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

    2231 Wesley Way Reynoldsburg, OH 43068-8044

    • Hospitals
    • 7,976 SF
    • 3.39 lot acres
    OFF-MARKET
    Value Estimations
    $1,250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2389638
    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

    • Hospitals

    Property Details for 2231 Wesley Way

    Year built
    2001
    Construction
    STEEL FRAME
    Lot size
    3.39 lot acres
    Property size
    7,976 SF
    Property type
    Hospitals
    APN
    045-03792.60
    APU
    450379260

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,575,000
      6.5%
      $1,455,000
      7%
      $1,350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,048,000
      Market price range: $352k - $1.05M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,110,000
      RESTAURANT
      $820,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Reynoldsburg
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.7939
    Latitude
    39.9365
    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
    $0.00
    $402,920
    $535,690
    $938,610
    -
    $1,151,200
    $1,530,550
    $2,681,750

    Comparable in this City

    • Value Estimation by Request
      0.27 Acres

      2225 Taylor Park Dr

      HOSPITAL - PRIVATE • 0.27 Acres
      2225 Taylor Park Dr, Reynoldsburg, OH 43068-8039
      View Details
    • Value Estimation by Request
      0.03 Acres

      Reynoldsburg Baltimore Rd

      HOSPITAL - PRIVATE • 0.03 Acres
      Reynoldsburg Baltimore Rd, Reynoldsburg, OH 43068
      View Details
    • Value Estimation by Request
      0.08 Acres

      7509 Main St

      MEDICAL BUILDING • 0.08 Acres
      7509 Main St, Reynoldsburg, OH 43068-7268
      View Details
    • Value Estimation
      $785,000
      70,283 SF

      8115 Smt Rd

      HOMES (RETIRED, NURSING) • 70,283 SF
      8115 Smt Rd, Reynoldsburg, OH 43068-1382
      View Details
    • Value Estimation
      $3,785,000
      6,396 SF

      1649 Brice Rd

      MEDICAL BUILDING • 6,396 SF
      1649 Brice Rd, Reynoldsburg, OH 43068-2758
      View Details
    • Value Estimation
      $545,000
      4,680 SF

      6899 Main St

      MEDICAL BUILDING • 4,680 SF
      6899 Main St, Reynoldsburg, OH 43068-2249
      View Details

    Similar Nearby for Sale

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    • $600,000
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      Self-Storage Facility on 1.35 Acres

      5,040 SF storage facility with ample outdoor space.
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    • $650,000
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      East Columbus Multi-Use Commercial Building

      Two-story, 4,960 SF building suitable for office or religious use.
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    • $1,700,000
      10,720 SF

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      10,720 SF retail building on 1.64 acres.
      6445 East Main St, Reynoldsburg, OH 43068
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    • $600,000
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      Storage Facility on 1.35 Acres

      5,040 SF storage facility near I-70, ideal for investors.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,678 SF

      Freestanding Restaurant with Drive-Thru

      3,679 SF restaurant with drive-thru in Reynoldsburg, OH.
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      View Details
    • Contact for pricing
      1,950 SF

      Industrial Building on US 40

      Multi-tenant industrial building near I-270 available for rent.
      7492-7508 E Main St, Reynoldsburg, OH 43068
      View Details
    • $12 SF/Yr
      11,008 SF

      Versatile Industrial Space Available

      11,008 SF industrial space for lease in East Columbus.
      3051 Delta Marine Dr, Reynoldsburg, OH 43068
      View Details
    • $1.00 SF/Yr
      132,643 SF

      Reynoldsburg Shopping Center

      Prime Retail Space Available
      6962-7106 Main St, Reynoldsburg, OH 43068
      View Details
    • Contact for pricing
      310,240 SF

      Reynoldsburg Distribution Property for Lease

      Distribution property in Reynoldsburg, Ohio, with convenient access.
      7460 Taylor Rd SW, Reynoldsburg, OH 43068
      View Details
    • Contact for pricing
      919,856 SF

      Reynoldsburg Industrial Property for Lease

      Large industrial space available for lease in Reynoldsburg, Ohio.
      Smt St, Reynoldsburg, OH 43068
      View Details
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    2231 Wesley Way
    Reynoldsburg, OH 43068-8044
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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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