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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Auto shops
2233 Morse Rd Columbus, OH 43229-5820
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US66-6111230
Property summary
AI-generated overview
This Columbus, Ohio, Class A auto shop presents a prime investment opportunity. The 7,320 square foot, single-tenant property is situated on a 0.694-acre lot and boasts 11 service bays. A sale-leaseback of a national franchise automotive care center, the property features a 9.5-year remaining lease (expiring 06/01/2034) with rent bumps every five years. The building, constructed in 1991, has recently undergone significant improvements, including roof and HVAC replacements. The property offers a strong 8.50% cap rate and a substantial net operating income (NOI) of $106,250. The lease is a NNN (triple net) lease, commencing September 1, 2020. This single-story building represents a low-maintenance, high-return investment with a solid tenant and long-term lease. The asking price is $1,250,000, translating to $170.77 per square foot.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1991
Construction
WOOD
Total area
7,320 SF
Lot
0.69 ac (30,231 SF)
APN
010-106899
UPID
US66-6111230
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
-
Milex Complete Auto Care - Mr. Transmission Auto Repair Shop
-
Intoxalock Ignition Interlock Building Supply General Contractor
-
Eco Tree Services Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$1.19M
Owner & transaction history
Schnitker Properties LLC · 1 yrs held
Schnitker Properties LLC
since 2024
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+43.8%
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
$1,190,000
ML approach
$1,190,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,160,000
Current use
RESTAURANT
$1,670,000
Change: +44% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,060,000
Change: -9% · Conversion: Difficult
MEDICAL BUILDING
$990,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±10% · vs last sale $1.19M (Sep 12 2024)
Last sale anchor
$1.19M
Sep 12 2024
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
$163 / 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
$23,154
Tax year 2023
Assessed value
$304,300
Assessed 2023
Previous assessed
$304,300
+0.0% YoY
Effective rate
7.61%
On assessed value
Assessed land
$105,810
Assessed improvement
$198,490
Land market value
$302,300
Improvement market value
$567,100
Total market value
$869,400
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1991
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
7,320 SF
Lot
0.69 ac (30,231 SF)
APN
010-106899
UPID
US66-6111230
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 Current
Est. value
$1.2M
RESTAURANT
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$990,000
AUTO REPAIR, GARAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1991
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Schnitker Properties LLC
Entity
Mailing address
2233 MORSE RD, COLUMBUS, OH 43229-5820
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Sep 12, 2024
$1,190,000
Schnitker Properties LLC
Mddr Enterprises Incorporated
Limited Warranty Deed
$950,000 · Peoples National Bank NA
Sep 25, 2020
$765,000
Mddr Enterprises Incorporated
Blagoi Kostrevski
Deed
$1,000,000 · Berkshire Bank
Feb 2, 2006
$850,000
Blagois International Car Svcs Nort
Joseph William Benedict
Warranty Deed
$850,000 · The Huntington National Bank
Feb 2, 2006
—
Kostrevski,blagoi & Vesela Trust
Blagois Intl Car Svc North L
Quit Claim Deed
related
—
Aug 13, 2003
—
Joseph W Benedict
Benedict,joseph W
Quit Claim Deed
related
—
—
—
Kostrevski,blagoi Living Trust
—
Deed Of Trust
related
$452,848 · Telhio Cu
—
—
Joseph W Benedict
—
Deed Of Trust
related
$200,000 · Heartland Bank
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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