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    Property profile & analytics

    2808 Stelzer Rd, Unit 2930 Columbus, OH 43219-3133

    • Community centers
    • 88,702 SF
    • 18.20 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2022
    $24,350,000
    Value Estimations
    $22,460,000
    Show details
    Cap Rate Potential
    4.6%
    Community centers
    Location Intelligence
    Property ID
    US66-3629632
    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

    • El Rodeo (Columbus) / Restaurant

    Property Details for 2808 Stelzer Rd

    Year built
    2008
    Lot size
    18.20 lot acres
    Property size
    88,702 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    520-122666
    APU
    520122666

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $25,655,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,800,000
      6.5%
      $18,275,000
      7%
      $16,970,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,661,000
      Market price range: $3.68M - $19.7M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $20,230,000
      COMMERCIAL (GENERAL)
      $16,370,000
      AUTO REPAIR, GARAGE
      $14,065,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9085
    Latitude
    40.0317
    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
    $830,091
    $3,539,030
    $4,983,230
    $8,522,260
    -
    $10,111,500
    $14,237,800
    $24,349,300

    Comparable in this City

    • Value Estimation
      $995,000
      7,210 SF

      Morse Rd

      MINI-MALL • 7,210 SF
      Morse Rd, Columbus, OH 43219
      View Details
    • Value Estimation
      $10,690,000
      86,432 SF

      4150 Worth Ave, Unit 4207

      MINI-MALL • 86,432 SF
      4150 Worth Ave, Columbus, OH 43219-1535
      View Details
    • Value Estimation
      $12,155,000
      99,060 SF

      3826 Morse Rd, Unit 3864

      MINI-MALL • 99,060 SF
      3826 Morse Rd, Columbus, OH 43219-3014
      View Details
    • Value Estimation
      $2,585,000
      20,226 SF

      4018-4044 Morse Cs

      MINI-MALL • 20,226 SF
      4018-4044 Morse Cs, Columbus, OH 43219
      View Details
    • Value Estimation
      $2,535,000
      20,191 SF

      3876 Townsfair Way, Unit 3888

      SHOPPING CENTER, STRIP CENTER • 20,191 SF
      3876 Townsfair Way, Columbus, OH 43219-6173
      View Details
    • Value Estimation
      $3,445,000
      21,899 SF

      3826 Morse Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 21,899 SF
      3826 Morse Rd, Columbus, OH 43219-3014
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,671 SF

      Freestanding Restaurant Space Near Easton

      Former restaurant space for lease near Easton Town Center.
      4175 Morse Xing, Columbus, OH 43219
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    • $79,000

      Columbus Land: Agler Road Lot

      Build Your Dream Home in Gahanna!
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      Columbus Church and Land Available

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      Columbus Land: Stelzer Road Opportunity

      High-Visibility Land Near Airport
      1822 Stelzer Rd, Columbus, OH 43219
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    • Contact for pricing
      0.09 Acres

      Residential Land in Columbus, OH

      Land available for residential construction in Columbus, Ohio.
      E 7Th Ave, Columbus, OH 43219
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      51,950 SF

      Easton Square Retail Opportunity

      Retail space in dynamic central Ohio shopping center.
      3840-3864 Morse Rd, Columbus, OH 43219
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      Columbus Retail Space For Lease

      552,280 square foot retail property in Columbus, Ohio.
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      552,280 SF

      Easton Market Retail Space Available

      Prime Columbus retail space, multiple units.
      3740 Easton Market, Columbus, OH 43219
      View Details
    • Contact for pricing
      2,313 SF

      Retail Space Near Easton Center

      White-box retail space adjacent to Easton Town Center.
      4030-4038 Morse Rd, Columbus, OH 43219
      View Details
    • $4,000 /Mo
      3,580 SF

      Renovated Flex Space on Rose Avenue

      Move-in ready retail/flex space near downtown Columbus with high visibility.
      818 Rose Ave, Columbus, OH 43219
      View Details
    • Contact for pricing
      7,272 SF

      Easton Restaurant - For Lease

      Prime Easton location, 7,272 SF restaurant.
      3977 Morse Xing, Columbus, OH 43219
      View Details
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    Columbus, OH 43219-3133
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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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