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    Property profile & analytics

    512 Park St Columbus, OH 43215

    • Retail space
    • 4,801 SF
    • 0.11 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jun 23, 2020
    $1,000,000
    Value Estimations
    $900,000
    Cap Rate Potential
    5.7%
    Retail space
    Location Intelligence
    Property ID
    US66-1547296
    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

    • Retail space

    Property Details for 512 Park St

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    4,801 SF
    Property type
    Retail space
    APN
    010-030669
    APU
    10030669

    Description

    This exceptional 4,801 square foot commercial property located at 512 N. Park St, Columbus, OH 43215, offers a unique blend of warehouse, flex, and retail space. Situated on a 0.11-acre lot, this single-tenant building boasts a spacious open layout perfect for diverse business needs. The high ceilings, measuring 16 feet, provide ample vertical space, while a convenient rear overhead door enhances functionality for warehouse or flex operations. Previously occupied by the Columbus Children's Theatre, this property benefits from high visibility and accessibility within a vibrant urban area. Its adaptable design makes it suitable for a wide range of commercial ventures, from retail establishments to industrial businesses requiring flexible space. The property's prime location in Columbus, Ohio offers excellent access to transportation networks and a strong local market. This is a rare opportunity to acquire a versatile commercial space in a thriving city center. The property is ready for immediate occupancy, presenting a significant advantage for businesses seeking a quick and efficient transition. Don't miss this chance to secure a dynamic and adaptable space for your business's future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $965,000
      ML approach
      $960,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $925,000
      6.5%
      $850,000
      7%
      $790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $802,000
      Market price range: $248k - $829k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $760,000
      OFFICE BUILDING
      $680,000
      MEDICAL BUILDING
      $650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0042
    Latitude
    39.9726
    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
    $18,243
    $95,770
    $153,970
    $249,740
    -
    $273,600
    $439,900
    $713,500

    Comparable in this City

    • Value Estimation
      $260,000
      0.06 Acres

      4th St

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      4th St, Columbus, OH 43215
      View Details
    • Value Estimation
      $260,000
      0.06 Acres

      395 Mound St

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      395 Mound St, Columbus, OH 43215-5512
      View Details
    • Value Estimation
      $365,000
      6,008 SF

      401 Mound St

      RETAIL STORES (PERSONAL SERVICES) • 6,008 SF
      401 Mound St, Columbus, OH 43215-5512
      View Details
    • Value Estimation
      $300,000
      4,500 SF

      1065-1067 Dublin Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      1065-1067 Dublin Rd, Columbus, OH 43215
      View Details
    • Value Estimation
      $265,000
      0.07 Acres

      4th St

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      4th St, Columbus, OH 43215
      View Details
    • Value Estimation
      $345,000
      5,824 SF

      165 4th St

      RETAIL STORES (PERSONAL SERVICES) • 5,824 SF
      165 4th St, Columbus, OH 43215-2906
      View Details

    Similar Nearby for Sale

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      Retail/office space with high visibility and strong growth prospects.
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    • $3,000,000

      Entertainment Venue in Booming Market

      Flexible entertainment venue with liquor license in thriving Columbus market.
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    • $1,650,000
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      Retail Property Near Ohio State

      Retail property near downtown and Ohio State University, fully occupied.
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    Similar Nearby for Lease

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      8,000 SF

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      Office and Retail Space Available

      Mixed-use development with office, retail, and event space.
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      View Details
    • $28 SF/Yr
      2,681 SF

      Retail Space on State Street

      Retail space available for lease with 2681 square feet.
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    • $13 SF/Yr
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      Retail Space in Creekside Plaza

      Retail space available in a mixed-use development.
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      View Details
    • Contact for pricing
      2,635 SF

      Retail Space in Mixed-Use Center

      Retail space available in high-traffic, mixed-use development.
      1072-1076 Dublin Rd, Columbus, OH 43215
      View Details
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    512 Park St
    Columbus, OH 43215
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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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