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Property profile & analytics
FOR LEASE
Flex space
4235 Leap Rd Hilliard, OH 43026
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-2495705
For Lease
1 / 2
$10.25 SF/Yr
4235 Leap Rd, Hilliard, OH 43026
View Listing →
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1991
Total area
20,500 SF
Lot
2.01 ac (87,425 SF)
APN
050-003396
UPID
US66-2495705
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
-
Simple Kitchen Hardware & Home Improvement Kitchen & Bath Showroom
-
Simple Bath + Kitchen Renovation Specialist General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.13M
Owner & transaction history
Longboard LLC · 5 yrs held
Longboard LLC
since 2021
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,085,000
ML approach
$1,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,650,000
Current use
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±10% · vs last sale $1.15M (Jan 4 2021)
Last sale anchor
$1.15M
Jan 4 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
$55 / 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
$32,251
Tax year 2023
Assessed value
$394,350
Assessed 2023
Previous assessed
$350,000
+12.7% YoY
Effective rate
8.18%
On assessed value
Assessed land
$63,210
Assessed improvement
$331,140
Land market value
$180,600
Improvement market value
$946,100
Total market value
$1,126,700
Applied tax rate
50.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Lease
Year built
1991
Heating
YES
Cooling
NONE
Buildings
1
Stories
1
Total area
20,500 SF
Lot
2.01 ac (87,425 SF)
APN
050-003396
UPID
US66-2495705
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
INDUSTRIAL (GENERAL) Current
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
1991
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
Longboard LLC
Entity
Mailing address
4235 LEAP RD, HILLIARD, OH 43026-1125
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2021
$1,150,000
Longboard LLC
Crh Limited Company
Warranty Deed
$920,000 · Jpmorgan Chase Bank NA
Jul 23, 2018
$1,000,000
Crh Lc
Richmond Prop Mgmt LLC
Grant Deed
—
Mar 15, 2006
—
Richmond Property Mgmt LLC
Richmond Carol M Trust
Quit Claim Deed
related
—
Jun 13, 2000
—
Hilliard City (oh)
Richmond Trust
Grant Deed
related
—
—
—
Richmond Property Mgmt LLC
—
Deed Of Trust
related
$100,000 · Park National Bank
—
—
Eric D Richmond
—
Deed Of Trust
related
$203,329 · Park National 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.
Try Rey
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