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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Flex space
2120 Advance Ave Columbus, OH 43207-1722
Entity Owned
2-yr Hold
Property ID
US66-0449497
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1988
Construction
WOOD
Total area
2,880 SF
Lot
0.82 ac (35,676 SF)
APN
010-213478
UPID
US66-0449497
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
Current use
Occupant on record · Public records
-
Anderson’s Aluminum Weld Corporation Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
$515k
Comparable Approach
Comparable
$424k
Blend (final)
Blend
$570k
Owner & transaction history
Lxu Columbus Re Holdings LLC · 2 yrs held
Lxu Columbus Re Holdings LLC
since 2023
Last sale
$570,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$455,000
+77.2%
Office building
$410,000
+59.5%
Medical building
$390,000
+50.9%
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
$585,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$515,000
7%
$480,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$455,000
Change: +77% · Conversion: Easy
OFFICE BUILDING
$410,000
Change: +60% · Conversion: Difficult
MEDICAL BUILDING
$390,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $570k (Dec 19 2023)
Last sale anchor
$570k
Dec 19 2023
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
$198 / 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
$4,628
Tax year 2023
Assessed value
$63,360
Assessed 2023
Previous assessed
$173,260
-63.4% YoY
Effective rate
7.30%
On assessed value
Assessed land
$12,850
Assessed improvement
$50,510
Land market value
$36,700
Improvement market value
$144,300
Total market value
$181,000
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
1988
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
2,880 SF
Lot
0.82 ac (35,676 SF)
APN
010-213478
UPID
US66-0449497
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$455,000
OFFICE BUILDING
Est. value
$410,000
MEDICAL BUILDING
Est. value
$390,000
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
Lxu Columbus Re Holdings LLC
Entity
Mailing address
486 WINDSOR PARK DR, DAYTON, OH 45459-4111
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2023
$570,000
Lxu Columbus Re Holdings LLC
Red Shark Holdings LLC
Warranty Deed
$456,000 · Civista Bank
Sep 30, 2021
$495,000
Red Shark Holdings LLC
Kathleen M Weber
Warranty Deed
$371,250 · Heartland Bank
Aug 17, 2017
—
Kathleen M Weber
—
Deed
related
$100,000 · John H Zerwick
Feb 24, 2009
—
Kathleen M Weber
—
Deed Of Trust
related
$1,500,000 · Firstmerit Bank NA
Aug 31, 1999
$150,000
James A Weber
Contosta,betty A
Grant Deed
$120,000 · Commerce Bank
—
—
Kathleen M Weber
—
Deed Of Trust
related
$100,000 · John H Zerwick
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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