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Property profile & analytics
FOR LEASE
Community centers
3431 Cleveland Ave Columbus, OH 43224
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-6227587
For Lease
1 / 2
$790,000
3431 Cleveland Ave, Columbus, OH 43224
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1956
Total area
5,160 SF
Lot
14.59 ac (635,628 SF)
APN
130-011854
UPID
US66-6227587
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
-
Clown Cones & Confections Grocery & Convenience Store Specialty Food Shop
-
The Weave Studio Nail Salon
-
SMESH ACOUSTIC (Bike/Boat/Book/etc) Store Printing Service
-
Premier Therapy Center Medical Clinic
-
Industrial Labor Staffing Inc Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$790k
Owner & transaction history
Subway Real Estate Corp · 1 yrs held
Subway Real Estate Corp
since 2025
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+111.0%
Auto repair, garage
$820,000
+46.7%
Apartment house (5+ units)
$750,000
+34.1%
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
by Request
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
$1,150,000
6.5%
$1,065,000
7%
$985,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$560,000
Current use
RESTAURANT
$1,175,000
Change: +111% · Conversion: Difficult
AUTO REPAIR, GARAGE
$820,000
Change: +47% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$750,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$735,000
Change: +32% · Conversion: Moderate
MEDICAL BUILDING
$695,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$500,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$153 / 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
$292,124
Tax year 2023
Assessed value
$3,137,090
Assessed 2023
Previous assessed
$3,137,090
+0.0% YoY
Effective rate
9.31%
On assessed value
Assessed land
$585,310
Assessed improvement
$2,551,780
Land market value
$1,672,300
Improvement market value
$7,290,800
Total market value
$8,963,100
Applied tax rate
130.0000
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1956
Heating
YES
Cooling
CENTRAL
Buildings
6
Stories
1
Total area
5,160 SF
Lot
14.59 ac (635,628 SF)
APN
130-011854
UPID
US66-6227587
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$560,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$820,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$750,000
OFFICE BUILDING
Est. value
$735,000
MEDICAL BUILDING
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$500,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1956
Heating
YES
Cooling
Yes
Stories
1
Buildings
6
Lot
14.59 ac
Current owner
From public records · entity-resolved
Subway Real Estate Corp
Entity
Free & Clear · 1 yrs held
Mailing address
565 TAXTER RD STE #400, ELMSFORD, NY 10523-2379
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2025
—
Subway Real Estate Corp
Northern Lights Improvements INC
Deed
—
Feb 1, 2005
$25,550,000
Northern Lights Improvements LLC
Northern Lights Shopping Center INC
Limited Warranty Deed
$24,800,000 · Jpmorgan Chase Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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