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Property profile & analytics
FOR LEASE
Strip malls
2556 S Hamilton Rd Columbus, OH 43232
Entity Owned
8-yr Hold
Free & Clear
Property ID
US66-2197550
For Lease
$2,010,000
2556 S Hamilton Rd, Columbus, OH 43232
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1971
Total area
21,539 SF
Lot
8.3 ac (361,722 SF)
APN
010-118450
UPID
US66-2197550
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.58M
Blend (final)
Blend
$2.01M
Owner & transaction history
City Of Columbus · 8 yrs held
City Of Columbus
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.1M
+34.1%
Office building
$3.1M
+32.1%
Medical building
$2.9M
+24.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,330,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,120,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$3,075,000
Change: +32% · Conversion: Moderate
MEDICAL BUILDING
$2,910,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$2,310,000
Change: -1% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,090,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$2.01M
Range $1.81M – $2.21M · ±10%
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
$93 / 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
$26,153
Tax year 2023
Assessed value
$358,020
Assessed 2023
Previous assessed
$308,530
+16.0% YoY
Effective rate
7.30%
On assessed value
Assessed land
$253,190
Assessed improvement
$104,830
Land market value
$723,400
Improvement market value
$299,500
Total market value
$1,022,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1971
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
21,539 SF
Lot
8.3 ac (361,722 SF)
APN
010-118450
UPID
US66-2197550
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
OFFICE BUILDING
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$2.9M
RETAIL STORES
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1971
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
8.3 ac
Current owner
From public records · entity-resolved
City Of Columbus
Entity
Free & Clear · 8 yrs held
Mailing address
250 CIVIC CTR DR STE #500, COLUMBUS, OH 43215-5088
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2018
—
City Of Columbus
Eastland Centre LP
Grant Deed
—
Sep 30, 1999
—
Centre LP Eastland
Crs Joint Venture
Grant Deed
related
—
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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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