Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    1188-1196 3rd Ave Columbus, OH 43212

    • Retail space
    • 5,520 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2573320
    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

    • Retail space

    Property Details for 1188-1196 3rd Ave

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.13 lot acres
    Property size
    5,520 SF
    Property type
    Retail space
    APN
    010-065698
    APU
    10065698

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $416,000
      Market price range: $285k - $953k
      AI Estimate
      $351,000
      Market price range: $254k - $757k

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0373
    Latitude
    39.9851
    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
    $12,147
    $21,320
    $144,970
    $166,290
    -
    $60,900
    $414,200
    $475,100

    Comparable in this City

    • Value Estimation
      $460,000
      11,688 SF

      1440-1472 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,688 SF
      1440-1472 5th Ave, Columbus, OH 43212
      View Details
    • Value Estimation
      $220,000
      1,500 SF

      1749 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      1749 5th Ave, Columbus, OH 43212-2320
      View Details
    • Value Estimation
      $230,000
      3,120 SF

      1804-1810 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,120 SF
      1804-1810 5th Ave, Columbus, OH 43212
      View Details
    • Value Estimation
      $290,000
      3,035 SF

      1515 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,035 SF
      1515 5th Ave, Columbus, OH 43212-2403
      View Details
    • Value Estimation
      $290,000
      2,679 SF

      1635 1st Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,679 SF
      1635 1st Ave, Grandview, OH 43212-3349
      View Details
    • Value Estimation
      $220,000
      1,470 SF

      1634 1st Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,470 SF
      1634 1st Ave, Grandview, OH 43212-3348
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,560 SF

      Retail Space in Grandview

      Retail space with high visibility and on-site parking.
      1387-1395 W 5Th Ave, Columbus, OH 43212
      View Details
    • $2,195,000
      9,525 SF

      Grandview Heights Retail Center For Sale

      Fully leased retail center in Columbus, Ohio's Grandview Heights.
      1664 W 1St Ave, Columbus, OH 43212
      View Details
    • $369,000
      1,440 SF

      Charming Condo in Marble Cliff

      Two-story condo with modern amenities, close to downtown and OSU.
      1571 Arlington Ave, Columbus, OH 43212
      View Details
    • New
      $470,000
      0.13 Acres

      Grandview Area Two-Family Opportunity

      Two-unit property in Grandview area with month-to-month tenants.
      1424-1426 Ashland Ave, Columbus, OH 43212
      View Details
    • $2,500,000
      10,450 SF

      Grandview Office Building For Sale

      Prime Grandview location, 10,450 sq ft office.
      1550 5Th Ave, Columbus, OH 43212
      View Details
    • $1,200,000
      7,744 SF

      King Avenue Corner Office Building

      Two-story office building on a highly visible corner lot.
      1580 King Ave, Columbus, OH 43212
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo
      593 SF

      Boutique Retail Space For Rent

      Highly visible 593 sq. ft. retail suite on Northwest Blvd.
      1724 Northwest Blvd, Columbus, OH 43212
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space in Mixed-Use Project

      Retail spaces available in new mixed-use development, delivery Spring/Summer 2025.
      1350 W 5Th Ave, Columbus, OH 43212
      View Details
    • Contact for pricing
      8,200 SF

      Columbus Freestanding Building For Lease

      8,200 SF building near Grandview Yard, suitable for various uses.
      1385-1387 Goodale Blvd, Columbus, OH 43212
      View Details
    • $25 SF/Yr
      3,305 SF

      Retail Space with Pool Access

      Retail space with direct access to pool and outdoor bar.
      1124 Chambers Rd, Columbus, OH 43212
      View Details
    • Contact for pricing
      25,000 SF

      Grace's Bend II Retail Space

      Columbus, OH retail & office opportunity. High-traffic location.
      1275 Olentangy River Rd, Columbus, OH 43212
      View Details
    • $30 SF/Yr
      4,027 SF

      Retail Space in Mixed-Use Development

      Retail spaces available in new mixed-use development in Columbus.
      1349 Delashmut Ave, Columbus, OH 43212
      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.
    1188-1196 3rd Ave
    Columbus, OH 43212
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.