Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1500 Hillcrest Ave Springfield, OH 45504-1570

    Property Lookup

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

    1500 Hillcrest Ave Springfield, OH 45504-1570

    View on Map
    • Outlet malls
    • 211,877 SF
    • 24.01 lot acres
    Off-Market
    Last Sale Mar 3, 2020
    $250,000
    Property ID
    US66-1113101
    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

    • U.S. Bank Branch / Bank / Loan Service
    • Coinstar / Bank / Credit Union
    • Meijer Pharmacy / Pharmacy
    • Quick-Tag / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • U.S. Bank ATM / Atm

    Property Details for 1500 Hillcrest Ave

    Year built
    1989
    Construction
    CONCRETE BLOCKS
    Lot size
    24.01 lot acres
    Property size
    211,877 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    330-06-00006-300-015
    APU
    3300600006300015

    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
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8311
    Latitude
    39.943
    CBSA code
    44220
    CBSA name
    SPRINGFIELD, 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
    $172,330
    $1,441,300
    $1,372,960
    $2,814,260
    -
    $4,117,990
    $3,922,740
    $8,040,730

    Comparable in this City

    • Value Estimation
      $16,255,000
      218,901 SF

      2100 Bechtle Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 218,901 SF
      2100 Bechtle Ave, Springfield, OH 45504-1584
      View Details
    • Value Estimation
      $655,000
      17,771 SF

      1014-1018 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 17,771 SF
      1014-1018 Main St, Springfield, OH 45504
      View Details
    • Value Estimation
      $1,500,000
      20,260 SF

      1604 Bechtle Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 20,260 SF
      1604 Bechtle Ave, Springfield, OH 45504-1572
      View Details
    • Value Estimation
      $4,870,000
      54,588 SF

      2200 Bechtle Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 54,588 SF
      2200 Bechtle Ave, Springfield, OH 45504-1598
      View Details
    • Value Estimation
      $6,505,000
      96,430 SF

      1880 Bechtle Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 96,430 SF
      1880 Bechtle Ave, Springfield, OH 45504-1579
      View Details
    • Value Estimation
      $670,000
      18,180 SF

      1238 Uppr Vly Pike

      WHOLESALE OUTLET, DISCOUNT STORE • 18,180 SF
      1238 Uppr Vly Pike, Springfield, OH 45504-4020
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,953 SF

      Retail/Office Building Investment Opportunity

      Retail/office building in Springfield, OH, with high traffic and potential.
      1110 N Bechtle Ave, Springfield, OH 45504
      View Details
    • $950,000
      4,562 SF

      Springfield Car Wash Opportunity

      Longest running car wash in Springfield with redevelopment potential.
      927 W Columbia St, Springfield, OH 45504
      View Details
    • Contact for pricing
      2,100 SF

      High-Traffic Corner Commercial Opportunity

      Visible corner location ideal for retail and service businesses.
      2700 W National Rd, Springfield, OH 45504
      View Details
    • Contact for pricing
      45,000 SF

      Restored School Building on 8 Acres

      Two buildings totaling 45,000 SF on 8 acres near Springfield.
      3500 W National Rd, Springfield, OH 45504
      View Details
    • $189,000
      6.50 Acres

      Residential Land in Springfield Township

      6.5 acres to build your dream home.
      925 Upper Valley Pike, Springfield, OH 45504
      View Details
    • Contact for pricing
      Pending

      Manufacturing Property with Park Views

      6,888 SF manufacturing building overlooking Snyder Park and Buck Creek.
      714 Rubsam St, Springfield, OH 45504
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,426 SF

      Springfield Commons Outparcel Retail Opportunity

      Retail strip center with value-add opportunity in Springfield, Ohio.
      1501 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing
      49,930 SF

      Retail Space in Springfield, OH

      Retail opportunity with high traffic and strong tenant mix.
      1390-1476 Upper Valley Pike, Springfield, OH 45504
      View Details
    • Contact for pricing
      6,500 SF

      Retail Space on Bechtle Avenue

      Retail space available in a busy Springfield shopping center.
      1590-1690 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing

      Retail Space in Bechtle Square

      Retail spaces available in a high-traffic area near major retailers.
      1764 N Bechtle Ave, Springfield, OH 45504
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Springfield, Ohio.
      901 N Bechtle Ave, Springfield, OH 45504
      View Details
    • $22 SF/Yr
      1,440 SF

      Retail Space Available For Lease

      Retail space available for lease in Springfield, OH.
      1985-2075 N Bechtle Ave, Springfield, OH 45504
      View Details

    Property Visit Statistics

    • Visits by month
      175.0k
    • Visitors by month
      77.9k
    • Avg Time on site
      32 min
    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.
    1500 Hillcrest Ave
    Springfield, OH 45504-1570
    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

    Thank You for Inquiry

    1500 Hillcrest Ave, Springfield, OH, 45504

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!