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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    650 Hl N Rd Pickerington, OH 43147-9201

    • Office buildings
    • 4,570 SF
    • 1.99 lot acres
    OFF-MARKET
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1552563
    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

    • Hermann & Henry Eyecare, Inc. / Optometrist / Eye Care Center
    • Jay W. Henry, OD / Optometrist
    • Bridget Hermann, OD / Optometrist
    • James M. Hermann, OD / Optometrist

    Property Details for 650 Hl N Rd

    Year built
    1989
    Construction
    STEEL FRAME
    Lot size
    1.99 lot acres
    Property size
    4,570 SF
    Property type
    Office buildings
    APN
    041-02476.70
    APU
    410247670

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $541,000
      Market price range: $220k - $572k
      AI Estimate
      $491,000
      Market price range: $206k - $503k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $410,000
      Current use
      RETAIL STORES
      $515,000
      Change: +26% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $510,000
      Change: +24% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $480,000
      Change: +17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pickerington
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.7649
    Latitude
    39.8989
    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
    $22,301
    $77,080
    $109,540
    $186,620
    -
    $220,220
    $312,960
    $533,180

    Comparable in this City

    • Value Estimation by Request
      756 SF

      44 Ctr St

      OFFICE BUILDING (MULTI-STORY) • 756 SF
      44 Ctr St, Pickerington, OH 43147-1203
      View Details
    • Value Estimation by Request
      2,890 SF

      16 Columbus St

      OFFICE BUILDING • 2,890 SF
      16 Columbus St, Pickerington, OH 43147-1380
      View Details
    • Value Estimation by Request
      1,808 SF

      200 Hereford Dr

      OFFICE BUILDING (MULTI-STORY) • 1,808 SF
      200 Hereford Dr, Pickerington, OH 43147-1306
      View Details
    • Value Estimation by Request
      3,600 SF

      40 Hl S Rd

      OFFICE BUILDING (MULTI-STORY) • 3,600 SF
      40 Hl S Rd, Pickerington, OH 43147-1219
      View Details
    • Value Estimation
      $730,000
      13,269 SF

      11299 Stonecreek Dr

      OFFICE BUILDING (MULTI-STORY) • 13,269 SF
      11299 Stonecreek Dr, Pickerington, OH 43147-8910
      View Details
    • Value Estimation
      $2,370,000
      23,047 SF

      1310 Hl N Rd

      OFFICE BUILDING (MULTI-STORY) • 23,047 SF
      1310 Hl N Rd, Pickerington, OH 43147-7814
      View Details

    Similar Nearby for Sale

    • $295,000
      1,638 SF

      Restored Office Building in Pickerington

      Restored 1,638 SF office building in historic Pickerington.
      60 Hill Rd S, Pickerington, OH 43147
      View Details
    • New
      $449,900
      3,860 SF

      Pickerington Multi-Tenant Office Building

      Fully leased office building in Olde Downtown Pickerington Village District.
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      Pickerington Medical Office Building For Sale

      Medical office building with long-term passive lease structure for sale.
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      2,080 SF

      Downtown Pickerington Office/Retail Space

      Two-story office/retail space in the heart of Downtown Pickerington.
      21 W Columbus St, Pickerington, OH 43147
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    • $949,000

      Pickerington Commercial Land Opportunity

      Prime 40,075 sq ft commercial lot for sale.
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    • $230,000

      Pickerington Commercial Land - $230K

      1.4-acre lot, C-3 zoning, buildable pad.
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    Similar Nearby for Lease

    • $4,500 /Mo
      3,510 SF

      Pickerington Office/Medical Building For Lease

      Two-story building for lease in a busy, developing area.
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    • $750 /Mo
      16,337 SF

      Furnished Office Space Available

      Furnished 132 SF office space with shared amenities for rent.
      10400 Blacklick Eastern Rd, Pickerington, OH 43147
      View Details
    • $33 SF/Yr
      9,680 SF

      Office Space in Pickerington, OH

      Two office spaces available with included utilities and amenities.
      799 Windmiller Dr, Pickerington, OH 43147
      View Details
    • $1,800 /Mo
      16,337 SF

      Furnished Office Space Available

      Furnished office space with shared amenities in Pickerington, OH.
      10400 Blacklick-Eastern Rd NW, Pickerington, OH 43147
      View Details
    • Contact for pricing
      1,652 SF

      Move-in Ready Medical Office Space

      Medical office space available for lease in Pickerington, OH.
      151 Clint Dr, Pickerington, OH 43147
      View Details
    • $15 SF/Yr
      13,982 SF

      Pickerington Medical/Office Space For Lease

      1,500 SF medical/office space in a high-visibility Pickerington corridor.
      641 N Hill Rd, Pickerington, OH 43147
      View Details
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    650 Hl N Rd
    Pickerington, OH 43147-9201
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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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