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Property profile & analytics
OFF-MARKET
Estimated value
$35,415,000
Retail residential properties
271 State St Columbus, OH 43215
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-0612710
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2019
Total area
245,809 SF
Lot
1.16 ac (50,530 SF)
APN
010-051443
UPID
US66-0612710
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
$43.40M
Comparable Approach
Comparable
$38.80M
Blend (final)
Blend
$35.42M
Owner & transaction history
Alexander Partners LLC · 8 yrs held
Alexander Partners LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$56.1M
+93.8%
Auto repair, garage
$39.0M
+34.7%
Apartment house (5+ units)
$35.6M
+23.2%
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%
$47,010,000
6.5%
$43,395,000
7%
$40,295,000
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
Blend value · Realmo final
$35.42M
Range $31.87M – $38.96M · ±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
$144 / 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
$111,973
Tax year 2023
Assessed value
$11,550,010
Assessed 2023
Previous assessed
$11,550,010
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$1,327,210
Assessed improvement
$10,222,800
Land market value
$3,792,000
Improvement market value
$29,208,000
Total market value
$33,000,000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
2019
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
6
Total area
245,809 SF
Lot
1.16 ac (50,530 SF)
APN
010-051443
UPID
US66-0612710
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
COMMERCIAL (GENERAL) Current
Est. value
$28.9M
RESTAURANT
Est. value
$56.1M
AUTO REPAIR, GARAGE
Est. value
$39.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$35.6M
OFFICE BUILDING
Est. value
$34.8M
MEDICAL BUILDING
Est. value
$33.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.6M
RETAIL STORES
Est. value
$26.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
2019
Heating
YES
Cooling
Yes
Stories
6
Buildings
1
Lot
1.16 ac
Current owner
From public records · entity-resolved
Alexander Partners LLC
Entity
Mailing address
985 N HIGH ST, COLUMBUS, OH 43201-2643
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2017
$675,000
Alexander Partners LLC
Ohio Democratic Party
Warranty Deed
$1,968,750 · Cfbank
Jan 29, 1998
$825,000
Ohio Democratic Party
Arl-cio Building Corp
Grant Deed
$750,000 · State Savings Bank
—
—
Ohio Democratic Party
—
Loan Modification
related
$225,000 · Arlington Bk
—
—
Ohio Democratic Party
—
Deed Of Trust
related
$200,000 · Arlington Bank
—
—
Ohio Democratic Party
—
Deed Of Trust
related
$96,000 · Arlington Bank
—
—
Ohio Democratic Party
—
Deed Of Trust
related
$70,000 · Arlington Bank
—
—
Ohio Democratic Party
—
Deed Of Trust
related
$670,000 · Arlington Bank
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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