Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Central Ave, Unit 525 Columbus, OH 43223-1970

    • Warehouses
    • 108,951 SF
    • 4.61 lot acres
    OFF-MARKET
    Value Estimations
    $4,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2288514
    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

    • Priority Dispatch / Delivery Service

    Property Details for 515 Central Ave

    Year built
    1958
    Lot size
    4.61 lot acres
    Property size
    108,951 SF
    Zone code
    515
    Property type
    Warehouses
    APN
    010-044340
    APU
    10044340

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,064,000
      Market price range: $4.44M - $15.3M
      AI Estimate
      $3,126,000
      Market price range: $3.13M - $7.35M

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0374
    Latitude
    39.9465
    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
    $65,477
    $109,690
    $786,660
    $896,350
    -
    $313,400
    $2,247,600
    $2,561,000

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      375 Princeton Ave

      WAREHOUSE, STORAGE • 0.09 Acres
      375 Princeton Ave, Columbus, OH 43223-1321
      View Details
    • Value Estimation by Request
      0.09 Acres

      Princeton Ave

      WAREHOUSE, STORAGE • 0.09 Acres
      Princeton Ave, Columbus, OH 43223
      View Details
    • Value Estimation by Request
      0.09 Acres

      Princeton Ave

      WAREHOUSE, STORAGE • 0.09 Acres
      Princeton Ave, Columbus, OH 43223
      View Details
    • Value Estimation by Request
      0.09 Acres

      Princeton Ave

      WAREHOUSE, STORAGE • 0.09 Acres
      Princeton Ave, Columbus, OH 43223
      View Details
    • Value Estimation by Request
      0.07 Acres

      Central Ave

      WAREHOUSE, STORAGE • 0.07 Acres
      Central Ave, Columbus, OH 43223
      View Details
    • Value Estimation by Request
      0.02 Acres

      450 Greenlawn Ave

      WAREHOUSE, STORAGE • 0.02 Acres
      450 Greenlawn Ave, Columbus, OH 43223-2611
      View Details

    Similar Nearby for Sale

    • $1,495,000
      18,444 SF

      Columbus Industrial Warehouse on 3.25 Acres

      18,444 SF industrial warehouse with convenient highway access.
      1945 Jackson Rd, Columbus, OH 43223
      View Details
    • Contact for pricing
      3,096 SF

      Renovated Industrial Building with Office

      Newly renovated industrial facility with office and warehouse space for sale.
      787 Harmon Ave, Columbus, OH 43223
      View Details
    • Contact for pricing

      Office/Warehouse with Secure Outdoor Storage

      5,700 SF office/warehouse on 0.67 acres with fenced lot.
      1005-1025 Stimmel Rd, Columbus, OH 43223
      View Details
    • Contact for pricing
      21,588 SF

      West Mound Street Flex Space

      Flex space suitable for various business types near downtown Columbus.
      1516 West Mound St, Columbus, OH 43223
      View Details
    • Contact for pricing

      Office/Warehouse with Secure Outdoor Storage

      5,700 SF office/warehouse on 0.67 acres with fenced lot.
      1005-1025 Stimmel Rd, Columbus, OH 43223
      View Details
    • $1,495,000
      18,444 SF

      Columbus Industrial Warehouse on 3.25 Acres

      18,444 SF industrial warehouse with convenient highway access.
      1945 Jackson Rd, Columbus, OH 43223
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      63,120 SF

      Columbus Industrial Space For Lease

      63,120 SF Manufacturing/Warehouse
      1520 Harmon Ave, Columbus, OH 43223
      View Details
    • $7 SF/Yr
      7,422 SF

      Columbus Commercial Building For Lease

      Free-standing commercial building for lease at $6.50/sqft NNN As Is.
      1082 W Mound St, Columbus, OH 43223
      View Details
    • $17 SF/Yr
      3,600 SF

      Franklinton Retail Space with Parking

      3,600 SF retail space in revitalized Franklinton neighborhood.
      411 South Central Ave, Columbus, OH 43223
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space Near Interstate 70

      Retail space with high visibility and traffic count.
      612-690 Harrisburg Pike, Columbus, OH 43223
      View Details
    • $1,200 /Mo
      2,016 SF

      Spacious 3-Bedroom Columbus Duplex

      Comfortable 3-bedroom duplex with modern updates and convenient location.
      151 Highland Ave, Columbus, OH 43223
      View Details
    • Contact for pricing

      Commercial Land on Harrisburg Pike

      0.88 acre commercial land for rent in retail corridor.
      1470 Harrisburg Pike, Columbus, OH 43223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 Central Ave, Unit 525
    Columbus, OH 43223-1970
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.