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    Property profile & analytics

    4248 Morse Rd Columbus, OH 43230-1486

    • Automotive properties
    • 21,840 SF
    • 10.94 lot acres
    OFF-MARKET
    Value Estimations
    $3,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1415004
    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

    • 5040 Forest Drive New Albany / Hospital
    • ToyotaSaysYes / Car Dealership
    • Toyota Direct - Service Department / Auto Repair Shop
    • Toyota Direct - Parts Department / Auto Parts Store
    • Hertz Car Rental - Gahanna - North Stygler HLE / Car Rental Facility

    Property Details for 4248 Morse Rd

    Year built
    1980
    Lot size
    10.94 lot acres
    Property size
    21,840 SF
    Property type
    Automotive properties
    APN
    600-150024
    APU
    600150024

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,009,000
      Market price range: $971k - $3.01M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,465,000
      Current use
      RESTAURANT
      $4,980,000
      Change: +44% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,165,000
      Change: -9% Conversion: Difficult
      MEDICAL BUILDING
      $2,950,000
      Change: -15% Conversion: Difficult
      OFFICE BUILDING
      $2,945,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8974
    Latitude
    40.0585
    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
    $171,839
    $833,390
    $1,641,330
    $2,474,720
    -
    $2,381,100
    $4,689,500
    $7,070,600

    Comparable in this City

    • Value Estimation
      $2,280,000
      25,543 SF

      4300 Morse Rd

      VEHICLE SALES, RENTALS • 25,543 SF
      4300 Morse Rd, Columbus, OH 43230-1524
      View Details
    • Value Estimation
      $3,760,000
      30,186 SF

      4050 Morse Rd

      VEHICLE SALES, RENTALS • 30,186 SF
      4050 Morse Rd, Columbus, OH 43230-1448
      View Details
    • Value Estimation
      $1,925,000
      18,383 SF

      4330 Morse Rd

      VEHICLE SALES, RENTALS • 18,383 SF
      4330 Morse Rd, Columbus, OH 43230-1524
      View Details
    • Value Estimation by Request
      1,260 SF

      328 Johnstown Rd

      VEHICLE SALES, RENTALS • 1,260 SF
      328 Johnstown Rd, Columbus, OH 43230-2717
      View Details
    • Value Estimation by Request
      5.73 Acres

      Sunbury Rd

      VEHICLE SALES, RENTALS • 5.73 Acres
      Sunbury Rd, Columbus, OH 43230
      View Details
    • Value Estimation by Request
      280 SF

      180 Ml St

      VEHICLE SALES, RENTALS • 280 SF
      180 Ml St, Gahanna, OH 43230-2647
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Gahanna Industrial Building on Acreage

      3,600 SF industrial building on 4.17 acres near I-270.
      788 Taylor Station Rd, Gahanna, OH 43230
      View Details
    • $1,590,000

      Restaurant Opportunity on Acreage

      Commercial property with restaurant history on 1.39 acres.
      550 Officenter Pl, Columbus, OH 43230
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      Hamilton Road Retail Opportunity

      High-traffic location, redevelopment potential.
      5470 Hamilton Rd, Columbus, OH 43230
      View Details
    • $2,750,000
      17,413 SF

      Gahanna Executive Office Building

      Class A Office, 17,413 SF, $2.75M
      461 Beecher Rd, Gahanna, OH 43230
      View Details
    • $2,100,000
      5,884 SF

      Gahanna Restaurant - Turnkey Opportunity

      Established Bar & Grill, High Traffic Location
      151 Hamilton Rd, Gahanna, OH 43230
      View Details
    • Contact for pricing

      Land with Infrastructure and Utilities

      Land with utilities, easy highway access, and development potential.
      Tech Center Dr, Gahanna, OH 43230
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space on Hamilton Road

      Endcap retail space available in Columbus, Ohio.
      5069-5081 N Hamilton Rd, Columbus, OH 43230
      View Details
    • $30 SF/Yr
      1,233 SF

      Retail or Office/Medical Space

      Single-story building with shell space, retail or office/medical potential.
      4951-4965 N Hamilton Rd, Columbus, OH 43230
      View Details
    • $37 SF/Yr
      4,241 SF

      Retail Space Near Corporate HQ

      Retail space available in high-traffic area near major employers.
      5775 Hamilton Rd, Columbus, OH 43230
      View Details
    • $38 SF/Yr
      2,577 SF

      Restaurant End-Cap Space Available

      End-cap restaurant space for sublease in Columbus MSA.
      4770-4784 Morse Rd, Columbus, OH 43230
      View Details
    • Contact for pricing
      32,000 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and access in Columbus, OH.
      4840 Hamilton Rd, Columbus, OH 43230
      View Details
    • Contact for pricing
      2,313 SF

      Easton Retail Space: Morse Road

      High-traffic retail space, Easton location.
      4034 Morse Rd, Columbus, OH 43230
      View Details
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    4248 Morse Rd
    Columbus, OH 43230-1486
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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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