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    3349 E Broad St Columbus, OH 43213
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    3349 E Broad St Columbus, OH 43213

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    • Residential income homes
    • 12,738 SF
    For Sale
    $280,000
    View Listing →
    Eastmoor Multifamily Redevelopment Opportunity For Sale
    $280,000
    3,890 SF

    Eastmoor Multifamily Redevelopment Opportunity

    Value-add multifamily property in high-visibility East Broad Street corridor.

    3349 E Broad St, Columbus, OH 43213
    View Listing
    Property ID
    US66-1791303
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 3349 E Broad St

    Property size
    12,738 SF
    Property type
    Residential income homes
    APN
    010-093088, 010-093087, 010-140898, 010-140916, 010-070422

    Description

    This exceptional value-add investment opportunity presents a portfolio of five properties totaling 12,738 square feet in Columbus, Ohio. The portfolio comprises fourteen units, including a mix of one- and two-bedroom apartments and single-family homes, spread across five buildings. Three multifamily buildings contain twelve units, strategically located on East Broad Street (ten units) and Lockbourne Avenue (a duplex). Two additional single-family homes are situated on Abney Road. The portfolio is currently 41.6% occupied, presenting a significant opportunity for a new owner to increase occupancy and property value through renovations and lease-up. The asking price is $1,300,000, translating to $102.06 per square foot. This is a receivership portfolio, and the properties are being sold as a package only

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.91147927
    Latitude
    39.97219443

    Comparable in this City

    • $249,900
      2,700 SF

      12-Unit Apartment Complex Portfolio

      12-unit apartment complex in a prime location in Columbus, OH.
      243 N James Rd, Columbus, OH 43213
      View Details
    • $420,000

      Eastmoor Multifamily Value-Add Opportunity

      Six-unit apartment building in Columbus' Eastmoor neighborhood, offering value-add potential.
      3357-3361 E Broad St, Columbus, OH 43213
      View Details
    • $229,900
      2,700 SF

      12-Unit Apartment Complex Investment

      12-unit apartment complex in a prime location for sale.
      177 N James Rd, Columbus, OH 43213
      View Details
    • $229,900
      2,700 SF

      12-Unit Apartment Complex Investment

      12-unit apartment complex in prime location for sale.
      253 N James Rd, Columbus, OH 43213
      View Details
    • Contact for pricing

      Four-Unit Multifamily Property

      Fully occupied four-unit property near the airport and major routes.
      34 N Hampton Rd, Columbus, OH 43213
      View Details
    • $280,000

      Eastmoor Multifamily Redevelopment Opportunity

      Value-add multifamily property in high-visibility East Broad Street corridor.
      3349 E Broad St, Columbus, OH 43213
      View Details

    Similar Nearby for Sale

    • $249,900
      2,700 SF

      12-Unit Apartment Complex Portfolio

      12-unit apartment complex in a prime location in Columbus, OH.
      243 N James Rd, Columbus, OH 43213
      View Details
    • $420,000

      Eastmoor Multifamily Value-Add Opportunity

      Six-unit apartment building in Columbus' Eastmoor neighborhood, offering value-add potential.
      3357-3361 E Broad St, Columbus, OH 43213
      View Details
    • $229,900
      2,700 SF

      12-Unit Apartment Complex Investment

      12-unit apartment complex in a prime location for sale.
      177 N James Rd, Columbus, OH 43213
      View Details
    • $229,900
      2,700 SF

      12-Unit Apartment Complex Investment

      12-unit apartment complex in prime location for sale.
      253 N James Rd, Columbus, OH 43213
      View Details
    • Contact for pricing

      Four-Unit Multifamily Property

      Fully occupied four-unit property near the airport and major routes.
      34 N Hampton Rd, Columbus, OH 43213
      View Details
    • $280,000

      Eastmoor Multifamily Redevelopment Opportunity

      Value-add multifamily property in high-visibility East Broad Street corridor.
      3349 E Broad St, Columbus, OH 43213
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Opportunities on East Broad

      Retail spaces available within a large shopping center development.
      6791-6977 East Broad St, Columbus, OH 43213
      View Details
    • Contact for pricing

      Commercial Land For Lease

      1.35 AC commercial land available for ground lease.
      3769 E Broad St, Columbus, OH 43213
      View Details
    • Contact for pricing
      4,434 SF

      Retail Space in Strip Center

      Retail space for lease with high visibility and traffic.
      5156-5160 E Main St, Columbus, OH 43213
      View Details
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      3,000 SF

      Retail Space in Growing Area

      Retail space in a rapidly developing Columbus location.
      5780 Hamilton Rd, Columbus, OH 43213
      View Details
    • Contact for pricing
      2,250 SF

      Retail Space Near I-270

      Retail space with high traffic and close to major retailers.
      6144-6156 E Main St, Columbus, OH 43213
      View Details
    • Contact for pricing

      Former Restaurant in Reynoldsburg, OH

      Freestanding 5,516 SF restaurant on 1.2 acres for lease.
      5970 E Main St, Columbus, OH 43213
      View Details
    View Listing
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    Columbus, OH 43213
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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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