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Property profile & analytics
FOR LEASE
Warehouses
5275 Centerpoint Pkwy Groveport, OH 43125
Entity Owned
~
Est. High Equity
Property ID
US66-5312366
For Lease
1 / 2
$29,195,000
5275 Centerpoint Pkwy, Groveport, OH 43125
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2020
Total area
311,190 SF
Lot
21.9 ac (953,790 SF)
APN
186-002021
UPID
US66-5312366
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
-
D &s distribution Warehouse & Storage
-
Shiseido TI Back Building Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$35.80M
Blend (final)
Blend
$29.20M
Owner & transaction history
Np Heartland 3 LLC
Np Heartland 3 LLC
since 2025
Last sale
$30.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$46.8M
+69.1%
Apartment house (5+ units)
$45.1M
+63.0%
Office building
$42.8M
+54.5%
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 Groveport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Groveport 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
WAREHOUSE, STORAGE
$27,675,000
Current use
MEDICAL BUILDING
$46,805,000
Change: +69% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$45,110,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$42,770,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$38,890,000
Change: +41% · Conversion: Moderate
Blend value · Realmo final
$29.20M
Range $26.28M – $32.11M · ±10% · vs last sale $30.25M (Dec 15 2025)
Last sale anchor
$30.25M
Dec 15 2025
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
$94 / 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
$57,522
Tax year 2023
Assessed value
$7,518,640
Assessed 2023
Previous assessed
$5,201,720
+44.5% YoY
Effective rate
0.77%
On assessed value
Assessed land
$728,040
Assessed improvement
$6,790,600
Land market value
$2,080,100
Improvement market value
$19,401,700
Total market value
$21,481,800
Applied tax rate
186.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2020
Heating
YES
Cooling
NONE
Buildings
1
Stories
1
Total area
311,190 SF
Lot
21.9 ac (953,790 SF)
APN
186-002021
UPID
US66-5312366
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
WAREHOUSE, STORAGE Current
Est. value
$27.7M
MEDICAL BUILDING
Est. value
$46.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$45.1M
OFFICE BUILDING
Est. value
$42.8M
RETAIL STORES
Est. value
$38.9M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RETAIL STORES
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
1
Buildings
1
Lot
21.9 ac
Current owner
From public records · entity-resolved
Np Heartland 3 LLC
Entity
Mailing address
440 N POST OAK LN, HOUSTON, TX 77024-5908
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2025
$30,250,000
Np Heartland 3 LLC
Columbus Dev I LLC
Deed
$120,450,000 · Jackson National Life Insurance Com
Jul 1, 2019
$2,100,000
Columbus Dev I LLC
Cp One LLC
Limited Warranty Deed
—
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?”
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