Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    343 Central Ave Franklin, OH 45005-7302

    • Auto shops
    • 1,200 SF
    • 0.99 lot acres
    OFF-MARKET
    Last Sale
    Feb 10, 2023
    $1,650,000
    Value Estimations
    $1,575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2580463
    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

    • Lake Freedom Fishing Club / Fishing Club
    • Phil's Auto / Auto Repair Shop / Auto Electrical Service

    Property Details for 343 Central Ave

    Year built
    1992
    Construction
    CONCRETE
    Lot size
    0.99 lot acres
    Property size
    1,200 SF
    Property type
    Auto shops
    APN
    01-34-302-024-0
    APU
    1343020240

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,485,000
      ML approach
      $1,515,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Warren
    State
    Ohio
    Longitude
    -84.3058
    Latitude
    39.5746
    CBSA code
    17140
    CBSA name
    CINCINNATI-MIDDLETOWN, OH-KY-IN 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
    $19,972
    $51,765
    $452,970
    $504,735
    -
    $147,900
    $1,294,200
    $1,442,100

    Comparable in this City

    • Value Estimation by Request
      1,368 SF

      295 Central Ave

      AUTO REPAIR, GARAGE • 1,368 SF
      295 Central Ave, Franklin, OH 45005-7303
      View Details
    • Value Estimation by Request
      1,189 SF

      4500 Dixie Hwy

      AUTO REPAIR, GARAGE • 1,189 SF
      4500 Dixie Hwy, Franklin, OH 45005-5313
      View Details
    • Value Estimation
      $895,000
      5,500 SF

      1380 2nd St

      AUTO REPAIR, GARAGE • 5,500 SF
      1380 2nd St, Franklin, OH 45005-1850
      View Details
    • Value Estimation by Request
      2,184 SF

      4201 Routt Ln, Unit 122

      AUTO REPAIR, GARAGE • 2,184 SF
      4201 Routt Ln, Franklin, OH 45005
      View Details
    • Value Estimation by Request
      1,290 SF

      939 Main St

      AUTO REPAIR, GARAGE • 1,290 SF
      939 Main St, Franklin, OH 45005-2732
      View Details
    • Value Estimation by Request
      4,360 SF

      875 Main St

      AUTO REPAIR, GARAGE • 4,360 SF
      875 Main St, Franklin, OH 45005-1648
      View Details

    Similar Nearby for Sale

    • $199,900

      Downtown Retail Space Opportunity

      Retail space in Franklin's revitalization area, ready for business.
      14 E 4Th St, Franklin, OH 45005
      View Details
    • $200,000
      1,820 SF

      Dixie Highway Commercial Opportunity

      Rehabbed shell on 0.57 acres ready for custom finish.
      9620 Dixie Hwy, Franklin, OH 45005
      View Details
    • Contact for pricing
      6.00 Acres

      Franklin Springs Industrial Land

      Ohio Industrial Land: Build-to-Suit Available
      0 Shotwell Dr, Franklin, OH 45005
      View Details
    • Contact for pricing
      6.05 Acres

      North Pointe Commerce Center Land

      Prime I-75 Ohio land, ideal for development.
      0 Un Rd, Carlisle, OH 45005
      View Details
    • Contact for pricing
      4.10 Acres

      Heritage Business Park Land

      Franklin, OH: Prime Commercial/Industrial Land
      0 Commerce Center Dr, Franklin, OH 45005
      View Details
    • $907,500

      Land Suitable for Development

      Land suitable for corporate, industrial, medical, and R&D uses.
      Union Rd, Franklin, OH 45005
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Kohl's Pad Site, Middletown, OH

      Prime Retail Pad, 1 Acre, Middletown
      6825 Roosevelt Ave, Middletown, OH 45005
      View Details
    • Contact for pricing
      12,970 SF

      Former CVS Building For Lease

      12,970 SF building suitable for office or retail use.
      3445 Union Rd, Franklin, OH 45005
      View Details
    • $1,900 /Mo
      2,244 SF

      Downtown Franklin Retail/Office Space

      Spacious retail or office space in historic downtown Franklin, Ohio.
      431-439 S Main St, Franklin, OH 45005
      View Details
    • $2,300 /Mo
      1,188 SF

      Retail Space Under Construction

      Future retail space suitable for shop, restaurant, or coffee shop.
      449 S Main St, Franklin, OH 45005
      View Details
    • $1,100 /Mo
      1,600 SF

      Retail Space in Historical Franklin

      Retail space available in the New Downtown Historical Franklin.
      513-515 S Main St, Franklin, OH 45005
      View Details
    • $14 SF/Yr
      58,165 SF

      Middletown Retail Center Opportunity

      Prime Ohio retail space, I-75 access.
      3455 Towne Blvd, Middletown, OH 45005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    343 Central Ave
    Franklin, OH 45005-7302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.