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    Property profile & analytics

    4621 Lyman Dr Hilliard, OH 43026-1249

    • Flex space
    • 18,055 SF
    • 1.37 lot acres
    OFF-MARKET
    Value Estimations
    $1,665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1211683
    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

    • Converge Technologies / Marketing & Advertising / IT Consulting Firm
    • GhostWave / Auto Repair Shop
    • Ubihere / (Bike/Boat/Book/etc) Store / Corporate Office
    • GhostWave Inc. / Engineer

    Property Details for 4621 Lyman Dr

    Year built
    2001
    Lot size
    1.37 lot acres
    Property size
    18,055 SF
    Property type
    Flex space
    APN
    050-011534
    APU
    50011534

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,027,000
      Market price range: $721k - $2.40M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,450,000
      Current use
      MEDICAL BUILDING
      $2,715,000
      Change: +87% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,615,000
      Change: +80% Conversion: Difficult
      RETAIL STORES
      $2,255,000
      Change: +55% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Hilliard
    County
    Franklin
    State
    Ohio
    Longitude
    -83.129
    Latitude
    40.0471
    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
    $49,813
    $47,890
    $561,190
    $609,080
    -
    $136,800
    $1,603,400
    $1,740,200

    Comparable in this City

    • Value Estimation
      $2,105,000
      22,549 SF

      4601 Lyman Dr

      LIGHT INDUSTRIAL • 22,549 SF
      4601 Lyman Dr, Hilliard, OH 43026-1249
      View Details
    • Value Estimation
      $2,385,000
      28,851 SF

      4340-4344 Lyman Dr

      LIGHT INDUSTRIAL • 28,851 SF
      4340-4344 Lyman Dr, Hilliard, OH 43026
      View Details
    • Value Estimation
      $900,000
      10,240 SF

      4540 Edgewyn Ave

      LIGHT INDUSTRIAL • 10,240 SF
      4540 Edgewyn Ave, Hilliard, OH 43026-1222
      View Details
    • Value Estimation by Request
      30,876 SF

      4700 Northwest Pkwy

      Life science properties • 30,876 SF
      4700 Northwest Pkwy, Hilliard, OH 43026
      View Details
    • Value Estimation by Request
      3,252 SF

      4348 Reynolds Dr

      LIGHT INDUSTRIAL • 3,252 SF
      4348 Reynolds Dr, Hilliard, OH 43026-1260
      View Details
    • Value Estimation
      $2,600,000
      12,300 SF

      4510 Edgewyn Ave

      LIGHT INDUSTRIAL • 12,300 SF
      4510 Edgewyn Ave, Hilliard, OH 43026-1222
      View Details

    Similar Nearby for Sale

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      7,493 SF

      Hilliard Office/Warehouse Multi-Tenant Property

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      Davidson Road Vacant Land

      4.61 acre vacant land ideal for flex office.
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      29,733 SF

      Hilliard Industrial and Office Property

      Industrial property featuring warehouse, manufacturing, R&D, and office space.
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      2.50 Acres

      Hilliard Commercial Land - Prime Location

      Exceptional 5.4-acre commercial lot in Hilliard, OH.
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    Similar Nearby for Lease

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      Retail Space For Rent

      Retail space available from 20,000 to 75,900 SqFt.
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      Hilliard Flex Space Available

      Flex space with office and warehouse in established commercial area.
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      75,900 SF

      Hilliard Flex/Industrial Space Available

      75,900 SF flex/industrial space in Hilliard, Ohio.
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      11,990 SF

      Hilliard Warehouse and Flex Space

      Warehouse and flex space available in Hilliard, Ohio.
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      800 SF

      Office and Trailer Parking Available

      Office space with ample trailer and car parking for rent.
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      View Details
    • Contact for pricing
      12,000 SF

      Hilliard Warehouse Space Available

      Warehouse units for lease, ranging from 4,800 to 12,000 SF.
      4756 Northwest Pkwy, Hilliard, OH 43026
      View Details
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    Hilliard, OH 43026-1249
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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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