exceptional opportunity for investors and developers alike. Note that two additional parcels are also available for purchase. The property's address is 1056 Cleveland Avenue, Columbus, OH 43201.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9889
    Latitude
    39.9857
    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
    $351
    $4,800
    $0.00
    $4,800
    -
    $13,700
    $0.00
    $13,700

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      Norwich Ave

      VACANT COMMERCIAL LAND • 0.06 Acres
      Norwich Ave, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.03 Acres

      Norwich Ave

      VACANT COMMERCIAL LAND • 0.03 Acres
      Norwich Ave, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.08 Acres

      Kessler St

      VACANT COMMERCIAL LAND • 0.08 Acres
      Kessler St, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.08 Acres

      Kessler St

      VACANT COMMERCIAL LAND • 0.08 Acres
      Kessler St, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.08 Acres

      Kessler St

      VACANT COMMERCIAL LAND • 0.08 Acres
      Kessler St, Columbus, OH 43201
      View Details
    • Value Estimation by Request
      0.09 Acres

      Cleveland Ave

      VACANT COMMERCIAL LAND • 0.09 Acres
      Cleveland Ave, Columbus, OH 43201
      View Details

    Similar Nearby for Sale

    • $1,950,000

      Vacant Land For Sale

      8.61 acres of vacant land with potential manufacturing zoning.
      2124 Williams 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
    • $180,000
      Pending

      Vacant Lot in Harrison West

      Corner lot with approved plans in prime Columbus location.
      Bradley St, Columbus, OH 43201
      View Details
    • $180,000

      Columbus Land: Prime Development Site

      10,454 sq ft lot, ideal location.
      0 5Th Ave, Columbus, OH 43201
      View Details
    • $4,950,000
      1 SF

      Columbus Land Parcel For Sale

      Land parcel available in Columbus, Ohio.
      268 E 11Th Ave, Columbus, OH 43201
      View Details
    • $129,900

      Columbus Land: Prime Milo Grogan Lot

      Build Your Dream Home in Growing Milo Grogan
      574 Reynolds Ave, Columbus, OH 43201
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Corner Land Lease Opportunity

      Land lease opportunity near Grandview Yard District.
      1600 W 5Th Ave, Columbus, OH 43201
      View Details
    • $16 SF/Yr
      33,876 SF

      High Street Retail Opportunity

      Columbus CBD Retail Spaces Available
      1195-1209 High St, Columbus, OH 43201
      View Details
    • $12 SF/Yr
      10,208 SF

      Short North Retail Opportunity

      Prime Columbus location, two spaces available
      15-17 5Th Ave, Columbus, OH 43201
      View Details
    • $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
    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.
    1056 Cleveland Ave
    Columbus, OH 43201-3753
    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.