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    Property profile & analytics

    3583 Broad St Columbus, OH 43213-1141

    • Drug stores
    • 15,060 SF
    • 2.28 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2022
    Value Estimations
    $2,150,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1244242
    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

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Kevin Phelan, Pharm / Pharmacy
    • COVID-19 Drive-thru Testing at Walgreens / Medical Laboratory
    • FedEx OnSite / Shipping Company / Freight Service
    • Cardtronics ATM / Atm

    Property Details for 3583 Broad St

    Year built
    2001
    Lot size
    2.28 lot acres
    Property size
    15,060 SF
    Property type
    Drug stores
    APN
    010-088458
    APU
    10088458

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,895,000
      6.5%
      $2,670,000
      7%
      $2,480,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,252,000
      Market price range: $959k - $2.25M
      AI Estimate
      $1,525,000
      Market price range: $604k - $1.53M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,605,000
      Current use
      RESTAURANT
      $3,435,000
      Change: +114% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,390,000
      Change: +49% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,185,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $2,060,000
      Change: +28% Conversion: Easy
      MEDICAL BUILDING
      $2,035,000
      Change: +27% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,630,000
      Change: +2% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,460,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9048
    Latitude
    39.9725
    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
    $65,526
    $437,080
    $459,940
    $897,020
    -
    $1,248,800
    $1,314,100
    $2,562,900

    Comparable in this City

    • Value Estimation
      $5,865,000
      13,097 SF

      4548 Main St

      DRUG STORE, PHARMACY • 13,097 SF
      4548 Main St, Columbus, OH 43213-3039
      View Details
    • Value Estimation
      $1,395,000
      14,618 SF

      6201 Broad St

      DRUG STORE, PHARMACY • 14,618 SF
      6201 Broad St, Columbus, OH 43213-5500
      View Details
    • Value Estimation
      $4,105,000
      13,097 SF

      4538 Main St

      DRUG STORE, PHARMACY • 13,097 SF
      4538 Main St, Columbus, OH 43213
      View Details
    • Value Estimation
      $2,065,000
      14,462 SF

      4617 Main St

      DRUG STORE, PHARMACY • 14,462 SF
      4617 Main St, Columbus, OH 43213-3298
      View Details
    • Value Estimation by Request
      0.47 Acres

      6201 Broad St

      DRUG STORE, PHARMACY • 0.47 Acres
      6201 Broad St, Columbus, OH 43213-5500
      View Details
    • Value Estimation
      $5,785,000
      1,722 SF

      4538 Main St

      DRUG STORE, PHARMACY • 1,722 SF
      4538 Main St, Columbus, OH 43213
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,500 SF

      Freestanding Retail/Office Building

      4,500 SF building in Whitehall Main Street District.
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    • Contact for pricing
      85,084 SF

      Columbus Shopping Center For Sale

      85,084 square-foot shopping center in Columbus, Ohio.
      2361-2595 S Hamilton Rd, Columbus, OH 43213
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    • $765,000

      Tool Rental Business Opportunity

      Real estate and business for sale at major intersection.
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    • $810,000

      Service Station and Warehouse Buildings

      Two buildings on a high-traffic corner lot.
      3143 E Main St, Columbus, OH 43213
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    • Contact for pricing

      Land Lease in Norton Crossing

      Land lease corporately guaranteed by First Commonwealth Bank.
      51 S Hamilton Rd, Whitehall, OH 43213
      View Details
    • Contact for pricing
      108,256 SF

      Retail Center at Busy Intersection

      Located at a heavily-trafficked intersection with traffic signal access.
      4632-4640 E Main St, Columbus, OH 43213
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      10,431 SF

      Freestanding Building on Main Street

      10,431 SF building ideal for retail or office use.
      4634-4638 E Main St, Columbus, OH 43213
      View Details
    • Contact for pricing
      1 SF

      Whitehall Retail Development Site

      1.35-acre pad site; build-to-suit available.
      3769 Broad St, Whitehall, 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
      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
      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
    • Contact for pricing
      2,544 SF

      Retail Space in Blacklick, Ohio

      Move-in-ready retail space in a high-traffic location.
      6264-6280 E Broad St, Columbus, OH 43213
      View Details
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    Columbus, OH 43213-1141
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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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