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Property profile & analytics
OFF-MARKET
Estimated value
$9,555,000
Community centers
3487 Cleveland Ave 3551 Columbus, OH 43224-2906
Entity Owned
21-yr Hold
Free & Clear
Property ID
US66-0735777
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1963
Total area
75,224 SF
Lot
14.69 ac (640,027 SF)
Zoning code
3355
APN
130-011856
UPID
US66-0735777
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
-
Simply 10 Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.56M
Owner & transaction history
Northern Lights Ancillary LLC · 21 yrs held
Northern Lights Ancillary LLC
since 2005
3 recorded transactions
Zoning & alternative use
3355 · Columbus, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.9M
+46.7%
Apartment house (5+ units)
$10.9M
+34.1%
Office building
$10.7M
+32.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$8,130,000
Current use
AUTO REPAIR, GARAGE
$11,930,000
Change: +47% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,905,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$10,735,000
Change: +32% · Conversion: Moderate
MEDICAL BUILDING
$10,155,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,305,000
Change: -10% · Conversion: Easy
RETAIL STORES
$6,575,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$9.56M
Range $8.60M – $10.51M · ±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
$127 / 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
$257,424
Tax year 2023
Assessed value
$2,764,450
Assessed 2023
Previous assessed
$2,764,450
+0.0% YoY
Effective rate
9.31%
On assessed value
Assessed land
$589,160
Assessed improvement
$2,175,290
Land market value
$1,683,300
Improvement market value
$6,215,100
Total market value
$7,898,400
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
Off-Market
Year built
1963
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
75,224 SF
Lot
14.69 ac (640,027 SF)
Zoning code
3355
APN
130-011856
UPID
US66-0735777
Jurisdiction
FRANKLIN
Zoning & alternative use
3355 · Columbus, OH
Zoning 3355 · permitted uses
3355 · Columbus, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Columbus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$11.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.9M
OFFICE BUILDING
Est. value
$10.7M
MEDICAL BUILDING
Est. value
$10.2M
COMMERCIAL (GENERAL)
Est. value
$7.3M
RETAIL STORES
Est. value
$6.6M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1963
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
14.69 ac
Current owner
From public records · entity-resolved
Northern Lights Ancillary LLC
Entity
Free & Clear · 21 yrs held
Mailing address
565 TAXTER RD STE #400, ELMSFORD, NY 10523-2379
Ownership since
2005
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
Apr 30, 2025
—
Northern Lights Improvements LLC
—
Deed
related
$500,000 · Dollar Bank Fsb
Feb 1, 2005
$200,000
Northern Lights Ancillary LLC
Northern Lights Shopping Cente
Grant 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.
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