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Property profile & analytics
OFF-MARKET
Estimated value
$4,885,000
Distribution centers
2981 Morse Rd Columbus, OH 43231-6035
Entity Owned
4-yr Hold
Free & Clear
Property ID
US66-2159055
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1975
Total area
35,920 SF
Lot
2.84 ac (123,885 SF)
Zoning code
2981
APN
010-015406
UPID
US66-2159055
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
Current use
Occupant on record · Public records
-
Accessories of Ohio Valley Big Box & Wholesale Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.55M
Blend (final)
Blend
$4.89M
Owner & transaction history
Adw Morse Road LLC · 4 yrs held
Adw Morse Road LLC
since 2021
Last sale
$5.1M
3 recorded transactions
Zoning & alternative use
2981 · Columbus, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.7M
+86.9%
Apartment house (5+ units)
$5.2M
+70.8%
Medical building
$4.9M
+59.1%
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
$4,655,000
ML approach
$4,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,050,000
Current use
AUTO REPAIR, GARAGE
$5,695,000
Change: +87% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,205,000
Change: +71% · Conversion: Difficult
MEDICAL BUILDING
$4,850,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$4,570,000
Change: +50% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,880,000
Change: +27% · Conversion: Moderate
RETAIL STORES
$3,855,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$4.89M
Range $4.40M – $5.37M · ±10% · vs last sale $5.11M (Dec 29 2021)
Last sale anchor
$5.11M
Dec 29 2021
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
$136 / 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
$83,024
Tax year 2023
Assessed value
$1,136,570
Assessed 2023
Previous assessed
$1,310,090
-13.2% YoY
Effective rate
7.30%
On assessed value
Assessed land
$347,490
Assessed improvement
$789,080
Land market value
$992,800
Improvement market value
$2,254,500
Total market value
$3,247,300
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1975
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
35,920 SF
Lot
2.84 ac (123,885 SF)
Zoning code
2981
APN
010-015406
UPID
US66-2159055
Jurisdiction
FRANKLIN
Zoning & alternative use
2981 · Columbus, OHZoning 2981 · permitted uses
2981 · Columbus, OH
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
WAREHOUSE, STORAGE Current
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$4.9M
OFFICE BUILDING
Est. value
$4.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.9M
RETAIL STORES
Est. value
$3.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE 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
1975
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.84 ac
Current owner
From public records · entity-resolved
Adw Morse Road LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2300 MEIJER DR, TROY, MI 48084-7130
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
$5,105,000
Adw Morse Road LLC
Automotive Distributors Co INC
Warranty Deed
—
Feb 13, 2002
—
Automotive Distributors Co INC
—
Deed Of Trust
related
$1,402,500 · Bank One NA
Mar 16, 2000
—
Franklin County Board Commissi
Automotive Distributors Co INC
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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