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Property profile & analytics
OFF-MARKET
Estimated value
$24,670,000
Office buildings
500 Neil Ave Columbus, OH 43215-2358
Entity Owned
6-yr Hold
Free & Clear
Property ID
US66-1632248
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2020
Total area
146,928 SF
Lot
1.43 ac (62,291 SF)
APN
010-024120
UPID
US66-1632248
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
-
Strand Associates, Inc. Engineering Consultant
-
The Hatcher Coe Group Real Estate Agency
-
The Patel Yozwiak Group Real Estate Agency
-
Marcus & Millichap Real Estate Agency
-
Chipotle health inc. Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.86M
Comparable Approach
Comparable
$31.29M
Blend (final)
Blend
$24.67M
Owner & transaction history
500 Neil Avenue LLC · 6 yrs held
500 Neil Avenue LLC
since 2020
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$33.5M
+61.0%
Auto repair, garage
$23.3M
+12.0%
Apartment house (5+ units)
$21.3M
+2.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$30,180,000
6.5%
$27,855,000
7%
$25,865,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$20,810,000
Current use
RESTAURANT
$33,505,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$23,300,000
Change: +12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$21,300,000
Change: +2% · Conversion: Easy
MEDICAL BUILDING
$19,840,000
Change: -5% · Conversion: Easy
COMMERCIAL (GENERAL)
$17,295,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$24.67M
Range $22.20M – $27.14M · ±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
$168 / 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
$48,413
Tax year 2023
Assessed value
$10,666,780
Assessed 2023
Previous assessed
$10,666,780
+0.0% YoY
Effective rate
0.45%
On assessed value
Assessed land
$662,760
Assessed improvement
$10,004,020
Land market value
$1,893,600
Improvement market value
$28,582,900
Total market value
$30,476,500
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2020
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
4
Total area
146,928 SF
Lot
1.43 ac (62,291 SF)
APN
010-024120
UPID
US66-1632248
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$20.8M
RESTAURANT
Est. value
$33.5M
AUTO REPAIR, GARAGE
Est. value
$23.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$21.3M
MEDICAL BUILDING
Est. value
$19.8M
COMMERCIAL (GENERAL)
Est. value
$17.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Heating
YES
Cooling
Yes
Stories
4
Buildings
1
Lot
1.43 ac
Current owner
From public records · entity-resolved
500 Neil Avenue LLC
Entity
Free & Clear · 6 yrs held
Mailing address
375 N FRNT ST STE #200, COLUMBUS, OH 43215-2258
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2020
—
500 Neil Avenue LLC
Nwd Hp LLC
Grant Deed
—
Dec 5, 2019
—
Nwd Hp LLC
Real Title Holdings LLC
Quit Claim Deed
related
—
Dec 4, 2019
—
City Of Columbus
Nwd Hp LLC
Grant Deed
—
May 1, 2019
—
Nwd Hp LLC
Hp Land Dev Ltd
Quit Claim Deed
—
Dec 29, 2000
—
Hp Land Develoment Ltd
Hamilton Parker Co
Grant Deed
related
—
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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