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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3883 Gramercy St Columbus, OH 43219

    • Retail space
    • 29,214 SF
    • 1.91 lot acres
    For Sale
    View listing
    $11,620,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0133323
    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

    • Ballard Designs Columbus / Curtain Store / Lighting Store
    • Ashley / Furniture Store / Bedroom Furniture Store

    Property Details for 3883 Gramercy St

    Year built
    1999
    Lot size
    1.91 lot acres
    Property size
    29,214 SF
    Property type
    Retail space
    APN
    010-247727
    APU
    10247727

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,615,000
      6.5%
      $5,180,000
      7%
      $4,810,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,042,000
      Market price range: $1.51M - $5.04M
      AI Estimate
      $3,569,000
      Market price range: $894k - $3.57M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,135,000
      Current use
      RESTAURANT
      $6,660,000
      Change: +112% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,390,000
      Change: +72% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,635,000
      Change: +48% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,235,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $4,170,000
      Change: +33% Conversion: Easy
      MEDICAL BUILDING
      $3,945,000
      Change: +26% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,155,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9183
    Latitude
    40.0512
    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
    $119,063
    $581,770
    $1,048,150
    $1,629,920
    -
    $1,662,200
    $2,994,700
    $4,656,900

    Comparable in this City

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      432 SF

      1717 Old Leonard Ave

      RETAIL STORES (PERSONAL SERVICES) • 432 SF
      1717 Old Leonard Ave, Columbus, OH 43219-2511
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      $540,000
      3,865 SF

      760 Stelzer Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,865 SF
      760 Stelzer Rd, Columbus, OH 43219-3738
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    • Value Estimation by Request
      6,152 SF

      1775 Woodland Ave, Unit 1785

      RETAIL STORES (PERSONAL SERVICES) • 6,152 SF
      1775 Woodland Ave, Columbus, OH 43219-1100
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    • Value Estimation by Request
      4,940 SF

      2900-2988 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,940 SF
      2900-2988 5th Ave, Columbus, OH 43219
      View Details
    • Value Estimation by Request
      4,284 SF

      1950 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,284 SF
      1950 5th Ave, Columbus, OH 43219-2532
      View Details

    Similar Nearby for Sale

    • $11,620,000

      Columbus Retail Property for Sale

      Retail property available for purchase in Columbus, Ohio.
      3883 Gramercy St, Columbus, OH 43219
      View Details
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      Columbus Land: Prime Development Opportunity

      13,503.6 sq ft lot in top school district
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      13,200 SF industrial building near major highways and airport.
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      Easton Area Class A+ Office

      Two-story office building in Easton area, furniture negotiable.
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    • $215,000
      0.09 Acres

      Updated Duplex in East Columbus

      Turnkey duplex near airport, golf, and conservatory. Updated and convenient.
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    Similar Nearby for Lease

    • Contact for pricing
      2,313 SF

      Retail Space Near Easton Center

      White-box retail space adjacent to Easton Town Center.
      4030-4038 Morse Rd, Columbus, OH 43219
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    • $18 SF/Yr
      780 SF

      Grandview Office/Retail Space For Rent

      Office/retail space with excellent signage, character, and private parking.
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    • $4,000 /Mo
      3,580 SF

      Renovated Retail/Flex Space Sublease

      Move-in ready 3,580 SF retail/flex space available for sublease.
      818 Rose Ave, Columbus, OH 43219
      View Details
    • $4,000 /Mo
      3,580 SF

      Renovated Flex Space on Rose Avenue

      Move-in ready retail/flex space near downtown Columbus with high visibility.
      818 Rose Ave, Columbus, OH 43219
      View Details
    • Contact for pricing
      7,671 SF

      Freestanding Restaurant Space Near Easton

      Former restaurant space for lease near Easton Town Center.
      4175 Morse Xing, Columbus, OH 43219
      View Details
    • Contact for pricing
      552,280 SF

      Easton Market Retail Space Available

      Prime Columbus retail space, multiple units.
      3740 Easton Market, Columbus, OH 43219
      View Details
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    3883 Gramercy St
    Columbus, OH 43219
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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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