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

    161 Park Rd Columbus, OH 43235-6429

    • Office buildings
    • 2,884 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2021
    $250,000
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2292564
    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

    • Flint Animal Hospital/ Driving Park Animal Hospital / Veterinarian / Animal Hospital
    • Flint Animal Hospital / Veterinarian
    • Last Knight & Greyhawk Kennels / Pet Groomer / Pet Store

    Property Details for 161 Park Rd

    Year built
    1929
    Lot size
    0.46 lot acres
    Property size
    2,884 SF
    Property type
    Office buildings
    APN
    610-231821
    APU
    610231821

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $315,000
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $328,000
      Market price range: $200k - $480k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0071
    Latitude
    40.1271
    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
    $9,211
    $38,360
    $63,700
    $102,060
    -
    $109,600
    $182,000
    $291,600

    Comparable in this City

    • Value Estimation
      $290,000
      0.02 Acres

      2515 Dublin Granville Rd

      OFFICE BUILDING • 0.02 Acres
      2515 Dublin Granville Rd, Columbus, OH 43235-2708
      View Details
    • Value Estimation
      $705,000
      201,726 SF

      7400 Safelite Way

      OFFICE BUILDING (MULTI-STORY) • 201,726 SF
      7400 Safelite Way, Columbus, OH 43235-5086
      View Details
    • Value Estimation
      $1,470,000
      16,560 SF

      4871 Sawmill Rd, Unit 4891

      OFFICE BUILDING • 16,560 SF
      4871 Sawmill Rd, Columbus, OH 43235-7266
      View Details
    • Value Estimation
      $4,505,000
      123,090 SF

      7450 Huntington Park Dr

      OFFICE BUILDING (MULTI-STORY) • 123,090 SF
      7450 Huntington Park Dr, Columbus, OH 43235-5617
      View Details
    • Value Estimation
      $645,000
      4,692 SF

      7949 High St

      OFFICE BUILDING • 4,692 SF
      7949 High St, Columbus, OH 43235-1653
      View Details
    • Value Estimation
      $250,000
      0.48 Acres

      8101 High St

      OFFICE BUILDING (MULTI-STORY) • 0.48 Acres
      8101 High St, Columbus, OH 43235-1406
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Renovated Office Building For Sale

      Premier office building in Worthington submarket with flexible spaces.
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    • $1,050,000
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      Multi-Tenant Office Building For Sale

      Two-story, 7,000 SF office building near I-270.
      7620 Olentangy River Rd, Columbus, OH 43235
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      15,988 SF

      Medical Office Building in Worthington

      Two-story medical office building with suites available for sale.
      8080 Ravines Edge Ct, Columbus, OH 43235
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    • $4,445,000
      25,344 SF

      Multi-Suite Office Park For Sale

      Multi-suite office park with close access to Sawmill Rd & I-270.
      6800-6850 Caine Rd, Columbus, OH 43235
      View Details
    • Contact for pricing
      129,826 SF

      Class A Office Building

      High-efficiency office building with tenant amenities and easy highway access.
      7575 Huntington Park Dr, Columbus, OH 43235
      View Details
    • Contact for pricing
      25,344 SF

      Caine Road Office Park Investment

      Columbus Office Complex: 22 Suites, 100% Leased
      6800-6850 Caine Rd, Columbus, OH 43235
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      8,399 SF

      Dublin Office Building For Lease

      Office building in Dublin with freeway access and visibility.
      2400 Farmers Dr, Columbus, OH 43235
      View Details
    • $1,295,000
      6,501 SF

      Versatile Office Building with Garage

      Office building with garage in established suburban corridor for rent.
      7400 E Skyline Dr, Columbus, OH 43235
      View Details
    • $9 SF/Yr
      119,000 SF

      Northwoods I Office Space Available

      Columbus Office Building: Prime Location, Flexible Suites
      7965 High St, Columbus, OH 43235
      View Details
    • $18 SF/Yr
      141,072 SF

      Farmers Dr Executive Offices

      Columbus Office Space: 8 Suites Available
      2500 Farmers Dr, Columbus, OH 43235
      View Details
    • $23 SF/Yr
      4,500 SF

      Renovated Office Space with Lounge

      Newly renovated office space featuring a speakeasy-style tenant lounge.
      7710 Olentangy River Rd, Columbus, OH 43235
      View Details
    • $12 SF/Yr
      2,453 SF

      Northwoods Blvd Office Space Available

      2,453 Sq. Ft. office space for rent.
      170 Northwoods Blvd, Columbus, OH 43235
      View Details
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    161 Park Rd
    Columbus, OH 43235-6429
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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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