Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    243 S Central Ave Columbus, OH 43223
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    243 S Central Ave Columbus, OH 43223

    View on Map
    • Residential land & home lots
    Off-Market
    Property ID
    US66-0144231
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 243 S Central Ave

    Property type
    Residential land & home lots

    Description

    Another incredible property proudly marketed by DeLena Ciamacco! Build Your Home Here! Located Near Franklinton, This .09 Acre Lot Is Nestled Between Central Ave. And S. Rich Street Avenues And Is Surrounded By Existing Homes. Close To Freeways, Shops, Schools, And Downtown Columbus. All Utilities Available. Water, Sewer, Electric And Gas Are Available (Buyer To Be Responsible For Any Tap Fees). All Builders Are Welcome. Columbus Schools. Only $44,900! Visit www.delena.com for additional details.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0374532
    Latitude
    39.952719

    Comparable in this City

    • New
      Contact for pricing
      0.15 Acres

      Columbus Vacant Lot Opportunity

      Vacant lot in Columbus, suitable for new construction.
      1947 Hopkins Ave, Columbus, OH 43223
      View Details
    • Contact for pricing
      0.13 Acres

      Land in Developing Columbus Area

      Land available in a developing area of Columbus, Ohio.
      1200 Campbell Ave, Columbus, OH 43223
      View Details
    • Contact for pricing

      Buildable Lot in Southwestern District

      Buildable lot with utilities available in Southwestern school district.
      Ransburg Ave, Columbus, OH 43223
      View Details
    • $162,500

      Columbus Commercial Land For Sale

      Commercial land in Columbus with high traffic count.
      1200 Frank Rd, Columbus, OH 43223
      View Details
    • $1,995,000

      Columbus Industrial Land For Sale

      6.75 acres of industrial land ready for development.
      1967 Jackson Rd, Columbus, OH 43223
      View Details
    • $35,000
      0.08 Acres

      Land in Growing Franklinton

      Prime land in revitalizing Franklinton, eligible for tax abatement.
      Campbell Ave, Columbus, OH 43223
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.13 Acres

      Land in Developing Columbus Area

      Land available in a developing area of Columbus, Ohio.
      1200 Campbell Ave, Columbus, OH 43223
      View Details
    • New
      Contact for pricing
      0.15 Acres

      Columbus Vacant Lot Opportunity

      Vacant lot in Columbus, suitable for new construction.
      1947 Hopkins Ave, Columbus, OH 43223
      View Details
    • $35,000
      0.08 Acres

      Land in Growing Franklinton

      Prime land in revitalizing Franklinton, eligible for tax abatement.
      Campbell Ave, Columbus, OH 43223
      View Details
    • $189,583

      Columbus Commercial Land Opportunity

      Commercial land at a high-traffic Columbus intersection.
      1278 Frank Rd, Columbus, OH 43223
      View Details
    • $34,800

      Land Available in Franklin County

      Land for sale in Franklin County, Ohio.
      1200 Campbell Ave, Columbus, OH 43223
      View Details
    • Contact for pricing
      0.07 Acres

      Vacant Land in Franklinton, Columbus

      Vacant lot in growing Franklinton near downtown Columbus.
      456 S Princeton Ave, Columbus, OH 43223
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Largest Infill Land Parcel

      291+ acres near I-270 with potential tax abatement.
      800 Frank Rd, Columbus, OH 43223
      View Details
    • Contact for pricing

      Commercial Land on Harrisburg Pike

      0.88 acre commercial land for rent in retail corridor.
      1470 Harrisburg Pike, Columbus, OH 43223
      View Details
    • Contact for pricing

      Industrial Outdoor Storage Opportunity

      Industrial outdoor storage with small office and truck scale access.
      777 Frank Rd, Columbus, OH 43223
      View Details
    • Contact for pricing
      1,482 SF

      Retail Space in Southwest Square

      Open strip center with frontage on Harrisburg Pike and Eakin Road.
      2117-2177 Eakin Rd, Columbus, OH 43223
      View Details
    • Contact for pricing

      Freestanding Building in Redevelopment Location

      Freestanding building with ample parking and easy highway access.
      1082 West Mound St, Columbus, OH 43223
      View Details
    • Contact for pricing

      Versatile Flex Space for Rent

      1,200 SF unit with office and warehouse space available.
      1520 Harmon Ave, Columbus, OH 43223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    243 S Central Ave
    Columbus, OH 43223
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!