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

    1575-1577 Parsons Ave Columbus, OH 43207

    • Retail space
    • 2,275 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Jun 21, 2021
    $261,500
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1285072
    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 1575-1577 Parsons Ave

    Year built
    1920
    Lot size
    0.12 lot acres
    Property size
    2,275 SF
    Property type
    Retail space
    APN
    010-037151
    APU
    10037151

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $185,000
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $271,000
      Market price range: $89.7k - $271k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $245,000
      Current use
      MEDICAL BUILDING
      $305,000
      Change: +26% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $245,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9843
    Latitude
    39.9311
    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
    $6,704
    $8,260
    $83,510
    $91,770
    -
    $23,600
    $238,600
    $262,200

    Comparable in this City

    • Value Estimation
      $265,000
      0.15 Acres

      1393 High St

      RETAIL STORES (PERSONAL SERVICES) • 0.15 Acres
      1393 High St, Columbus, OH 43207-1043
      View Details
    • Value Estimation
      $300,000
      3,660 SF

      2613 Parsons Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,660 SF
      2613 Parsons Ave, Columbus, OH 43207-2974
      View Details
    • Value Estimation
      $175,000
      1,014 SF

      215 Barthman Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,014 SF
      215 Barthman Ave, Columbus, OH 43207-1916
      View Details
    • Value Estimation
      $445,000
      6,777 SF

      3201 High St

      RETAIL STORES (PERSONAL SERVICES) • 6,777 SF
      3201 High St, Columbus, OH 43207-3671
      View Details
    • Value Estimation
      $160,000
      2,720 SF

      3970 High St

      RETAIL STORES (PERSONAL SERVICES) • 2,720 SF
      3970 High St, Columbus, OH 43207-4014
      View Details
    • Value Estimation
      $215,000
      2,655 SF

      4290 Groveport Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,655 SF
      4290 Groveport Rd, Obetz, OH 43207-4302
      View Details

    Similar Nearby for Sale

    • $179,000
      880 SF

      Revitalized Retail Space on Parsons

      Renovated retail space in a dynamic, growing Columbus corridor.
      1536 Parsons Ave, Columbus, OH 43207
      View Details
    • $150,000
      649 SF

      Historical Building Near Downtown

      Affordable real estate opportunity in a desirable, growing area.
      1725 Parsons Ave, Columbus, OH 43207
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    • $1,000,000
      6,761 SF

      Retail Building on 4 Acres

      6,761 SF retail building on a 4.05-acre parcel.
      3201 S High St, Columbus, OH 43207
      View Details
    • Contact for pricing
      17,896 SF

      High-Visibility Retail Opportunity

      Divisible retail space with parking, near downtown Columbus.
      2140 S High St, Columbus, OH 43207
      View Details
    • $495,000
      5,973 SF

      High Street Commercial Building

      Columbus Bar/Restaurant - 5,973 SF
      1570 High St, Columbus, OH 43207
      View Details
    • Contact for pricing
      14,160 SF

      South High Street Retail/Flex Building

      Renovated 9,450 SF retail/flex/office building available late summer.
      1776 S High St, Columbus, OH 43207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,396 SF

      Prime Retail Space Near OSU

      Retail space in the heart of Ohio State's off-campus district.
      2020 North High St, Columbus, OH 43207
      View Details
    • $11 SF/Yr
      9,100 SF

      Free Standing Retail Building

      9,100 SF retail building available for immediate occupancy.
      1596 S Parsons Ave, Columbus, OH 43207
      View Details
    • $22 SF/Yr
      3,180 SF

      Retail Space with High Visibility

      Retail space available with excellent visibility and co-tenants.
      3479-3483 S High St, Columbus, OH 43207
      View Details
    • $8 SF/Yr
      311,913 SF

      Great Southern Office & Retail Space

      Columbus, OH prime retail location. Multiple suites available.
      3735 High St, Columbus, OH 43207
      View Details
    • Contact for pricing
      3,496 SF

      Retail Space with Drive-Through Potential

      3,496 SF retail space with high traffic and ample parking.
      4480 Alum Creek Dr, Columbus, OH 43207
      View Details
    • $9 SF/Yr
      9,100 SF

      Free Standing Retail Building

      9,100 SF retail building available for immediate occupancy.
      1530 Lockbourne Rd, Columbus, OH 43207
      View Details
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    Columbus, OH 43207
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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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