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

    2041 Riverside Dr Upper Arlington, OH 43221-4024

    • Office buildings
    • 7,472 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Apr 15, 2024
    $1,200,000
    Value Estimations
    $1,285,000
    Show details
    Cap Rate Potential
    7.2%
    Office buildings
    Location Intelligence
    Property ID
    US66-1293816
    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

    • Office buildings

    Property Details for 2041 Riverside Dr

    Year built
    1965
    Lot size
    0.46 lot acres
    Property size
    7,472 SF
    Property type
    Office buildings
    APN
    070-012912
    APU
    70012912

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,280,000
      ML approach
      $1,325,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,535,000
      6.5%
      $1,415,000
      7%
      $1,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,290,000
      Market price range: $563k - $1.65M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,065,000
      Current use
      RESTAURANT
      $1,705,000
      Change: +60% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,185,000
      Change: +11% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,085,000
      Change: +2% Conversion: Easy
      MEDICAL BUILDING
      $1,010,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Upper Arlington
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0742
    Latitude
    39.9967
    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
    $25,979
    $139,970
    $182,460
    $322,430
    -
    $399,900
    $521,300
    $921,200

    Comparable in this City

    • Value Estimation by Request
      3,152 SF

      1286 Ln Ave

      OFFICE BUILDING • 3,152 SF
      1286 Ln Ave, Columbus, OH 43221-3547
      View Details
    • Value Estimation
      $7,790,000
      56,880 SF

      1480 Ln Ave

      OFFICE BUILDING (MULTI-STORY) • 56,880 SF
      1480 Ln Ave, Columbus, OH 43221-3919
      View Details
    • Value Estimation
      $1,015,000
      7,561 SF

      1600 Fishinger Rd

      OFFICE BUILDING • 7,561 SF
      1600 Fishinger Rd, Upper Arlington, OH 43221-2109
      View Details
    • Value Estimation
      $1,390,000
      11,800 SF

      1670 Fishinger Rd

      OFFICE BUILDING • 11,800 SF
      1670 Fishinger Rd, Upper Arlington, OH 43221-1446
      View Details
    • Value Estimation
      $4,195,000
      30,039 SF

      931 Chatham Ln

      OFFICE BUILDING (MULTI-STORY) • 30,039 SF
      931 Chatham Ln, Columbus, OH 43221-2417
      View Details
    • Value Estimation
      $810,000
      7,472 SF

      2029 Riverside Dr

      OFFICE BUILDING • 7,472 SF
      2029 Riverside Dr, Upper Arlington, OH 43221-4057
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      55 SF

      Three-Story Office Building For Sale

      55,960 SF office building with high visibility and ample parking.
      941 Chatham Ln, Columbus, OH 43221
      View Details
    • Contact for pricing

      Stabilized Office Building Near OSU

      Fully stabilized office building close to Upper Arlington and OSU.
      921 Chatham Ln, Columbus, OH 43221
      View Details
    • $260,000

      Condominium Backing onto Green Space

      Serene condominium with green space views, community pool, and amenities.
      2782 Chateau Cir S, Columbus, OH 43221
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    • $450,000

      Columbus Duplex - Prime Investment

      Two-unit apartment building, Hilliard schools.
      3731-3733 Heatherglen Dr, Columbus, OH 43221
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    • $299,900
      1,670 SF

      Stunning 2-Bedroom Condominium

      Serene 2-bedroom, 2-bath condominium with open concept and natural light.
      3127 Griggsview Ct, Columbus, OH 43221
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    Similar Nearby for Lease

    • $22 SF/Yr
      2,846 SF

      Riverside Drive Office Space Available

      Office space for rent in Upper Arlington near amenities.
      2140-2144 Riverside Dr, Columbus, OH 43221
      View Details
    • $25 SF/Yr
      21,718 SF

      New Mixed-Use Development Available

      New office and retail spaces for lease in Upper Arlington.
      3700 Riverside Dr, Upper Arlington, OH 43221
      View Details
    • $1,466 /Mo
      329 SF

      Renovated Office Space on Riverside

      Newly renovated office space with high ceilings and natural light.
      2029 Riverside Dr, Columbus, OH 43221
      View Details
    • Contact for pricing
      184,280 SF

      Lane Avenue Medical Office Space

      Upper Arlington medical office suites available.
      0 Ln Ave. & Beaumont Rd, Upper Arlington, OH 43221
      View Details
    • $35 SF/Yr
      11,100 SF

      New Office Space Available

      Unoccupied office space available for rent in Columbus, Ohio.
      1672-1690 W Lane Ave, Columbus, OH 43221
      View Details
    • $20 SF/Yr
      2,513 SF

      Upper Arlington Office Space Sublease

      Sublease available in Upper Arlington with immediate occupancy and free parking.
      3380 Tremont Rd, Upper Arlington, OH 43221
      View Details
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    2041 Riverside Dr
    Upper Arlington, OH 43221-4024
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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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