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Property profile & analytics
OFF-MARKET
Estimated value
$68,805,000
Warehouses
2190 Creekside Pkwy Lockbourne, OH 43137-9309
Entity Owned
4-yr Hold
Free & Clear
Property ID
US66-1438810
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Total area
767,697 SF
Lot
39.49 ac (1,720,184 SF)
APN
152-001759
UPID
US66-1438810
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$61.82M
Blend (final)
Blend
$68.81M
Owner & transaction history
Rickenbacker West LLC · 4 yrs held
Rickenbacker West LLC
since 2022
Last sale
$70.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$111.3M
+72.1%
Office building
$105.5M
+63.2%
Retail stores
$95.9M
+48.4%
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 Lockbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lockbourne 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
$73,195,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$64,650,000
Current use
APARTMENT HOUSE (5+ UNITS)
$111,285,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$105,510,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$95,940,000
Change: +48% · Conversion: Moderate
Blend value · Realmo final
$68.81M
Range $61.92M – $75.69M · ±10% · vs last sale $70.10M (May 3 2022)
Last sale anchor
$70.10M
May 3 2022
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
$90 / 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
$812,802
Tax year 2023
Assessed value
$12,789,320
Assessed 2023
Previous assessed
$11,550,010
+10.7% YoY
Effective rate
6.36%
On assessed value
Assessed land
$1,313,060
Assessed improvement
$11,476,260
Land market value
$3,751,600
Improvement market value
$32,789,300
Total market value
$36,540,900
Applied tax rate
152.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
767,697 SF
Lot
39.49 ac (1,720,184 SF)
APN
152-001759
UPID
US66-1438810
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
WAREHOUSE, STORAGE Current
Est. value
$64.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$111.3M
OFFICE BUILDING
Est. value
$105.5M
RETAIL STORES
Est. value
$95.9M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
2001
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
39.49 ac
Current owner
From public records · entity-resolved
Rickenbacker West LLC
Entity
Free & Clear · 4 yrs held
Mailing address
100 W MATSONFORD RD250FIVE, RADNOR, PA 19087-4558
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2022
$70,100,000
Rickenbacker West LLC
Rickenbacker West Owner 2 3 LLC
Limited Warranty Deed
—
Dec 29, 2016
—
Big Box Property Owner E LLC
—
Loan Modification
related
$245,400,000 · Wells Fargo Bk
Dec 29, 2015
$31,950,000
Big Box Property Owner F-1 LLC
Exeter 2190 Creekside LLC
Grant Deed
—
Apr 8, 2014
$23,500,000
Exeter 2190 Creekside LLC
Jpmcc 2007-ldp10-tri St Indl
Grant Deed
—
Apr 8, 2014
—
Exeter 2190 Creekside LLC
Exeter 2190 Creekside LLC
Quit Claim Deed
related
$90,000,000 · Bank Of America
Apr 29, 2013
—
Jpmcc 2007-ldp10-tri-state Ind
Industrial Ct Owner LLC
Grant Deed
—
Jan 25, 2007
$31,205,800
Industrial Ct Owner LLC
Us Industrial Reit Trust
Grant Deed
$186,000,000 · Eurohypo Ag Ny Br
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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