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    Property profile & analytics

    6361 Nicholas Dr Columbus, OH 43235

    • Warehouses
    • 9,751 SF
    • 0.19 lot acres
    For Lease
    View listing
    Last Sale
    Dec 27, 2022
    $1,200,000
    Value Estimations
    $1,150,000
    Cap Rate Potential
    6%
    Warehouses
    Location Intelligence
    Property ID
    US66-2277902
    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

    • CAS Laboratories / Laboratory

    Property Details for 6361 Nicholas Dr

    Year built
    2004
    Lot size
    0.19 lot acres
    Property size
    9,751 SF
    Property type
    Warehouses
    APN
    610-287412
    APU
    610287412

    Description

    This exceptional 8,500 square foot industrial property, located at 6361 Nicholas Drive in Columbus, Ohio, presents a unique investment opportunity. The building is an end-cap suite within a larger industrial complex, offering excellent visibility and accessibility. Designated as a single-tenant property, this manufacturing space provides ample room for a variety of industrial operations. The property's address is 6361 Nicholas Dr, Columbus, OH 43235, with precise coordinates at latitude 40.0872612 and longitude -83.0630982. The building's classification is industrial, specifically categorized as a manufacturing facility, making it ideal for businesses requiring substantial space for production, warehousing, or assembly. Given its end-cap location, the property benefits from increased natural light and potentially enhanced loading and unloading capabilities. The single-tenancy aspect offers a streamlined operational environment, eliminating the complexities of multi-tenant management. This property is well-suited for a company seeking a dedicated, spacious, and conveniently located manufacturing facility in the Columbus, Ohio market. The property's size and location make it an attractive option for businesses looking to expand or establish a presence in a thriving industrial area. Further details regarding the property's internal layout and specifications are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,265,000
      ML approach
      $1,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,260,000
      6.5%
      $1,165,000
      7%
      $1,080,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $787,000
      Market price range: $397k - $1.37M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $825,000
      Current use
      OFFICE BUILDING
      $1,835,000
      Change: +122% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,545,000
      Change: +87% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,415,000
      Change: +71% Conversion: Difficult
      MEDICAL BUILDING
      $1,315,000
      Change: +59% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,055,000
      Change: +27% Conversion: Moderate
      RETAIL STORES
      $1,045,000
      Change: +26% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Franklin
    State
    Ohio
    Longitude
    -83.0633
    Latitude
    40.0873
    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
    $24,949
    $33,570
    $242,870
    $276,440
    -
    $95,900
    $693,900
    $789,800

    Comparable in this City

    • Value Estimation
      $1,210,000
      119,652 SF

      New Market Ctr Way

      MINI-WAREHOUSE, STORAGE • 119,652 SF
      New Market Ctr Way, Columbus, OH 43235
      View Details
    • Value Estimation
      $1,265,000
      2,428 SF

      6351 Nicholas Dr

      WAREHOUSE, STORAGE • 2,428 SF
      6351 Nicholas Dr, Columbus, OH 43235-5204
      View Details
    • Value Estimation
      $470,000
      1,410 SF

      3740 Snouffer Rd

      MINI-WAREHOUSE, STORAGE • 1,410 SF
      3740 Snouffer Rd, Columbus, OH 43235-2777
      View Details
    • Value Estimation
      $990,000
      120,898 SF

      1700 Worthington Run Dr

      WAREHOUSE, STORAGE • 120,898 SF
      1700 Worthington Run Dr, Columbus, OH 43235
      View Details
    • Value Estimation
      $255,000
      1.00 Acre

      Lazelle Rd

      WAREHOUSE, STORAGE • 1.00 Acre
      Lazelle Rd, Columbus, OH 43235
      View Details
    • Value Estimation
      $745,000
      22,120 SF

      2655 Billingsley Rd

      MINI-WAREHOUSE, STORAGE • 22,120 SF
      2655 Billingsley Rd, Columbus, OH 43235-1904
      View Details

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    Columbus, OH 43235
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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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