Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1496 23Rd Ave Columbus, OH 43211

    Property Lookup

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

    1496 23Rd Ave Columbus, OH 43211

    View on Map
    • Small apartment buildings
    • 1,484 SF
    Off-Market
    Property ID
    US66-0298672
    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 1496 23Rd Ave

    Year built
    1964
    Property size
    1,484 SF
    Property type
    Small apartment buildings
    APN
    : 010-061166

    Description

    This Columbus, Ohio duplex, located at 1496 E 23rd Avenue, presents a compelling investment opportunity. The property, built in 1964 and renovated in 1978, boasts a total of 1,484 square feet situated on a 4,356 square foot lot (APN: 010-061166). It features two units, each offering two bedrooms and one bathroom, with a potential rental income of $900 or more per unit. Recent improvements include a new roof installed in 2024 and exterior painting completed in 2020. The property's convenient location offers easy access to downtown Columbus, major highways, and a variety of shopping and dining options, including proximity to the Easton Shopping Center. Additional features include off-street parking and a spacious backyard. The asking price is $195,000, translating to $131.40 per square foot. This duplex is an excellent addition to any investment portfolio, offering strong rental potential and a desirable location. Serious inquiries are encouraged.

    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
    -82.9683952
    Latitude
    40.0054661

    Comparable in this City

    • $850,000

      Mixed-Use Investment with Repositioning Potential

      Mixed-use property with residential and retail units in North Linden.
      1084-1086 E Hudson St, Columbus, OH 43211
      View Details
    • Contact for pricing

      Turnkey Duplex Investment Opportunity

      Fully rented duplex with tax abatement and income upside.
      1445-1447 Jefferson Ave, Columbus, OH 43211
      View Details
    • Contact for pricing

      Single-Story Duplex Near Linden Park

      Duplex with modern units, near community center and park.
      2445-2447 Hiawatha St, Columbus, OH 43211
      View Details
    • $200,000

      Columbus Duplex: Investment Opportunity

      Well-maintained duplex in South Linden with immediate rental income.
      1301-1303 E 26Th Ave, Columbus, OH 43211
      View Details
    • $450,000
      800 SF

      Renovated Triplex in Columbus

      Turnkey triplex with renovated units, ideal for investors.
      1530 Genessee Ave, Columbus, OH 43211
      View Details
    • $235,000
      0.12 Acres

      Columbus Duplex: Investor Opportunity

      Duplex near highway, shopping, and restaurants. Great cashflow potential.
      1157-1159 E 18Th Ave, Columbus, OH 43211
      View Details

    Similar Nearby for Sale

    • $850,000

      Mixed-Use Investment with Repositioning Potential

      Mixed-use property with residential and retail units in North Linden.
      1084-1086 E Hudson St, Columbus, OH 43211
      View Details
    • Contact for pricing

      Fully Occupied Investment Property

      Investment property with hardwood floors, full utilities, and bus access.
      1047 E 21St Ave, Columbus, OH 43211
      View Details
    • Contact for pricing

      Fully Occupied Duplex For Sale

      Duplex with recent capital improvements and completed deferred maintenance.
      1500-1502 E 26Th Ave, Columbus, OH 43211
      View Details
    • $499,900
      0.22 Acres

      Turnkey Four-Unit Investment Opportunity

      Four-unit property with renovated units and value-add potential.
      1524 Genessee Ave, Columbus, OH 43211
      View Details
    • Contact for pricing

      Turnkey Duplex Investment Opportunity

      Fully rented duplex with tax abatement and income upside.
      1445-1447 Jefferson Ave, Columbus, OH 43211
      View Details
    • Contact for pricing

      Single-Story Duplex Near Linden Park

      Duplex with modern units, near community center and park.
      2445-2447 Hiawatha St, Columbus, OH 43211
      View Details

    Similar Nearby for Lease

    • $13,000 /Mo

      Paved Parking Lot For Rent

      3-acre paved, fenced parking lot near I-71 and I-270.
      Westerville Rd, Columbus, OH 43211
      View Details
    • Contact for pricing
      2,712 SF

      Functional Warehouse Space Near I-71

      Well-maintained warehouse with loading doors, storage, and I-71 access.
      1359 Essex Ave, Columbus, OH 43211
      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.
    1496 23Rd Ave
    Columbus, OH 43211
    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.
    Sign Up Successful!
    You now have access to more from Realmo!