Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2612 Elmore Dr Springfield, OH 45505-2764

    • Retail space
    • 2,708 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Aug 06, 2020
    $75,000
    Value Estimations
    $75,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5240538
    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

    • Premium Blends Salon and Barber Shop / Barber Shop / Beauty Salon
    • Snatched Body Sculpting / Weight Loss Service
    • Nickoles Kontoring / Body Shaping Class

    Property Details for 2612 Elmore Dr

    Year built
    1952
    Construction
    BRICK
    Lot size
    0.16 lot acres
    Property size
    2,708 SF
    Property type
    Retail space
    APN
    340-07-00022-400-019
    APU
    3400700022400019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $75,000
      ML approach
      $100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $120,000
      Market price range: $73.5k - $216k

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.7701
    Latitude
    39.9129
    CBSA code
    44220
    CBSA name
    SPRINGFIELD, 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
    $1,889
    $7,150
    $18,880
    $26,030
    -
    $20,440
    $53,930
    $74,370

    Comparable in this City

    • Value Estimation
      $260,000
      1,440 SF

      2502 High St

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      2502 High St, Springfield, OH 45505-1411
      View Details
    • Value Estimation
      $320,000
      5,850 SF

      5975 National Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,850 SF
      5975 National Rd, Springfield, OH 45505-1854
      View Details
    • Value Estimation
      $255,000
      1,150 SF

      802 Southern Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,150 SF
      802 Southern Ave, Springfield, OH 45505-3128
      View Details
    • Value Estimation
      $295,000
      1,744 SF

      1116 Limestone St

      RETAIL STORES (PERSONAL SERVICES) • 1,744 SF
      1116 Limestone St, Springfield, OH 45505-3060
      View Details
    • Value Estimation
      $100,000
      3,600 SF

      219 Buxton Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      219 Buxton Ave, Springfield, OH 45505-1339
      View Details
    • Value Estimation
      $55,000
      2,052 SF

      2521 High St

      RETAIL STORES (PERSONAL SERVICES) • 2,052 SF
      2521 High St, Springfield, OH 45505-1410
      View Details

    Similar Nearby for Sale

    • $690,000
      6,468 SF

      Renovated Duplex - Self-Care Beauty Multi-Plex

      Newly renovated duplex transformed into a self-care beauty multi-plex.
      1701 Lexington Ave, Springfield, OH 45505
      View Details
    • $690,000
      6,468 SF

      Renovated Springfield Duplex: Beauty Multi-Plex

      Newly renovated duplex in Springfield, OH, as a self-care beauty multi-plex.
      1701 Lexington Ave, Springfield, OH 45505
      View Details
    • $154,900
      2,880 SF

      Renovated Commercial Building in Springfield

      Completely renovated commercial building with original charm, ready for business.
      501 York St, Springfield, OH 45505
      View Details
    • $185,000
      1,700 SF

      Eastside Beauty Salon Opportunity

      Turnkey salon with income-generating apartment in Springfield, Ohio.
      1225 Beacon St, Springfield, OH 45505
      View Details
    • $375,000

      Unique Historical Building with Spring

      Historical building with unique features and endless possibilities.
      480 Section St, Springfield, OH 45505
      View Details
    • New
      $525,000
      13,724 SF

      Corner Lot Commercial Package

      Four parcels for sale on the edge of Downtown Springfield.
      400 S Limestone St, Springfield, OH 45505
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      51,257 SF

      Leffel Lane Retail Center Opportunity

      Springfield, OH: 10,860 SF Retail Space Available
      195-205 Leffel Ln, Springfield, OH 45505
      View Details
    • Contact for pricing
      87,120 SF

      315 Leffel Ln

      Land
      315 Leffel Ln, Springfield, OH 45505
      View Details
    • $12 SF/Yr
      27,072 SF

      Springfield Medical Office Building

      Prime Medical Office Space Available
      247 Burnett Rd, Springfield, OH 45505
      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.
    2612 Elmore Dr
    Springfield, OH 45505-2764
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.