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    2020 Leonard Ave Columbus, OH 43219

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    2020 Leonard Ave Columbus, OH 43219

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    • Industrial properties
    • 50,374 SF
    • 3.50 lot acres
    For Lease
    $1,675,000
    View Listing →
    Historic Building Creative Space Available For Lease
    $1,675,000

    Historic Building Creative Space Available

    Creative and entrepreneurial community with various sized suites and storefronts.

    2020 Leonard Ave, Columbus, OH 43219
    View Listing
    Property ID
    US66-6269561
    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
    $1,675,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TysVizhuns / Photography Service / (Bike/Boat/Book/etc) Store
    • Shrew'd Arts / Theater & Performing Art Venue
    • Dump-Ins / Waste Management Facility / Hazardous Waste Disposal
    • Yamo Media / Media Distribution
    • Unicorn Fairy Princess Magic Tattoos with Sprinkles on Top / Tattoo & Piercing Shop

    Property Details for 2020 Leonard Ave

    Year built
    1935
    Lot size
    3.50 lot acres
    Property size
    50,374 SF
    Property type
    Industrial properties
    APN
    010-042194
    APU
    10042194

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,755,000
      ML approach
      $1,990,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,616,000
      Market price range: $1.29M - $4.24M

    • Alternative Use

      Use
      Estimation
      LUMBERYARD, BUILDING MATERIALS
      $2,695,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9515
    Latitude
    39.9878
    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
    $41,459
    $73,500
    $494,060
    $567,560
    -
    $210,000
    $1,411,600
    $1,621,600

    Comparable in this City

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      74,458 SF

      1711 Woodland Ave

      Distribution properties • 74,458 SF
      1711 Woodland Ave, Columbus, OH 43219
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    • Value Estimation
      $535,000
      6,240 SF

      2765 Drake Rd

      INDUSTRIAL (GENERAL) • 6,240 SF
      2765 Drake Rd, Columbus, OH 43219-1603
      View Details
    • Value Estimation by Request
      4.08 Acres

      1941 Stelzer Rd

      Land • 4.08 Acres
      1941 Stelzer Rd, Columbus, OH 43219
      View Details
    • Value Estimation by Request
      2.17 Acres

      Gibbard Ave

      INDUSTRIAL (GENERAL) • 2.17 Acres
      Gibbard Ave, Columbus, OH 43219
      View Details
    • Value Estimation
      $1,835,000
      53,376 SF

      3555 5th Ave

      INDUSTRIAL (GENERAL) • 53,376 SF
      3555 5th Ave, Columbus, OH 43219
      View Details

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      Columbus Mixed-Use/Industrial Property For Sale

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      Columbus Industrial Warehouse For Sale

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      199,266 SF

      Columbus Warehouse Space Available

      199,266 square foot warehouse space in Columbus, Ohio.
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    • $1,600,000
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      Flexible Industrial Property For Sale

      Industrial property with flexible layout and expansion potential.
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      7,020 SF

      Columbus Industrial Building For Sale

      Stand-alone industrial building near downtown Columbus with new 5-year lease.
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      View Details

    Similar Nearby for Lease

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      60,000 SF

      New Speculative Warehouse Near Airport

      Under-construction 207,740 SF warehouse near Columbus Airport.
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      View Details
    • $10 SF/Yr
      5,600 SF

      Industrial Building Suites For Lease

      Industrial building with suites for lease, convenient location.
      3051 Lamb Ave, Columbus, OH 43219
      View Details
    • Contact for pricing
      29,260 SF

      Industrial Property with Hazard Compliance

      Industrial property featuring hazard compliance and potential rail service.
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    • $10 SF/Yr
      4,070 SF

      Citygate Business Park Flex Space

      Flex space in Citygate Business Park, convenient location, freeway access.
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      Flex Office & Warehouse Space

      Flex office and warehouse space with drive-in doors.
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      View Details
    • Contact for pricing

      Office Warehouse Near Airport

      Office warehouse space for lease near John Glenn Airport.
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      View Details
    View Listing
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    2020 Leonard Ave
    Columbus, OH 43219
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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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