Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,300,000
Warehouses
406 Morrison Rd 420 Columbus, OH 43213-1435
Entity Owned
5-yr Hold
Free & Clear
Property ID
US66-2246770
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1987
Total area
16,800 SF
Lot
3.08 ac (134,252 SF)
APN
010-208204
UPID
US66-2246770
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
-
Ideal Garage Floor Coatings Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.22M
CAP Approach
CAP
$2.66M
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$3.30M
Owner & transaction history
Fairground Village Center LLC · 5 yrs held
Fairground Village Center LLC
since 2021
Last sale
$3.7M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.8M
+168.7%
Auto repair, garage
$2.7M
+86.9%
Apartment house (5+ units)
$2.4M
+70.8%
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
$3,330,000
ML approach
$3,215,000
CAP Approach
CAP Return
Estimation
6%
$2,875,000
6.5%
$2,655,000
7%
$2,465,000
Alternative Use
Use
Estimation
RESTAURANT
$3,830,000
Change: +169% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,665,000
Change: +87% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,435,000
Change: +71% · Conversion: Difficult
OFFICE BUILDING
$2,295,000
Change: +61% · Conversion: Difficult
MEDICAL BUILDING
$2,270,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$3.30M
Range $2.97M – $3.63M · ±10% · vs last sale $3.65M (Mar 17 2021)
Last sale anchor
$3.65M
Mar 17 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
$196 / 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
$50,722
Tax year 2023
Assessed value
$694,370
Assessed 2023
Previous assessed
$619,720
+12.0% YoY
Effective rate
7.30%
On assessed value
Assessed land
$124,810
Assessed improvement
$569,560
Land market value
$356,600
Improvement market value
$1,627,300
Total market value
$1,983,900
Applied tax rate
10.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
16,800 SF
Lot
3.08 ac (134,252 SF)
APN
010-208204
UPID
US66-2246770
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
RESTAURANT
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1987
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
3.08 ac
Current owner
From public records · entity-resolved
Fairground Village Center LLC
Entity
Free & Clear · 5 yrs held
Mailing address
9510 PERSIMMON TREE RD, POTOMAC, MD 20854-4330
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2021
$3,650,000
Fairground Village Center LLC
Sepich Family Limited Partnership
Limited 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 406 Morrison Rd, Unit 420?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
