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

    1223-1227 Main St Columbus, OH 43205

    • Retail space
    • 7,320 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $1,125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1418274
    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 1223-1227 Main St

    Year built
    1925
    Construction
    WOOD
    Lot size
    0.09 lot acres
    Property size
    7,320 SF
    Zone code
    412
    Property type
    Retail space
    APN
    010-047669
    APU
    10047669

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,405,000
      6.5%
      $1,300,000
      7%
      $1,205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,173,000
      Market price range: $378k - $1.26M
      AI Estimate
      $902,000
      Market price range: $324k - $987k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $785,000
      Current use
      RESTAURANT
      $1,670,000
      Change: +112% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,160,000
      Change: +48% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,060,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $1,045,000
      Change: +33% Conversion: Easy
      MEDICAL BUILDING
      $990,000
      Change: +26% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $790,000
      Change: +1% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $730,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9665
    Latitude
    39.9575
    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
    $16,900
    $8,750
    $222,600
    $231,350
    -
    $25,000
    $636,000
    $661,000

    Comparable in this City

    • Value Estimation by Request
      3,201 SF

      1300-1304 Livingston Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,201 SF
      1300-1304 Livingston Ave, Columbus, OH 43205
      View Details
    • Value Estimation by Request
      1,867 SF

      981 Livingston Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,867 SF
      981 Livingston Ave, Columbus, OH 43205-2748
      View Details
    • Value Estimation
      $1,055,000
      6,688 SF

      970 Livingston Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,688 SF
      970 Livingston Ave, Columbus, OH 43205-2749
      View Details
    • Value Estimation
      $1,115,000
      6,912 SF

      1205 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,912 SF
      1205 Main St, Columbus, OH 43205-1932
      View Details
    • Value Estimation by Request
      2,458 SF

      1367 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,458 SF
      1367 Main St, Columbus, OH 43205-2035
      View Details
    • Value Estimation
      $700,000
      8,008 SF

      1985 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,008 SF
      1985 Main St, Columbus, OH 43205-1612
      View Details

    Similar Nearby for Sale

    • $369,900
      3,132 SF

      Redevelopment Opportunity Near Downtown Columbus

      Mixed-use commercial building with vacant lots near Nationwide Children's Hospital.
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    • $1,200,000
      5,624 SF

      Olde Towne East Retail Gem

      5,624 SF Retail Space, Prime Location
      156 Ohio Ave, Columbus, OH 43205
      View Details
    • $435,000
      8,524 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
    • $420,000

      Prime Columbus Duplex - $420K

      Renovated Duplex, 2 Units, Huge Lot
      1786-1788 Rich St, Columbus, OH 43205
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    • $70,000

      Columbus Land: Prime Development Site

      Residential Land, 4,356 sq ft, Olde Town East
      996 Mound St, Columbus, OH 43205
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    • $360,000

      Prime Columbus Development Land

      .25 Acres, Olde Towne East, $360K
      1161 Franklin Ave, Columbus, OH 43205
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      2,639 SF

      Retail/Restaurant Space in Olde Towne

      Class A retail/restaurant space in a mixed-use development.
      1117 Oak St, Columbus, OH 43205
      View Details
    • $475,000
      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
    • $1,190,000

      Versatile Retail/Flex/Industrial Property

      5,624 SF retail/flex/industrial property in Columbus, OH.
      156 S Ohio Ave, 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
    • $16 SF/Yr
      5,624 SF

      Prime Columbus Flex Space

      5,624 SF Retail/Industrial Opportunity
      156 Ohio Ave, Columbus, OH 43205
      View Details
    • Contact for pricing
      97,129 SF

      Triumph: Olde Towne East Retail Space

      Prime corner retail/restaurant, 1,638 sq ft available.
      80 18Th St, Columbus, OH 43205
      View Details
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    1223-1227 Main St
    Columbus, OH 43205
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    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
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