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

    271 State St Columbus, OH 43215

    • Retail residential properties
    • 245,809 SF
    • 1.16 lot acres
    OFF-MARKET
    Value Estimations
    $35,415,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0612710
    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

    • Retail residential properties

    Property Details for 271 State St

    Year built
    2019
    Lot size
    1.16 lot acres
    Property size
    245,809 SF
    Property type
    Retail residential properties
    APN
    010-051443
    APU
    10051443

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $47,010,000
      6.5%
      $43,395,000
      7%
      $40,295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $38,800,000
      Market price range: $15.2M - $38.8M
      AI Estimate
      $24,055,000
      Market price range: $5.76M - $25.1M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $28,930,000
      Current use
      RESTAURANT
      $56,055,000
      Change: +94% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $38,980,000
      Change: +35% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $35,630,000
      Change: +23% Conversion: Moderate
      OFFICE BUILDING
      $34,820,000
      Change: +20% Conversion: Easy
      MEDICAL BUILDING
      $33,190,000
      Change: +15% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $26,565,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $26,385,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9931
    Latitude
    39.9606
    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
    $111,973
    $1,327,210
    $10,222,800
    $11,550,010
    -
    $3,792,000
    $29,208,000
    $33,000,000

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      Grubb St

      STORES & APARTMENTS • 0.02 Acres
      Grubb St, Columbus, OH 43215
      View Details
    • Value Estimation
      $25,265,000
      173,562 SF

      203 High St, Unit 213

      STORES & APARTMENTS • 173,562 SF
      203 High St, Columbus, OH 43215-4503
      View Details
    • Value Estimation
      $4,085,000
      28,080 SF

      288 Long St

      STORES & APARTMENTS • 28,080 SF
      288 Long St, Columbus, OH 43215-1814
      View Details
    • Value Estimation
      $3,930,000
      27,000 SF

      260 4th St

      STORES & APARTMENTS • 27,000 SF
      260 4th St, Columbus, OH 43215-5256
      View Details
    • Value Estimation
      $4,070,000
      27,972 SF

      463 High St

      STORES & APARTMENTS • 27,972 SF
      463 High St, Columbus, OH 43215-2083
      View Details
    • Value Estimation
      $570,000
      5,670 SF

      346 High St

      STORES & APARTMENTS • 5,670 SF
      346 High St, Columbus, OH 43215-4510
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      842 SF

      Industrial-Chic Loft in Brewery District

      West-facing loft with industrial vibe, modern amenities, and prime location.
      570 S Front St, Columbus, OH 43215
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    • $559,000
      2,301 SF

      Mixed-Use Office Condo with Cyclorama

      2,301 SF mixed-use condo with cyclorama wall and high ceilings.
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    • $198,900
      0.06 Acres

      Prime Land in Growing Neighborhood

      Mixed-use lot in Franklinton, ideal for residential or commercial development.
      498 W Town St, Columbus, OH 43215
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    • $2,000,000
      38,337 SF

      Downtown Redevelopment Opportunity

      Three buildings totaling 38,337 SF on 0.54 acres.
      171-191 S High St, Columbus, OH 43215
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    • $2,000,000
      38,337 SF

      Downtown Redevelopment Opportunity

      Three buildings totaling 38,337 SF on 0.54 acres.
      171-191 S High St, Columbus, OH 43215
      View Details
    • Contact for pricing
      107,550 SF

      Historic Downtown Mixed-Use Building

      Landmark building with office, retail space, and upscale apartments.
      361 E Broad St, Columbus, OH 43215
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      107,550 SF

      Downtown Columbus Creative Office Space

      Historic building, flexible suites, prime location.
      361 Broad St, Columbus, OH 43215
      View Details
    • Contact for pricing
      198,104 SF

      Class A Office Space Available

      Class A office space in a vibrant mixed-use development.
      555 Edgar Waldo Way, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,757 SF

      East Franklinton Mixed-Use Development Retail

      New retail spaces in a mixed-use development in East Franklinton.
      417-471 W Rich St, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,090 SF

      Downtown Columbus Mixed-Use Development

      Mixed-use development with retail space and strong co-tenancy.
      190 South High St, Columbus, OH 43215
      View Details
    • Contact for pricing
      1,683 SF

      East Franklinton Mixed-Use Development Retail

      New retail space in East Franklinton's mixed-use development.
      401 W Rich St, Columbus, OH 43215
      View Details
    • Contact for pricing
      2,635 SF

      Retail Space in Mixed-Use Center

      Retail space available in high-traffic, mixed-use development.
      1072-1076 Dublin Rd, Columbus, OH 43215
      View Details
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    271 State St
    Columbus, OH 43215
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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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