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

    431 Columbus St Lancaster, OH 43130-4331

    • Investment properties
    • 19,399 SF
    OFF-MARKET
    Value Estimations
    $1,555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2683180
    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

    • Columbus st / Gym & Fitness Center
    • The Mill Event Center / Hotel & Motel / Resort
    • One's Passion Photography / Wedding Service / Photography Service
    • Flawless Breakthrough Hair Salon / Hair Salon / Nail Salon

    Property Details for 431 Columbus St

    Property size
    19,399 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    053-58528.00
    APU
    535852800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,400,000
      Market price range: $796k - $2.45M
      AI Estimate
      $1,577,000
      Market price range: $1.06M - $3.10M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,675,000
      Current use
      AUTO REPAIR, GARAGE
      $2,165,000
      Change: +29% Conversion: Difficult
      RETAIL STORES
      $1,950,000
      Change: +16% Conversion: Easy
      OFFICE BUILDING
      $1,385,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.603
    Latitude
    39.7096
    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
    $0.00
    $0.00
    $237,170
    $237,170
    -
    $0.00
    $677,620
    $677,620

    Comparable in this City

    • Value Estimation
      $735,000
      8,320 SF

      500 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,320 SF
      500 High St, Lancaster, OH 43130-3155
      View Details
    • Value Estimation by Request
      4,029 SF

      437 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,029 SF
      437 Broad St, Lancaster, OH 43130-3029
      View Details
    • Value Estimation by Request
      1,982 SF

      745 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,982 SF
      745 Main St, Lancaster, OH 43130-3937
      View Details
    • Value Estimation by Request
      2,971 SF

      2366 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,971 SF
      2366 Main St, Lancaster, OH 43130-9307
      View Details
    • Value Estimation by Request
      1,768 SF

      537 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,768 SF
      537 Main St, Lancaster, OH 43130-3809
      View Details
    • Value Estimation by Request
      3,168 SF

      1461 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,168 SF
      1461 Main St, Lancaster, OH 43130-4011
      View Details

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      Lancaster Commercial Multi-Building Property

      Five buildings, 1.69 acres, high potential.
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      924 SF

      Lancaster Mixed-Use Commercial Building

      Renovated Commercial Building, High Traffic Area
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    • $48,500

      Lancaster Land: Prime Downtown Corner Lot

      4,356 sq ft lot, excellent location.
      114 Cedar Ave, Lancaster, OH 43130
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    Similar Nearby for Lease

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      36,860 SF

      Lancaster Plaza Retail Space

      High-traffic retail space, excellent visibility.
      1203 Memorial Dr, Lancaster, OH 43130
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      4,515 SF

      River Valley Plaza Retail Space

      High-traffic retail space available for sublease.
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      Land For Rent Lancaster, OH

      Land available for rent in Lancaster, Ohio.
      2845 Columbus Lancaster Rd NW, Lancaster, OH 43130
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      1,200 SF

      Retail Space in Lancaster Corridor

      1,200 SF retail space in a prominent retail corridor.
      1185-1259 Memorial Dr, Lancaster, OH 43130
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    • Contact for pricing

      Commercial Pad Site for Lease

      Commercial land available for ground lease in Lancaster, Ohio.
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    • $14 SF/Yr
      12,584 SF

      Medical Office Building For Lease

      Multi-tenant medical office building with surgical center and renovated common areas.
      2405 North Columbus St, Lancaster, OH 43130
      View Details
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    431 Columbus St
    Lancaster, OH 43130-4331
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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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