Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    215 Madison Ave Lancaster, OH 43130-3118

    • Investment properties
    • 5,437 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1667035
    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

    • Investment properties

    Property Details for 215 Madison Ave

    Year built
    1900
    Construction
    STEEL FRAME
    Lot size
    0.07 lot acres
    Property size
    5,437 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    053-30862.00
    APU
    533086200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $244,000
      Market price range: $223k - $688k
      AI Estimate
      $296,000
      Market price range: $296k - $869k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.5881
    Latitude
    39.7154
    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
    $3,749
    $6,450
    $34,930
    $41,380
    -
    $18,440
    $99,790
    $118,230

    Comparable in this City

    • Value Estimation
      $245,000
      2,059 SF

      135 6th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,059 SF
      135 6th Ave, Lancaster, OH 43130-2506
      View Details
    • Value Estimation
      $105,000
      2,096 SF

      1416 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,096 SF
      1416 Main St, Lancaster, OH 43130-4008
      View Details
    • Value Estimation
      $170,000
      1,792 SF

      1569 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,792 SF
      1569 Main St, Lancaster, OH 43130-3436
      View Details
    • Value Estimation
      $240,000
      3,460 SF

      1320 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,460 SF
      1320 Main St, Lancaster, OH 43130-4004
      View Details
    • Value Estimation
      $230,000
      4,800 SF

      812 6th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,800 SF
      812 6th Ave, Lancaster, OH 43130-2424
      View Details
    • Value Estimation
      $240,000
      3,640 SF

      261 Cedar Hl Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,640 SF
      261 Cedar Hl Rd, Lancaster, OH 43130-3639
      View Details

    Similar Nearby for Sale

    • $565,222
      6,538 SF

      Lancaster Mixed-Use Investment Opportunity

      Historic Building, Prime Location, High ROI
      355 Main St, Lancaster, OH 43130
      View Details
    • $139,900
      2,406 SF

      Lancaster Mixed-Use Commercial Building

      Spacious building, versatile layout, prime location.
      500 Maple St, Lancaster, OH 43130
      View Details
    • $324,900
      0.24 Acres

      Lancaster Mixed-Use Opportunity

      Versatile mixed-use building in Lancaster's thriving downtown corridor.
      846 E Main St, Lancaster, OH 43130
      View Details
    • $485,000
      15,227 SF

      Lancaster Commercial Multi-Building Property

      Five buildings, 1.69 acres, high potential.
      1022 Old Logan Dr, Lancaster, OH 43130
      View Details
    • Contact for pricing
      924 SF

      Lancaster Mixed-Use Commercial Building

      Renovated Commercial Building, High Traffic Area
      103 Cedar Hill Rd, Lancaster, OH 43130
      View Details
    • $48,500

      Lancaster Land: Prime Downtown Corner Lot

      4,356 sq ft lot, excellent location.
      114 Cedar Ave, Lancaster, OH 43130
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,860 SF

      Lancaster Plaza Retail Space

      High-traffic retail space, excellent visibility.
      1203 Memorial Dr, Lancaster, OH 43130
      View Details
    • Contact for pricing
      4,515 SF

      River Valley Plaza Retail Space

      High-traffic retail space available for sublease.
      1400 River Valley Blvd, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Land For Rent Lancaster, OH

      Land available for rent in Lancaster, Ohio.
      2845 Columbus Lancaster Rd NW, Lancaster, OH 43130
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Lancaster Corridor

      1,200 SF retail space in a prominent retail corridor.
      1185-1259 Memorial Dr, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Commercial Pad Site for Lease

      Commercial land available for ground lease in Lancaster, Ohio.
      1355 Ety Pointe Dr NW, Lancaster, OH 43130
      View Details
    • $14 SF/Yr
      23,159 SF

      Lancaster Medical Office Building

      Prime Lancaster medical space available.
      2405 Columbus St, Lancaster, OH 43130
      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.
    215 Madison Ave
    Lancaster, OH 43130-3118
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.