Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,345,000
Retail space
501 Broad St Columbus, OH 43215-2754
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-2000220
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
WOOD
Total area
15,696 SF
Lot
2.26 ac (98,228 SF)
Zoning code
491
APN
010-057684
UPID
US66-2000220
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
-
Broad Street United Methodist Church Church
-
Columbus Coalition for the Homeless Social Service Agency Charitable Organization
-
Church of Solid Faith Church
-
Marketplace at Gravity Hotel & Motel Resort
-
Heart of the City Foundation Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.35M
Owner & transaction history
The Gravity Project 3 Holdings LLC · 2 yrs held
The Gravity Project 3 Holdings LLC
since 2023
7 recorded transactions
Zoning & alternative use
491 · Columbus, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+32.0%
Medical building
$2.1M
+25.8%
Commercial (general)
$1.8M
+9.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,685,000
Current use
OFFICE BUILDING
$2,225,000
Change: +32% · Conversion: Easy
MEDICAL BUILDING
$2,120,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,845,000
Change: +10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,695,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$1.35M
Range $1.21M – $1.48M · ±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
$29,819
Tax year 2023
Assessed value
$408,210
Assessed 2023
Previous assessed
$340,560
+19.9% YoY
Effective rate
7.30%
On assessed value
Assessed land
$159,990
Assessed improvement
$248,220
Land market value
$457,100
Improvement market value
$709,200
Total market value
$1,166,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
15,696 SF
Lot
2.26 ac (98,228 SF)
Zoning code
491
APN
010-057684
UPID
US66-2000220
Jurisdiction
FRANKLIN
Zoning & alternative use
491 · Columbus, OH
Zoning 491 · permitted uses
491 · Columbus, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Columbus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1950
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.26 ac
Current owner
From public records · entity-resolved
The Gravity Project 3 Holdings LLC
Entity
Free & Clear · 2 yrs held
Mailing address
30 WARREN ST, COLUMBUS, OH 43215-1525
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2023
—
The Gravity Project 3 Holdings LLC
Columbus Franklin County Fin Author
Lease
—
Dec 20, 2022
—
The Gravity Project 3 LLC
City Of Columbus
Quit Claim Deed
related
—
Nov 3, 2022
—
The Gravity Project 3 LLC
Fton Property Partners Oz I LLC
Limited Warranty Deed
—
Oct 12, 2021
—
Fton Property Partners Oz I LLC
Fton Property Partners I LLC
Intrafamily Transfer
related
$5,434,000 · Cf Bank
Mar 18, 2019
—
Fton Property Partners I LLC
Ad Farrow LLC
Grant Deed
—
Jul 17, 2009
—
Ad Farrow LLC
—
Deed Of Trust
related
$11,620,036 · Fifth Third Bank
Apr 26, 2004
$1,625,000
A D Farrow LLC
491 West Broad Street LLC
Grant Deed
$1,375 · Fifth Third Bank
Feb 26, 2003
—
491 W Broad Street LLC
Columbus City (oh)
Quit Claim Deed
related
—
Dec 26, 2002
—
491 W Broad Street LLC
Doerman,alan L & Kathryn P
Grant Deed
related
—
—
—
Alan L Doerman
—
Deed Of Trust
related
$675,405 · Park National Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 501 Broad St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
