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

    427 Cleveland Ave Columbus, OH 43215

    • Manufacturing properties
    • 144,828 SF
    • 9.45 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2020
    $8,150,000
    Value Estimations
    $8,290,000
    Show details
    Cap Rate Potential
    6.8%
    Manufacturing properties
    Location Intelligence
    Property ID
    US66-2153949
    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

    • Manufacturing properties

    Property Details for 427 Cleveland Ave

    Year built
    1926
    Lot size
    9.45 lot acres
    Property size
    144,828 SF
    Property type
    Manufacturing properties
    APN
    010-015761
    APU
    10015761

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,420,000
      ML approach
      $7,505,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,545,000
      6.5%
      $8,810,000
      7%
      $8,180,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,005,000
      Market price range: $6.08M - $20.4M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $11,920,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9914
    Latitude
    39.9735
    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
    $85,251
    $339,050
    $828,000
    $1,167,050
    -
    $968,700
    $2,365,700
    $3,334,400

    Comparable in this City

    • Value Estimation
      $510,000
      18,000 SF

      1200 Dublin Rd

      MANUFACTURING (LIGHT) • 18,000 SF
      1200 Dublin Rd, Columbus, OH 43215-1008
      View Details
    • Value Estimation
      $320,000
      19,950 SF

      289-290 Walnut St

      FOUNDRY, INDUSTRIAL PLANT • 19,950 SF
      289-290 Walnut St, Columbus, OH 43215
      View Details
    • Value Estimation
      $805,000
      100,491 SF

      401 Town St

      MANUFACTURING (LIGHT) • 100,491 SF
      401 Town St, Columbus, OH 43215-4034
      View Details
    • Value Estimation
      $250,000
      0.06 Acres

      Rich St

      FOUNDRY, INDUSTRIAL PLANT • 0.06 Acres
      Rich St, Columbus, OH 43215
      View Details
    • Value Estimation
      $1,105,000
      22,593 SF

      625 Cleveland Ave

      FOOD PROCESSING • 22,593 SF
      625 Cleveland Ave, Columbus, OH 43215-1754
      View Details
    • Value Estimation
      $955,000
      42,972 SF

      1200 Dublin Rd, Unit 1220

      MANUFACTURING (LIGHT) • 42,972 SF
      1200 Dublin Rd, Columbus, OH 43215-1008
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,654 SF

      Industrial Space with Crane

      3,654 SF industrial space suitable for truck repair.
      1883 Federal Industrial Pkwy, Columbus, OH 43215
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    • $2,500,000
      4,936 SF

      Town Street Restaurant Investment

      Columbus Restaurant - Sale/Leaseback
      463 Town St, Columbus, OH 43215
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    • Contact for pricing
      34,800 SF

      Grandview Flex Building For Sale

      Single-story flex building with office and flex opportunities in Grandview.
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    • $2,400,000
      6,938 SF

      Columbus Medical Office Building

      Profitable Owner/User Opportunity in Columbus, OH
      2100 Marble Cliff Office Park, Columbus, OH 43215
      View Details
    • $799,000
      5,104 SF

      Prime Dublin Road Storefront

      Columbus Retail Space - Vacant, 5104 SF
      1103 Dublin Rd, Columbus, OH 43215
      View Details
    • $2,650,000
      12,702 SF

      Downtown Columbus Multifamily Investment

      14-unit apartment complex, expansion potential.
      602 Town St, Columbus, OH 43215
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Columbus Dark Fiber Network Route

      Custom-built dark fiber route connecting Mechanicsburg to Columbus, Ohio.
      Dark Fiber Columbus Ohio, Columbus, OH 43215
      View Details
    • $12 SF/Yr
      4,801 SF

      Columbus Warehouse/Flex Space

      4,801 SF Warehouse/Flex/Retail Space
      512 Park St, Columbus, OH 43215
      View Details
    • $9 SF/Yr
      10,700 SF

      Versatile Warehouse Space in Columbus

      Warehouse with mezzanine, dock doors, and convenient highway access.
      2029 S High St, Columbus, OH 43215
      View Details
    • $14 SF/Yr
      41,896 SF

      Prime Columbus Office Space

      Arena District Offices, 10,765 SF Available
      300 Marconi Blvd, Columbus, OH 43215
      View Details
    • $14 SF/Yr
      243,547 SF

      Miranova Corporate Tower Office Space

      Columbus, Ohio Executive Office Suites
      0 2 Miranova Pl, Columbus, OH 43215
      View Details
    • $21 SF/Yr
      495,150 SF

      Columbus Coworking Space Available

      Class A Office, Modern Amenities, 218,889 SF Vacant
      65 State St, Columbus, OH 43215
      View Details
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    427 Cleveland Ave
    Columbus, OH 43215
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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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