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    137 Wisconsin Ave Columbus, OH 43222
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    137 Wisconsin Ave, Columbus, OH 43222

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    • Small apartment buildings
    Off-Market
    Property ID
    US66-0528754
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 137 Wisconsin Ave

    Year built
    1900
    Property type
    Small apartment buildings

    Description

    This beautifully renovated 1900-built duplex in Columbus, Ohio, presents a compelling investment opportunity. Located at 137 Wisconsin Avenue, in the heart of Franklinton (zip code 43222), this property boasts two units: a 4-bedroom, 2-bathroom main house and a 1-bedroom, 1-bathroom apartment. Completely updated in 2021, the property offers significant potential for rental income, with an estimated monthly revenue of $2,750. The 4,791.6 square foot lot includes a fenced backyard and a 2-car garage with convenient alley access. The property is priced at $239,000, or $112.95 per square foot. Its location adjacent to a vacant lot owned by the Franklinton Development Association offers both privacy and potential future development benefits. This turnkey investment is priced below comparable properties on the same street, making it an attractive opportunity for savvy investors. The property's layout, with separate utilities, is easily adaptable for continued use as a duplex.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0337297
    Latitude
    39.9611687

    Comparable in this City

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      Updated Franklinton Duplex For Sale

      Renovated duplex with strong rental history near downtown Columbus.
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      4,408 SF

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      23,758 SF

      Franklinton Mixed-Use Building For Sale

      Mixed-use building with development opportunity in Opportunity Zone.
      1201 W Broad St, Columbus, OH 43222
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      Franklinton Retail and Apartment Building

      Retail space with unfinished apartments in booming Franklinton.
      1338-1350 W Broad St, Columbus, OH 43222
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      Tax Abated Income-Producing Duplex

      Duplex with long-term tenants and strong income, tax abated!
      113-115 W Park Ave, Columbus, OH 43222
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      Updated Duplex in Franklinton

      Updated duplex perfect for investors in a high-growth area.
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    • $289,900
      0.10 Acres

      Updated Franklinton Duplex For Sale

      Renovated duplex with strong rental history near downtown Columbus.
      189-191 N Central Ave, Columbus, OH 43222
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    Similar Nearby for Lease

    • $500,000
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      All-Brick Mixed-Use Building with Parking

      New-roof all-brick building offers flexible retail with apartment potential plus basement storage and eight off-street parking spaces.
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      Warehouse, Commercial, Retail Space Available

      Versatile space near downtown Columbus with I-70 access.
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    • $2,000 /Mo

      Commercial Land For Lease

      Paved and fenced ~0.5 acre lot available for lease.
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      Warehouse, Commercial, or Retail Space

      Versatile space near downtown Columbus with easy highway access.
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      Fenced and Paved Lot

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      8,000 SF

      Franklinton Commercial Building on Broad

      8,000 SF commercial building in shell condition on 0.35-acre lot.
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    Columbus, OH 43222
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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.

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