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

    1223 Long St Columbus, OH 43203-1942

    • Turn key restaurants
    • 1,427 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Nov 14, 2022
    $7,200
    Value Estimations
    $100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0327134
    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

    • Turn key restaurants

    Property Details for 1223 Long St

    Year built
    1910
    Construction
    WOOD
    Lot size
    0.15 lot acres
    Property size
    1,427 SF
    Property type
    Turn key restaurants
    APN
    010-021943
    APU
    10021943

    Description

    This exceptional 0.15-acre agricultural property located at 1223 E Long St, Columbus, OH 43203, presents a unique investment opportunity. The single-story building, totaling 1,484 square feet, underwent a complete renovation in 2024, ensuring modern functionality. The property boasts a 10-foot ceiling height and is currently vacant, offering immediate occupancy. With five total parking spaces, ample room for operations is available. The property features a robust 400-amp power supply. The land is classified as Class C and was originally built in 1961. Taxes are $1.59 per square foot. The property's convenient location in the King Lincoln/Olde Towne East submarket, near Champion Avenue, offers excellent accessibility. The APN is 010-021943-00. This property is ideal for a variety of agricultural uses and presents a strong return on investment. The property's single-tenant status provides simplicity and ease of management. This is a rare opportunity to acquire a renovated agricultural property in a desirable Columbus location. Don't miss out on this chance to own a piece of Columbus's thriving agricultural landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $80,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $114,000
      Market price range: $115k - $247k

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9686
    Latitude
    39.9684
    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
    $2,370
    $15,890
    $16,560
    $32,450
    -
    $45,400
    $47,300
    $92,700

    Comparable in this City

    • Value Estimation
      $340,000
      3,864 SF

      881 Mt Vernon Ave

      RESTAURANT • 3,864 SF
      881 Mt Vernon Ave, Columbus, OH 43203-1411
      View Details
    • Value Estimation
      $265,000
      0.13 Acres

      Monroe Ave

      RESTAURANT • 0.13 Acres
      Monroe Ave, Columbus, OH 43203
      View Details
    • Value Estimation
      $240,000
      1,958 SF

      859 Long St

      RESTAURANT • 1,958 SF
      859 Long St, Columbus, OH 43203-1851
      View Details
    • Value Estimation
      $80,000
      4,930 SF

      366 20th St

      RESTAURANT • 4,930 SF
      366 20th St, Columbus, OH 43203-1508
      View Details
    • Value Estimation
      $250,000
      0.07 Acres

      Avon Pl

      PARKING LOT • 0.07 Acres
      Avon Pl, Columbus, OH 43203
      View Details
    • Value Estimation
      $270,000
      0.07 Acres

      108 Governors Pl

      FINANCIAL BUILDING • 0.07 Acres
      108 Governors Pl, Columbus, OH 43203
      View Details

    Similar Nearby for Sale

    • $195,000
      2,114 SF

      Columbus Retail Property for Sale

      Stand-alone property in thriving Columbus neighborhood, minutes from Downtown.
      1103 Mount Vernon Ave, Columbus, OH 43203
      View Details
    • $550,000
      7,638 SF

      Prime Columbus Storefront Opportunity

      High-Traffic Retail Space, Excellent Investment
      1009 Mount Vernon Ave, Columbus, OH 43203
      View Details
    • $824,900

      Brand New Columbus Duplex

      Luxury Duplex, 2 Units, High ROI
      251 Taylor Ave, Columbus, OH 43203
      View Details
    • $297,500

      Columbus Duplex: Prime Investment Opportunity

      Two-unit building, needs TLC, great potential.
      1544-1546 Granville St, Columbus, OH 43203
      View Details
    • $450,000
      5,368 SF

      Mt. Vernon Ave Church - Columbus, OH

      Historic Church Building, Redevelopment Potential
      1248 Mount Vernon Ave, Columbus, OH 43203
      View Details
    • $70,000

      Shovel-Ready Triplex Site Approved

      Approved triplex site in Columbus' Near East Side.
      1233 Atcheson St, Columbus, OH 43203
      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.
    1223 Long St
    Columbus, OH 43203-1942
    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.