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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Turn key restaurants
491 Park St Columbus, OH 43215-2236
Entity Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-1909822
Property summary
AI-generated overview
Exceptional restaurant opportunity in vibrant downtown Columbus, Ohio. This 8,522 square foot single-tenant space at 491 Park Street is fully vacant and ready for immediate occupancy. The property boasts a fully functional kitchen featuring an 18-foot hood, ensuring efficient operations. Adding to its appeal is a nearly 3,500 square foot patio, perfect for outdoor dining or entertainment. Its strategic location near the Short North Arts District, Nationwide Arena, Lower.com Field, the new North Market Development, and the City of Columbus Convention Center guarantees high visibility and significant foot traffic. This second-generation restaurant space offers a unique chance to establish a thriving business in a high-demand area. Located in Franklin County, Ohio, with a zip code of 43215, the property's annual taxes are $4.74 per square foot. This is an unparalleled opportunity to capitalize on Columbus's dynamic culinary scene.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1949
Total area
8,522 SF
Lot
0.29 ac (12,807 SF)
APN
010-055273
UPID
US66-1909822
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
-
Burlesque Show Columbus - Red Velvet Burlesque & Variety Show Theater & Performing Art Venue
-
Park Street Cantina Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$735k
Owner & transaction history
491 North Park Real Estate LLC · 17 yrs held
491 North Park Real Estate LLC
since 2008
2 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 Columbus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Columbus 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
by Request
ML approach
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$735k
Range $662k – $809k · ±10%
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
$86 / 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
$40,417
Tax year 2023
Assessed value
$553,290
Assessed 2023
Previous assessed
$442,760
+25.0% YoY
Effective rate
7.30%
On assessed value
Assessed land
$179,490
Assessed improvement
$373,800
Land market value
$512,800
Improvement market value
$1,068,000
Total market value
$1,580,800
Applied tax rate
10.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1949
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
8,522 SF
Lot
0.29 ac (12,807 SF)
APN
010-055273
UPID
US66-1909822
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
Building & site characteristics
From public records
Year built
1949
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
491 North Park Real Estate LLC
Entity
Mailing address
511 PARK ST #300, COLUMBUS, OH 43215-2081
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2008
—
491 North Park Real Estate LLC
Boehm,robert R & Carol T
Warranty Deed
$1,395,000 · Robert R Boehm
—
—
Robert R Boehm
—
Deed Of Trust
related
$162,058 · Bankfirst
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.
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