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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Flex space
2005 Progress Ave Columbus, OH 43207-1728
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-1416021
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1968
Total area
7,200 SF
Lot
1.03 ac (44,693 SF)
Zoning code
2005
APN
010-043165
UPID
US66-1416021
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.13M
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.13M
Owner & transaction history
Progress Real Estate LLC · 2 yrs held
Progress Real Estate LLC
since 2024
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
2005 · Columbus, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+154.9%
Auto repair, garage
$1.1M
+77.2%
Apartment house (5+ units)
$1.0M
+62.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Columbus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Columbus submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,125,000
ML approach
$1,125,000
CAP Approach
CAP Return
Estimation
6%
$1,395,000
6.5%
$1,285,000
7%
$1,195,000
Alternative Use
Use
Estimation
RESTAURANT
$1,640,000
Change: +155% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,140,000
Change: +77% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,045,000
Change: +62% · Conversion: Difficult
OFFICE BUILDING
$1,030,000
Change: +60% · Conversion: Difficult
MEDICAL BUILDING
$970,000
Change: +51% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$780,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$775,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±10% · vs last sale $1.13M (Apr 1 2024)
Last sale anchor
$1.13M
Apr 1 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$156 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,032
Tax year 2023
Assessed value
$164,720
Assessed 2023
Previous assessed
$146,300
+12.6% YoY
Effective rate
7.30%
On assessed value
Assessed land
$15,930
Assessed improvement
$148,790
Land market value
$45,500
Improvement market value
$425,100
Total market value
$470,600
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1968
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
7,200 SF
Lot
1.03 ac (44,693 SF)
Zoning code
2005
APN
010-043165
UPID
US66-1416021
Jurisdiction
FRANKLIN
Zoning & alternative use
2005 · Columbus, OH
Zoning 2005 · permitted uses
2005 · Columbus, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Columbus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$970,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$780,000
RETAIL STORES
Est. value
$775,000
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
1.03 ac
Current owner
From public records · entity-resolved
Progress Real Estate LLC
Entity
Mailing address
2005 PROGRESS AVE, COLUMBUS, OH 43207-1728
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2024
$1,125,000
Progress Real Estate LLC
Progress Capital LLC
Limited Warranty Deed
$900,000 · The Community Bank
Jan 2, 2024
—
Progress Capital LLC
—
Deed
related
$3,170,400 · The Northern Trust Co
Jul 26, 2022
$680,000
Progress Capital LLC
Wenger Temperature Control INC
Limited Warranty Deed
$7,200,000 · The Northern Trust Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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