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Property profile & analytics
OFF-MARKET
Estimated value
$16,175,000
Office buildings
3651 Rdg Ml Dr 3731, Hilliard, OH 43026-7752
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US66-1099116
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Total area
74,083 SF
Lot
10.81 ac (470,971 SF)
APN
560-216929
UPID
US66-1099116
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
-
Beckys chemo Hospital
-
Dr. Ritu Salani, MD Physician
-
Dr. David E. Cohn, MD Physician
-
Jeffrey M Fowler MD Physician
-
Sarah Szczepanik Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.97M
Comparable Approach
Comparable
$17.19M
Blend (final)
Blend
$16.18M
Owner & transaction history
Vpu Hillard LLC · 1 yrs held
Vpu Hillard LLC
since 2024
Last sale
$17.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$21.5M
+65.6%
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 Hilliard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hilliard 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%
$16,215,000
6.5%
$14,970,000
7%
$13,900,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,005,000
Current use
RESTAURANT
$21,535,000
Change: +66% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,215,000
Change: -6% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$12,150,000
Change: -7% · Conversion: Difficult
MEDICAL BUILDING
$11,145,000
Change: -14% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$10,740,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$16.18M
Range $14.56M – $17.79M · ±10% · vs last sale $17.62M (May 8 2024)
Last sale anchor
$17.62M
May 8 2024
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
$218 / 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
$674,619
Tax year 2023
Assessed value
$9,308,710
Assessed 2023
Previous assessed
$9,318,750
-0.1% YoY
Effective rate
7.25%
On assessed value
Assessed land
$927,710
Assessed improvement
$8,381,000
Land market value
$2,650,600
Improvement market value
$23,945,700
Total market value
$26,596,300
Applied tax rate
560.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
74,083 SF
Lot
10.81 ac (470,971 SF)
APN
560-216929
UPID
US66-1099116
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
OFFICE BUILDING Current
Est. value
$13.0M
RESTAURANT
Est. value
$21.5M
AUTO REPAIR, GARAGE
Est. value
$12.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.2M
MEDICAL BUILDING
Est. value
$11.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1998
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
10.81 ac
Current owner
From public records · entity-resolved
Vpu Hillard LLC
Entity
Mailing address
309 N WATER ST STE #500, MILWAUKEE, WI 53202-5772
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2024
$17,622,500
Vpu Hillard LLC
Ridge Mill Drive Mob LLC
Limited Warranty Deed
$418,388 · Doc Dr LLC
Oct 14, 2021
$26,625,000
Doc 3641 3731 Ridge Mill Drive Mob
Mill Run Investmentors LLC
Limited Warranty Deed
—
Jan 20, 2015
$11,300,000
Mill Run Investors LLC|atkins Roxbury Associates L
Mill Run Business Center LLC
Grant Deed
related
$10,100,000 · Miscellaneous Ins Co
Mar 17, 2011
—
Mill Run Business Center LLC
—
Deed Of Trust
related
$2,225,000 · Farm Credit Svcs Mid-america
Mar 5, 2007
—
Mill Run Business Center LLC
Lane,john F & Mary J
Warranty Deed
—
Jul 29, 2004
$903,500
Spirit Spe Portfolio 2004-6 Ll
Ge Cap Franchise Finance Corp
Grant Deed
$632,389 · Ge Capital Franchise Finance
Jan 31, 2001
$9,600,000
Lane,john F & Mary J
Alpha Mrp Ltd
Trustees Deed
—
Jan 31, 2001
—
John F Lane
—
Deed Of Trust
related
$4,110,000 · Farm Credit Svcs Mid-america
Jul 1, 1998
$450,000
Halle Enterprises LLC
Alpha Mrp Ltd
Grant Deed
—
Sep 5, 1997
$1,360,000
Alpha Mrp Ltd
Scott Street Properties
Grant Deed
$5,800,000 · Provident Savings Bank
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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