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Property profile & analytics
OFF-MARKET
Estimated value
$5,285,000
Warehouses
400 Lazelle Rd Columbus, OH 43240-2077
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-2798146
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Total area
55,720 SF
Lot
4.42 ac (192,622 SF)
APN
318-344-01-009-001
UPID
US66-2798146
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
-
Direct Affordable Auto Insurance Columbus, OH Insurance Agency
-
Jon Stacy, NMLS: 516207, PrimeLending Loan Service Bank
-
Leaf Home Water Solutions General Contractor
-
Reiki Health and Wellness Alternative Medicine Practice
-
Vine Performance Therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.77M
CAP Approach
CAP
$4.12M
Comparable Approach
Comparable
$3.70M
Blend (final)
Blend
$5.29M
Owner & transaction history
Polaris Realty In LLC · 4 yrs held
Polaris Realty In LLC
since 2021
Last sale
$5.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$8.1M
+70.8%
Office building
$8.0M
+68.2%
Medical building
$7.5M
+59.1%
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 Columbus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Columbus 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
$5,125,000
ML approach
$4,770,000
CAP Approach
CAP Return
Estimation
6%
$4,460,000
6.5%
$4,115,000
7%
$3,820,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,730,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,075,000
Change: +71% · Conversion: Difficult
OFFICE BUILDING
$7,955,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$7,525,000
Change: +59% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,020,000
Change: +27% · Conversion: Moderate
RETAIL STORES
$5,980,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$5.29M
Range $4.76M – $5.81M · ±10% · vs last sale $5.62M (Dec 30 2021)
Last sale anchor
$5.62M
Dec 30 2021
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
$95 / 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
$135,014
Tax year 2023
Assessed value
$1,989,270
Assessed 2023
Previous assessed
$1,967,000
+1.1% YoY
Effective rate
6.79%
On assessed value
Assessed land
$313,430
Assessed improvement
$1,675,840
Land market value
$895,500
Improvement market value
$4,788,100
Total market value
$5,683,600
Applied tax rate
45.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Heating
YES
Cooling
YES
Stories
1
Rooms
7
Bathrooms
1
Total area
55,720 SF
Lot
4.42 ac (192,622 SF)
APN
318-344-01-009-001
UPID
US66-2798146
Jurisdiction
DELAWARE
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
WAREHOUSE, STORAGE Current
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.1M
OFFICE BUILDING
Est. value
$8.0M
MEDICAL BUILDING
Est. value
$7.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
RETAIL STORES
Est. value
$6.0M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1997
Heating
YES
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
1
Lot
4.42 ac
Current owner
From public records · entity-resolved
Polaris Realty In LLC
Entity
Mailing address
400 LAZELLE RD, COLUMBUS, OH 43240-2077
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2021
$5,620,000
Polaris Realty In LLC
Browning Polaris LLC
Limited Warranty Deed
$3,650,000 · Polaris Realty In LLC
Feb 14, 2018
$339,900
Lyhong Thai
Vann,christopher & Dawn
Warranty Deed
$271,900 · Prime Lndg
Mar 14, 2017
—
City Of Columbus
Browing Polaris LLC
Warranty Deed
—
Nov 19, 2012
—
Browning Polaris LLC
—
Deed Of Trust
related
$3,300,000 · Morgan Stanley Mtg Cap Holding
Jun 26, 2007
$4,510,000
Browning Polaris LLC
Polaris Commerce Center LLC
Warranty Deed
related
$3,400,000 · Huntington National Bank
Jun 25, 2007
—
Polaris Commerce Center LLC
Cardinal Title Holding
Warranty Deed
—
Jun 22, 2007
—
Cardinal Title Holding Co
Polaris Commerce Center LLC
Warranty Deed
—
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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