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

    500 Hebron Rd Heath, OH 43056-1435

    • Automotive properties
    • 39,378 SF
    • 6.79 lot acres
    OFF-MARKET
    Last Sale
    Jan 07, 2022
    $7,500,000
    Value Estimations
    $4,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1462687
    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

    • Automotive properties

    Property Details for 500 Hebron Rd

    Year built
    1964
    Lot size
    6.79 lot acres
    Property size
    39,378 SF
    Property type
    Automotive properties
    APN
    030-089058-00.000
    APU
    3008905800000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,500,000
      ML approach
      $4,465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,504,000
      Market price range: $1.21M - $4.87M
      AI Estimate
      $4,429,000
      Market price range: $1.68M - $4.87M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,140,000
      Current use
      RESTAURANT
      $6,155,000
      Change: +96% Conversion: Difficult
      OFFICE BUILDING
      $3,950,000
      Change: +26% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,110,000
      Change: -1% Conversion: Moderate
      RETAIL STORES
      $2,870,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Heath
    County
    Licking
    State
    Ohio
    Longitude
    -82.4269
    Latitude
    40.0382
    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
    $118,367
    $998,130
    $1,195,600
    $2,193,730
    -
    $2,851,800
    $3,416,000
    $6,267,800

    Comparable in this City

    • Value Estimation
      $275,000
      2,795 SF

      1898 Hebron Rd

      VEHICLE SALES, RENTALS • 2,795 SF
      1898 Hebron Rd, Heath, OH 43056-1006
      View Details
    • Value Estimation
      $195,000
      1,468 SF

      1352 Hebron Rd

      VEHICLE SALES, RENTALS • 1,468 SF
      1352 Hebron Rd, Heath, OH 43056-1038
      View Details
    • Value Estimation
      $1,180,000
      1,680 SF

      1948 Hebron Rd

      VEHICLE SALES, RENTALS • 1,680 SF
      1948 Hebron Rd, Heath, OH 43056
      View Details
    • Value Estimation
      $240,000
      4,300 SF

      1515 Hebron Rd

      VEHICLE SALES, RENTALS • 4,300 SF
      1515 Hebron Rd, Heath, OH 43056-1458
      View Details
    • Value Estimation
      $210,000
      2,720 SF

      501 Brownsville SE Rd

      VEHICLE SALES, RENTALS • 2,720 SF
      501 Brownsville SE Rd, Newark, OH 43056-9401
      View Details
    • Value Estimation
      $415,000
      3,560 SF

      606 Hebron Rd

      VEHICLE SALES, RENTALS • 3,560 SF
      606 Hebron Rd, Heath, OH 43056-1403
      View Details

    Similar Nearby for Sale

    • $50,000
      3,000 SF

      Established Children's Spa Business

      Profitable spa business for ages 3+ with loyal clientele.
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      4,176 SF

      Multi-Purpose Building Near Intel Site

      4,176 SF building on 2.8 acres near retailers.
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      4,580 SF

      Former Bank Building on 1.58 Acres

      Single-story, 4,580 SF former bank building with drive-thru bays.
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    • $3,950,000
      64,800 SF

      Heath, OH Retail Investment Opportunity

      64,800 SF retail property with 12 units in Heath, OH.
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    • $750,000
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      Heath Commercial Property - $750K

      Versatile 4,860 SF Commercial Building in Heath, OH
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      River Oaks Ranch Condo

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    Similar Nearby for Lease

    • Contact for pricing
      1,885 SF

      Retail Space in Heath, Ohio

      Retail space available in established shopping center.
      911 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing
      47,000 SF

      Prime Retail Space in Heath

      Retail space available in high-traffic Newark/Heath corridor.
      725 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing
      2,020 SF

      Grocery-Anchored Shopping Center Space

      Retail space available in a busy shopping center.
      533 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing
      209,280 SF

      Heath Retail Center Opportunity

      Prime Licking County shopping center space available
      607 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing
      2,730 SF

      Retail Space in Heath, Ohio

      Retail space available in a well-established shopping center.
      935-963 Hebron Rd, Heath, OH 43056
      View Details
    • Contact for pricing
      4,375 SF

      Former Restaurant Space on Hebron

      Restaurant space available on Hebron Road with high visibility.
      775 Hebron Rd, Heath, OH 43056
      View Details
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    500 Hebron Rd
    Heath, OH 43056-1435
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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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