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

    2297-2299 Ayers Dr Reynoldsburg, OH 43068

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0836366
    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

    • Small apartment buildings

    Property Details for 2297-2299 Ayers Dr

    Year built
    1986
    Property type
    Small apartment buildings

    Description

    This exceptional investment opportunity presents a beautifully renovated brick duplex located at 2297-2299 Ayers Drive in Reynoldsburg, Ohio, 43068. Built in 1986 and completely renovated in 2023, this property boasts two spacious units, each offering a comfortable and modern living experience. Each unit features a generous living room, an eat-in kitchen, a convenient powder room on the main floor, two large bedrooms, and a full bathroom upstairs. A full basement provides ample storage space. Adding to the appeal are private one-car garages and patios, along with a sizable rear yard (14,810.4 sq ft lot). Currently, one unit commands a monthly rent of $1495 on a month-to-month lease, while the other unit is projected to achieve the same rental rate of $1495 starting August 20, 2024. This fully rented duplex presents a strong cash flow potential. The property's prime location offers easy access to major freeways, enhancing its desirability and convenience. The asking price for this turnkey investment is $380,000. This is a rare opportunity to acquire a high-quality, fully renovated multifamily property in a desirable location with excellent rental income potential. Don't miss out on this exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Reynoldsburg
    County
    Franklin
    State
    Ohio
    Longitude
    -82.826784
    Latitude
    39.934411

    Comparable in this City

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      Reynoldsburg Land Development Opportunity

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    • $425,000
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      Reynoldsburg Mixed-Use Office Building

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    • $650,000
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      Reynoldsburg Commercial Building

      Prime East Columbus Location, $650K
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    • $340,000
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      East Main Street Office Building

      Well-preserved office building in Reynoldsburg's historic district.
      7449 E Main St, Reynoldsburg, OH 43068
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    • $149,900
      0.86 Acres

      Prime Reynoldsburg Farm Land

      0.86-acre farm, buildable, $149,900
      0 Main St, Reynoldsburg, OH 43068
      View Details

    Similar Nearby for Sale

    • New
      $529,000
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      Reynoldsburg Land Development Opportunity

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      Tussing Rd, Reynoldsburg, OH 43068
      View Details
    • $149,900
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      Prime Reynoldsburg Farm Land

      0.86-acre farm, buildable, $149,900
      0 Main St, Reynoldsburg, OH 43068
      View Details
    • $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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    • $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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    • $1,700,000
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      Free Standing Retail Building

      10,720 SF retail building on 1.64 acres.
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    Similar Nearby for Lease

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      Retail Space in Power Center

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    • $25 SF/Yr
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      Freestanding Office Building on Main

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      7449 E Main St, Reynoldsburg, OH 43068
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    • $12 SF/Yr
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      Versatile Industrial Space Available

      11,008 SF industrial space for lease in East Columbus.
      3051 Delta Marine Dr, Reynoldsburg, OH 43068
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      3,678 SF

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      1,950 SF

      Industrial Building on US 40

      Multi-tenant industrial building near I-270 available for rent.
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    2297-2299 Ayers Dr
    Reynoldsburg, OH 43068
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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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