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    Property profile & analytics

    228 Park Rd Columbus, OH 43235-6426

    • Auto shops
    • 4,046 SF
    • 1.82 lot acres
    OFF-MARKET
    Last Sale
    Mar 22, 2023
    $950,000
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2405629
    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

    • ER Autocare Polaris / Auto Repair Shop / Auto Electrical Service

    Property Details for 228 Park Rd

    Year built
    1973
    Construction
    WOOD
    Lot size
    1.82 lot acres
    Property size
    4,046 SF
    Property type
    Auto shops
    APN
    250-000017
    APU
    250000017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $980,000
      ML approach
      $930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $943,000
      Market price range: $296k - $1.14M
      AI Estimate
      $687,000
      Market price range: $231k - $744k

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0055
    Latitude
    40.1279
    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
    $19,629
    $128,170
    $48,200
    $176,370
    -
    $366,200
    $137,700
    $503,900

    Comparable in this City

    • Value Estimation
      $320,000
      3,000 SF

      2396 Dublin Granville Rd

      AUTO REPAIR, GARAGE • 3,000 SF
      2396 Dublin Granville Rd, Columbus, OH 43235-2709
      View Details
    • Value Estimation
      $400,000
      27,766 SF

      2455 Billingsley Rd, Unit 2475

      VEHICLE SALES, RENTALS • 27,766 SF
      2455 Billingsley Rd, Columbus, OH 43235-1925
      View Details
    • Value Estimation
      $310,000
      738 SF

      7750 Olentangy Riv Rd

      SERVICE STATION WITH FOOD MART • 738 SF
      7750 Olentangy Riv Rd, Columbus, OH 43235-1317
      View Details
    • Value Estimation
      $340,000
      3,085 SF

      7810 Olentangy Riv Rd

      SERVICE STATION (FULL SERVICE) • 3,085 SF
      7810 Olentangy Riv Rd, Columbus, OH 43235-1354
      View Details
    • Value Estimation
      $925,000
      62,877 SF

      7250 Sawmill Rd

      VEHICLE SALES, RENTALS • 62,877 SF
      7250 Sawmill Rd, Columbus, OH 43235-1942
      View Details
    • Value Estimation
      $9,430,000
      27,729 SF

      2441 Billingsley Rd

      VEHICLE SALES, RENTALS • 27,729 SF
      2441 Billingsley Rd, Columbus, OH 43235-1925
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,970 SF

      Restaurant Sale-Leaseback Investment Opportunity

      NNN lease investment with established restaurant tenant and strong performance.
      3000 Hayden Rd, Columbus, OH 43235
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    • Contact for pricing

      Retail Space in Dublin, Ohio

      Prime corner location near hospital and major retailers.
      7400-7454 Sawmill Rd, Columbus, OH 43235
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      11,200 SF

      Freestanding Restaurant in Prime Location

      Freestanding restaurant at a busy intersection near major retailers.
      3710 W Dublin Granville Rd, Columbus, OH 43235
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    • $1,900,000
      2.60 Acres

      Hayden Crossing Retail Land

      Columbus, OH: Prime Retail Opportunity
      6674 Hayden Run Rd, Columbus, OH 43235
      View Details
    • $1,208,333
      510 SF

      New Construction NNN Ground Lease

      New construction NNN ground lease in affluent Columbus submarket.
      8380 N High St, Columbus, OH 43235
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    • Contact for pricing
      25,344 SF

      Caine Road Office Park Investment

      Columbus Office Complex: 22 Suites, 100% Leased
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    Similar Nearby for Lease

    • $10 SF/Yr
      115,236 SF

      Three Crosswoods Center Retail

      Worthington, OH retail space available
      200 Campus View Blvd, Columbus, OH 43235
      View Details
    • $16 SF/Yr
      1,133 SF

      Retail Space on Route 23

      Retail space with visibility on Route 23 in Columbus.
      10-120 N Dillmont Dr, Columbus, OH 43235
      View Details
    • $9 SF/Yr
      23,371 SF

      Columbus Office Space for Lease

      Prime Office & Retail, Columbus, OH
      1 Campus View Blvd, Columbus, OH 43235
      View Details
    • Contact for pricing
      6,070 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility on Route 23 available for rent.
      80 Dillmont Dr, Columbus, OH 43235
      View Details
    • $16 SF/Yr
      6,070 SF

      Retail Space on Route 23

      Retail space available at fully signalized intersection on Route 23.
      10 Dillmont Dr, Columbus, OH 43235
      View Details
    • Contact for pricing
      194,691 SF

      Sawmill Plaza Retail Space Available

      Columbus Shopping Center: 3,000 SF Available
      2582-2680 Sawmill Place Blvd, Columbus, OH 43235
      View Details
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    228 Park Rd
    Columbus, OH 43235-6426
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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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