Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1823 Morse Rd, Unit 1839 Columbus, OH 43229-6603

    • Strip malls
    • 10,602 SF
    • 1.89 lot acres
    OFF-MARKET
    Value Estimations
    $1,330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2696336
    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

    • Wingstop / Restaurant

    Property Details for 1823 Morse Rd

    Year built
    2013
    Lot size
    1.89 lot acres
    Property size
    10,602 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    010-286105
    APU
    10286105

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,910,000
      6.5%
      $1,765,000
      7%
      $1,640,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,145,000
      Current use
      AUTO REPAIR, GARAGE
      $1,680,000
      Change: +47% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,535,000
      Change: +34% Conversion: Difficult
      MEDICAL BUILDING
      $1,430,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $1,140,000
      Change: -1% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,030,000
      Change: -10% Conversion: Easy
      OFFICE BUILDING
      $955,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9697
    Latitude
    40.0597
    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
    $80,666
    $297,500
    $806,790
    $1,104,290
    -
    $850,000
    $2,305,100
    $3,155,100

    Comparable in this City

    • Value Estimation
      $800,000
      7,907 SF

      1872-1878 Tamarack So Crk

      SHOPPING CENTER, STRIP CENTER • 7,907 SF
      1872-1878 Tamarack So Crk, Columbus, OH 43229
      View Details
    • Value Estimation
      $930,000
      8,324 SF

      1485 Schrock Rd, Unit 1505

      SHOPPING CENTER, STRIP CENTER • 8,324 SF
      1485 Schrock Rd, Columbus, OH 43229-1347
      View Details
    • Value Estimation
      $3,350,000
      34,321 SF

      1931 Dublin Granville Rd, Unit 1977

      SHOPPING CENTER, STRIP CENTER • 34,321 SF
      1931 Dublin Granville Rd, Columbus, OH 43229-3508
      View Details
    • Value Estimation by Request
      0.02 Acres

      Morse Rd

      SHOPPING CENTER, STRIP CENTER • 0.02 Acres
      Morse Rd, Columbus, OH 43229
      View Details
    • Value Estimation
      $2,260,000
      20,143 SF

      1997 Dublin Granville Rd, Unit 1019

      SHOPPING CENTER, STRIP CENTER • 20,143 SF
      1997 Dublin Granville Rd, Columbus, OH 43229-3527
      View Details
    • Value Estimation
      $2,430,000
      24,420 SF

      1930 Schrock Rd, Unit 1970

      SHOPPING CENTER, STRIP CENTER • 24,420 SF
      1930 Schrock Rd, Columbus, OH 43229-1563
      View Details

    Similar Nearby for Sale

    • $1,750,000
      6,126 SF

      Prime Columbus Retail Redevelopment

      Former bank, high-traffic location, redevelopment potential.
      1325 Dublin Granville Rd, Columbus, OH 43229
      View Details
    • $2,834,000
      10,812 SF

      CVS Pharmacy Investment - Columbus, OH

      High-yield, NNN-leased CVS property
      1211 Morse Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      6,126 SF

      Prime Corner Redevelopment Opportunity

      6,126 SF building on 1.065-acre corner lot for sale.
      1325 E Dublin Granville Rd, Columbus, OH 43229
      View Details
    • $1,800,000

      Freestanding Retail on Morse Road

      Net-leased retail property on high-traffic Morse Road in Columbus, Ohio.
      2380 Morse Rd, Columbus, OH 43229
      View Details
    • Contact for pricing

      Bank of America NNN Ground Lease

      NNN ground lease with Bank of America in Columbus, Ohio.
      1650 Morse Rd, Columbus, OH 43229
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Retail Space in High-Traffic Center

      Retail space for lease in a high-traffic strip center.
      1997-2019 E Dublin Granville Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      1,812 SF

      High-Visibility Retail Space Available

      Retail space with strong traffic counts and easy access.
      1931-1977 E Dublin Granville Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      53,072 SF

      Columbus Retail Strip Center

      High-traffic Morse Road location. 1,600 SF available.
      1959-2007 Morse Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space on Morse Road

      Retail space available in a densely populated area.
      2100 Morse Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      8,650 SF

      Retail Space Near Aldi Store

      Retail space available in a densely populated area.
      2260-2296 Morse Rd, Columbus, OH 43229
      View Details
    • Contact for pricing
      3,200 SF

      Retail and Office Space Available

      Well-maintained shopping center with office suites for lease.
      975-1045 Mediterranean Ave, Columbus, OH 43229
      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.
    1823 Morse Rd, Unit 1839
    Columbus, OH 43229-6603
    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!