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    Property profile & analytics

    2519 Franksway St, Unit 2551 Columbus, OH 43232-4204

    • Strip malls
    • 31,351 SF
    • 3.90 lot acres
    OFF-MARKET
    Value Estimations
    $3,360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1621794
    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

    • US Seireikai Kyokushin Karate / Sports School

    Property Details for 2519 Franksway St

    Year built
    1974
    Lot size
    3.90 lot acres
    Property size
    31,351 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    010-136748
    APU
    10136748

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,390,000
      Current use
      AUTO REPAIR, GARAGE
      $4,970,000
      Change: +47% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,545,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $4,475,000
      Change: +32% Conversion: Moderate
      MEDICAL BUILDING
      $4,235,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $3,365,000
      Change: -1% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,045,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8819
    Latitude
    39.9225
    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
    $54,806
    $238,040
    $512,230
    $750,270
    -
    $680,100
    $1,463,500
    $2,143,600

    Comparable in this City

    • Value Estimation
      $1,000,000
      20,081 SF

      5110 Sedalia Dr, Unit 5130

      SHOPPING CENTER, STRIP CENTER • 20,081 SF
      5110 Sedalia Dr, Columbus, OH 43232-6341
      View Details
    • Value Estimation
      $1,630,000
      21,103 SF

      2484 Scarborough Sq, Unit 2556

      SHOPPING CENTER, STRIP CENTER • 21,103 SF
      2484 Scarborough Sq, Columbus, OH 43232-4716
      View Details
    • Value Estimation by Request
      6,983 SF

      3277 Refugee Rd, Unit 3283

      SHOPPING CENTER, STRIP CENTER • 6,983 SF
      3277 Refugee Rd, Columbus, OH 43232-4811
      View Details
    • Value Estimation
      $535,000
      9,234 SF

      2301 Hamilton Rd, Unit 2355

      SHOPPING CENTER, STRIP CENTER • 9,234 SF
      2301 Hamilton Rd, Columbus, OH 43232-4305
      View Details
    • Value Estimation
      $2,010,000
      21,539 SF

      2556 Hamilton Rd, Unit 2592

      SHOPPING CENTER, STRIP CENTER • 21,539 SF
      2556 Hamilton Rd, Columbus, OH 43232-4952
      View Details
    • Value Estimation
      $4,155,000
      35,140 SF

      2561 Hamilton Rd, Unit 2595

      SHOPPING CENTER, STRIP CENTER • 35,140 SF
      2561 Hamilton Rd, Columbus, OH 43232-4964
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,915 SF

      Refugee Road 8-Bay Car Wash

      8-bay car wash suitable for auto detailing and tire services.
      3850 Refugee Rd, Columbus, OH 43232
      View Details
    • $1,550,000
      1,789 SF

      Columbus Tim Hortons NNN Lease

      High-yield Tim Hortons investment. 8.5 years remaining.
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    • Contact for pricing
      3,915 SF

      Eight-Bay Car Wash on Refugee

      Car wash with equipment included, suitable for auto services.
      3850 Refugee Rd, Columbus, OH 43232
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    • $5,200,000
      70,132 SF

      Freestanding Office/Warehouse or Retail Facility

      70,130 SF building on 8.13 acres near major highways.
      4001 Refugee Rd, Columbus, OH 43232
      View Details
    • $89,000
      6,320 SF

      Retail Space in Columbus, OH

      Retail space available for sale in Columbus, Ohio.
      4996 Lindora Dr, Columbus, OH 43232
      View Details
    • $3,900,000

      High-Traffic Corner Land Opportunity

      Corner land with high visibility and new zoning possibilities.
      4375 Refugee Rd, Columbus, OH 43232
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space in High-Traffic Center

      Retail space for lease in a high-traffic Reynoldsburg center.
      6110-6126 Mcnaughten Ctr, Columbus, OH 43232
      View Details
    • $1,300 /Mo
      633 SF

      Retail Space Available For Rent

      Retail space for rent featuring approximately 633 square feet.
      4992-4998 Lindora Dr, Columbus, OH 43232
      View Details
    • $7 SF/Yr
      121,401 SF

      Winchester Pike Retail Center

      Columbus, Ohio: Prime Retail Space Available
      2837 Winchester Pike, Columbus, OH 43232
      View Details
    • $5 SF/Yr
      70,132 SF

      Freestanding Office/Warehouse or Retail Building

      70,130 SF facility with office space, loading canopy, and accessibility.
      4001 Refugee Rd, Columbus, OH 43232
      View Details
    • $1,450 /Mo

      Retail Space in Hamilton Center

      Retail space for rent in high-traffic Hamilton Road location.
      3156 S Hamilton Rd, Columbus, OH 43232
      View Details
    • Contact for pricing
      4,741 SF

      Retail Space on Hamilton Road

      Retail spaces available along a high-traffic corridor in Columbus, OH.
      4245 Macsway Ave, Columbus, OH 43232
      View Details
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    Columbus, OH 43232-4204
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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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