Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3801 Westerville Rd Columbus, OH 43224
    Back to Search
    Property profile & analytics

    3801 Westerville Rd Columbus, OH 43224

    View on Map
    • Commercial real estate
    • 1,384 SF
    Off-Market
    Property ID
    US66-0528759
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3801 Westerville Rd

    Year built
    1954
    Property size
    1,384 SF
    Property type
    Commercial real estate

    Description

    This exceptional Columbus, Ohio investment property, located at 3801 Westerville Road, 43224, presents a unique opportunity for redevelopment. The property, built in 1954, offers 1,384 square feet of space on a substantial 76,665.6 square foot lot. Currently zoned for residential use, this presents a blank canvas for a variety of development projects. The asking price is $799,000, translating to $577.31 per square foot. Situated in the thriving Northeast Columbus market, this location offers significant potential for growth and return on investment. The property's size and zoning make it an attractive option for developers seeking to capitalize on the burgeoning Columbus real estate market. Given its prime location and substantial lot size, this property is ideal for those seeking a significant impact in the Columbus market. Serious inquiries only. Please schedule an appointment before visiting the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9467505
    Latitude
    40.0471974

    Comparable in this City

    • Contact for pricing
      6,835 SF

      Fully Leased Multi-Tenant Retail Property

      Fully leased retail property with diverse tenant mix.
      3708-3710 Cleveland Ave, Columbus, OH 43224
      View Details
    • Contact for pricing

      Columbus Daycare Property For Sale

      5,252 SF daycare on 0.87 acres in Columbus, Ohio.
      1601 Shanley Dr, Columbus, OH 43224
      View Details
    • Contact for pricing
      14,490 SF

      Corner Retail Property for Sale

      Hard corner location near Ohio State University with in-place cash-flow.
      3093 Cleveland Ave, Columbus, OH 43224
      View Details
    • Contact for pricing

      Four-Unit Multifamily Investment Property

      Four-unit property with two-bedroom apartments, ideal for investment.
      2872 Howey Rd, Columbus, OH 43224
      View Details
    • $95,000

      Vacant Land on Cleveland Avenue

      Vacant land with high traffic and bus line access.
      1770 Eddystone Ave, Columbus, OH 43224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,835 SF

      Fully Leased Multi-Tenant Retail Property

      Fully leased retail property with diverse tenant mix.
      3708-3710 Cleveland Ave, Columbus, OH 43224
      View Details
    • Contact for pricing

      Columbus Daycare Property For Sale

      5,252 SF daycare on 0.87 acres in Columbus, Ohio.
      1601 Shanley Dr, Columbus, OH 43224
      View Details
    • Contact for pricing

      Four-Unit Multifamily Investment Property

      Four-unit property with two-bedroom apartments, ideal for investment.
      2872 Howey Rd, Columbus, OH 43224
      View Details
    • $95,000

      Vacant Land on Cleveland Avenue

      Vacant land with high traffic and bus line access.
      1770 Eddystone Ave, Columbus, OH 43224
      View Details
    • Contact for pricing
      14,490 SF

      Corner Retail Property for Sale

      Hard corner location near Ohio State University with in-place cash-flow.
      3093 Cleveland Ave, Columbus, OH 43224
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Units in Shopping Center

      Two retail units available in neighborhood shopping center.
      1482 Oakland Park Ave, Columbus, OH 43224
      View Details
    • $25 SF/Yr
      2,400 SF

      Freestanding Retail Building For Lease

      2,400 SF retail building with private parking lot.
      900 Oakland Park Ave, Columbus, OH 43224
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      7,330 SqFt retail space available for rent.
      4401 Cleveland Ave, Columbus, OH 43224
      View Details
    • Contact for pricing
      5,440 SF

      Retail Space Near Saraga Grocery

      Retail space anchored by Saraga International Grocery Store.
      3349-3409 Cleveland Ave, Columbus, OH 43224
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in High-Traffic Area

      Retail space with national tenants and high visibility.
      3531-3553 Cleveland Ave, Columbus, OH 43224
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail spaces available for lease in Columbus, OH.
      3349-3561 Cleveland Ave, Columbus, OH 43224
      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.
    3801 Westerville Rd
    Columbus, OH 43224
    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

    Thank You for Inquiry
    3801 Westerville Rd, Columbus, OH, 43224
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!