Add Listing
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

    3492 1st Ave Urbancrest, OH 43123-1312

    • Commercial real estate
    • 37,891 SF
    • 4.00 lot acres
    OFF-MARKET
    Value Estimations
    $3,080,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2386799
    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

    • Commercial real estate

    Property Details for 3492 1st Ave

    Year built
    1977
    Construction
    WOOD
    Lot size
    4.00 lot acres
    Property size
    37,891 SF
    Property type
    Commercial real estate
    APN
    161-000918
    APU
    161000918

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,876,000
      Market price range: $1.47M - $7.32M
      AI Estimate
      $2,808,000
      Market price range: $1.54M - $5.75M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,805,000
      Current use
      RETAIL STORES
      $4,735,000
      Change: +25% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Urbancrest
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0853
    Latitude
    39.9007
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH 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
    $1,941
    $122,430
    $867,440
    $989,870
    -
    $349,800
    $2,478,400
    $2,828,200

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      2393 Hyde Rd

      COMMERCIAL (GENERAL) • 0.02 Acres
      2393 Hyde Rd, Grove City, OH 43123-1415
      View Details
    • Value Estimation by Request
      2,045 SF

      3145 Broadway

      COMMERCIAL (GENERAL) • 2,045 SF
      3145 Broadway, Grove City, OH 43123-1463
      View Details
    • Value Estimation
      $1,330,000
      15,600 SF

      1645 Gtwy Cir

      COMMERCIAL (GENERAL) • 15,600 SF
      1645 Gtwy Cir, Grove City, OH 43123-9309
      View Details
    • Value Estimation by Request
      1.82 Acres

      Swsw Blvd

      COMMERCIAL (GENERAL) • 1.82 Acres
      Swsw Blvd, Grove City, OH 43123
      View Details
    • Value Estimation
      $545,000
      6.74 Acres

      Beulah Park Dr

      COMMERCIAL (GENERAL) • 6.74 Acres
      Beulah Park Dr, Grove City, OH 43123
      View Details
    • Value Estimation
      $755,000
      4,881 SF

      4203 Alkire Rd

      COMMERCIAL (GENERAL) • 4,881 SF
      4203 Alkire Rd, Grove City, OH 43123-1003
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Urbancrest Office/Warehouse Unit For Sale

      19,360 SF office/warehouse unit with superior loading capabilities.
      3389 Urbancrest Industrial Dr, Urbancrest, OH 43123
      View Details
    • Contact for pricing

      Industrial Development Site Available

      61+ acre industrial development site in Grove City, Ohio.
      1335 Thrailkill Rd, Grove City, OH 43123
      View Details
    • $210,000
      2.02 Acres

      Residential Land in Grove City

      Two acres of residential land for building a dream home.
      5 Norton Rd, Grove City, OH 43123
      View Details
    • $1,375,000
      2.50 Acres

      Hoover Road Development Site

      Grove City, OH: 2.5-acre prime land
      0 Hoover Rd, Grove City, OH 43123
      View Details
    • Contact for pricing

      Land Adjacent to CVS Pharmacy

      Commercial land for sale adjacent to CVS Pharmacy.
      6205 Hoover Rd, Grove City, OH 43123
      View Details
    • Contact for pricing
      3,027 SF

      New Freddy's Build-to-Suit Restaurant

      New 20-year NNN lease Freddy's restaurant for sale.
      4264 Buckeye Pkwy, Grove City, OH 43123
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial/Flex Space with Rooftop Deck

      Two-story industrial/flex building with rooftop deck and short-term storage.
      2882 Lewis Centre Way, Urbancrest, OH 43123
      View Details
    • Contact for pricing
      63,041 SF

      Industrial Space in Grove City

      63,041 square foot industrial space for lease.
      3515 Urbancrest Industrial Dr, Grove City, OH 43123
      View Details
    • Contact for pricing
      145,657 SF

      Industrial Space in Grove City

      Available industrial space totaling 268,905 SF in Grove City.
      5701 N Meadows Dr, Grove City, OH 43123
      View Details
    • Contact for pricing

      Modern Office Space For Lease

      Bright office space available for lease.
      1929 Gateway Cir, Grove City, OH 43123
      View Details
    • $30 SF/Yr
      2,458 SF

      New Retail Space Available

      Brand new retail suites available within Beulah Park redevelopment.
      3621 Southwest Blvd, Grove City, OH 43123
      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.
    3492 1st Ave
    Urbancrest, OH 43123-1312
    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.
    Sign Up Successful!
    You now have access to more from Realmo!